Domestic and foreign entrepreneurs held back proposed investments in India in 2012-13 and investment intentions dried up by 75 per cent as compared to the previous year as per state-wise data collated by industry chamber Assocham.
“India attracted 697 investment proposals to the tune of over Rs 1.4 lakh crore as of March 2013. However, these investment intentions have declined from a significant level of 2,828 proposals worth about Rs. 6 lakh crore from last year,” Assocham said in a report.
“With 20 per cent share in proposed investment intentions as of March 2013, Maharashtra has emerged as the most preferred investment destination, attracting 149 proposals worth over Rs 28,500 crore,” Rajkumar Dhoot, president of Assocham, said.
Chhattisgarh is ranked second with about 19 per cent share, attracting 21 proposals worth over Rs. 27,000 crore. Gujarat is ranked third with a share of 14 per cent with 106 proposals worth over Rs. 19,800 crore.
Rajasthan is ranked fourth with 10 per cent share with 41 proposals worth Rs. 14,929 crore, followed by Kerala with 10 per cent share with two projects worth over Rs. 14,200 crore.
From among 20 states, Kerala is the only state which has seen a massive surge in investment intentions, according to Assocham. While Andhra Pradesh, Haryana, Karnataka, Tamil Nadu and Uttar Pradesh have seen a dip in investment intentions at a growth rate higher than the national average, the report said.