Assam 4th, Gujarat at bottom in implementing projects With about 72 per cent of the total investment projects under implementation, Assam recorded the fourth highest rate of investment implementation and Gujarat the lowest as of March 2013, according to the latest state-wise investment analysis by the apex industry body, Associated Chambers of Commerce and Industry of India (Assocham), released on Wednesday. While Haryana topped the investment implementation rate chart at 82 per cent, Jammu and Kashmir (81.4 per cent) and Punjab (79 per cent) are also ahead of the state. On the other hand, Gujarat recorded the lowest investment implementation rate. The analysis said that only 46 per cent of the total investment projects in Gujarat are in the implementation stage while the rest remained non-starters as of March 2013. Other industrialized states - Rajasthan, Madhya Pradesh, Karnataka, West Bengal, Tamil Nadu and Jharkhand - recorded lower rates of implementation, the Assocham analysis said. "Though Assam had attracted investments worth a meagre Rs 71,342 crore from various public and private sources as of March 2013, investment projects worth over Rs 51,350 crore are under implementation in the state while the rest comprising around 28 per cent of the investments, remain a non-starter," the Assocham analysis said. The analysis highlighted that while 22.5 per cent investment projects in the state were in the announcement stage as of March 2013, five per cent were stalled due to various reasons; there is no information of the remaining projects. "A staggering 43 per cent of total investment projects worth a humongous Rs 52 lakh crore attracted by states across India remained non-starters as of March 2013. While over 34 per cent of these investments are stuck at the stage of announcement, implementation of about six per cent projects has been stalled and there is no information of the remaining (three per cent) projects," said Assocham national secretary general DS Rawat, while releasing the analysis. Nationally, investments worth over Rs 69.5 lakh crore, which is just about 57 per cent of the total investments of over Rs 122 lakh crore attracted from various public and private sources, are under implementation stage as of March 2013, said Rawat, adding, "These dismal figures show that owing to prevalence of global recessionary trends and slowdown of the Indian economy, investments across states have been kept on hold, which is worrisome for a country that desperately needs investments." "The prevailing unstable external and internal economic conditions, high inflation, credit availability and its cost along with a host of local problems like delays owing to land acquisition have been affecting the investment scenario in India," Rawat said. "Only states that try to address genuine concerns of investors to possible extent see higher implementation rates," he added.
Posted on: Thu, 12 Sep 2013 19:22:56 +0000
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