Andhra Pradesh and West Bengal have emerged as the country’s top two investment destinations for domestic private sector firms. The southern state is the only one to have attracted capital expansion (capex) plan commitments in excess of Rs 1 trillion in the first half of 2008.
Andhra Pradesh which attracted Rs 1,08,559 crore investment is followed by West Bengal with over Rs 93,000 crore during the same period, according to a survey by industry chamber Assocham. The figures are for the period before the Tatas pulled out their ambitious Rs 1,500-crore Nano car project from the state.
In its study titled ’Regional Investment Ann-ouncements’, Assocham said the eastern region came on the top for attracting private sector investment announcements, followed by southern and western regions. “One-time vibrant northern India for investors has slipped to a poor position number four in terms of luring investments by the private players,” it said.
The central region, comprising Madhya Pradesh and Chhattisgarh, was ranked last with the minimum share of 8.87 per cent in the total investment announcements. The western region ranked third and Rajasthan (Rs 80,776 crore) outpaced Maharashtra (Rs 65,632 crore). Northern states attracted investments to the tune of Rs 123,905 crore. Haryana and the NCR grabbed Rs 50,595 crore and Rs 38,237 crore.
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