Maharashtra occupies top spot in foreign investments, says Industries Minister Subhash Desai

According to Desai, Maharashtra attracted foreign investment of Rs 62,731 crore in 2015-16 as compared to Delhi's Rs 83,288 crore.

By: PTI | Nagpur | Published: December 18, 2016 3:11 pm
Foreign Direct Investment, FDI, Maharashtra bags FDI, Maharashtra bags majority FDI, Maharashtra, Nagpur, India news, Indian Express The state has achieved a percentage value of 84.5 in terms of ease of doing business. It has gone up substantially from 49.5 per cent and is expected to rise up to 90 per cent in near future. (Source: File)

Maharashtra has bagged a big portion of the Foreign Direct Investments that have come to the country in first six months of the current financial year, a state minister has said. Of the total investments of Rs 1,44,674 crore that have come into the country in April-September period this year, the state has got investments worth Rs 68,409 crore, Industries Minister Subhash Desai said.

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“The state has achieved a percentage value of 84.5 in terms of ease of doing business. It has gone up substantially from 49.5 per cent and is expected to rise up to 90 per cent in near future,” Desai said, while releasing the data, here recently. He said Singapore’s Asian Competitiveness Association has chosen Maharashtra for top slot in industrial progress.

“The state has become the most favourite destination for foreign investment due to its policies of providing ease of doing business, quality infrastructure, encouragement and skilled manpower,” the minister claimed. The investments have come mainly from Japan, England, Mauritius, USA and The Netherlands in fields like service sector, real estate and infrastructure, computer hardware and software, telecommunications, motor vehicles and medicines.

According to Desai, the state attracted foreign investment of Rs 62,731 crore in 2015-16 as compared to Delhi’s Rs 83,288 crore. However, Delhi lagged behind the state in the April-September period this year by getting only Rs 23,415 crore worth of foreign investment (compared to Maharashtra’s Rs 68,409 crore), Desai said.

The respective figures for investments last year and April-September period this year for some other states are: Tamil Nadu – Rs 29,781 crore and Rs 4,136 crore, Karnataka – Rs 26,791 crore and Rs 7,216 crpre, Andhra Pradesh – Rs 10,315 crore and Rs 7,204 crore and Gujarat Rs 14,667 crore and Rs 2,462 crore.

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