The tall claims of the West Bengal government regarding attracting investments worth several crores of rupees including overseas ones fall flat with the state being among the worst performing states in attracting foreign direct investment (FDI) in the first four months of the current financial year of 2012-13.
If the period April-June 2012 is an indicator, the scene of FDI inflow in West Bengal is slated for an appalling picture for the entire fiscal under review.
According to the statements on FDI equity inflows received from the different regional offices of the Reserve Bank of India, Bengal is ranking among the six worst performing states in terms of attracting FDI during the period April-June 2012.
During the period under review, the Kolkata regional office of RBI, has received a paltry FDI proposal to the tune of R46 crore. The states which one step ahead of West Bengal is Kerala but with a huge difference, with RBI’s Kochi office recording FDI proposal worth R104 crore during the same period.
While the apex bank’s Kolkata regional office caters to West Bengal, Sikkim and Andaman and Nicobar Islands, the Kochi regional office caters of Kerala and Lakshadweep.
Following RBI’s Kolkata office is the Bhopal office, which caters to Madhya Pradesh and Chattisgarh, whose fresh FDI proposal records during April-June 2012 is slightly lesser at Rs. 35 crore.
After Kolkata and Bhopal, the worst performances on this count are reported from RBI regional offices at Chandigarh catering to Punjab and Himachal Pradesh at Rs. 29 crore, Panaji catering to Goa at Rs. 15 crore, Bhubaneswar catering to Orissa at Rs. 11 crore and finally Patna catering to Bihar and Jharkhand at three crore.
The best performance on this count is recorded at RBI’s Mumbai office, which caters to Maharashtra, Dadra and Nagar Haveli and Daman and Diu, where a record fresh FDI proposal worth R8,489 crore was recorded in the first three months of the current financial year.
The second best performance was recorded at RBI’s New Delhi office. Catering to Delhi, Haryana and parts of Uttar Pradesh, the Delhi office during April- June 2012, recorded fresh FDI inflows worth Rs. 4,130 crore.