Andhra Pradesh tops in attracting industrial investments

Andhra Pradesh has emerged on the top among all other states in attracting industrial investments in 2015-16, pushing the previous year’s topper Maharashtra to the third spot. Andhra Pradesh attracted an investment of Rs 21,914 crore out of the Rs 1,38,700 crore gross investments across India, the state government said in an official release, quoting a report by the Reserve Bank of India.

This was 15.8 percent of the total investments of over Rs 10 crore each unit. In 2014-15, AP’s share in the country’s investments was 8.1 percent. Gujarat retained the second place attracting 14.5 percent of investments, up from 9.5 percent in 2014-15 while Maharashtra was pushed to the third spot with 10.9 percent in 2015-16, a decline from 14.8 percent.

Tamil Nadu also made quantum gains in investment, attracting 9 percent of the gross and jumping to the fourth spot. In 2014-15, investment flow into Tamil Nadu was a mere 2.9 percent. Karnataka and Madhya Pradesh were tied at the fifth spot garnering 7.2 percent share each in industrial investments, according to the RBI report. According to the Industries Department of AP, industrial growth rate in the state shot up from 5.25 percent in 2014-15 to 11.1 percent in 2015-16.

Source: Money Control