Odisha most favourite destination for FDI: ASSOCHAM

Bhubaneswar: Mineral rich Odisha has emerged as the most favourite destination for overseas investors with investment proposals of worth Rs 49,527 crore followed by Andhra Pradesh and Gujarat during 2011-12, according to apex industry body Associated Chambers of Commerce and Industry of India (ASSOCHAM).

Though barely 17 FDI proposals were filed in Odisha, the state garnered lion`s share worth about Rs 49,527 crore in the total FDI proposed across India, according to a state-wise analysis of the proposed FDI and the number of FDI proposals filed in India during 2011-12 carried out by ASSOCHAM.

While Odisha`s share in total foreign direct investment (FDI) was 21 per cent, AP attracted 19 per cent (Rs 33,936 crore for 70 proposals) followed by Gujarat 11 per cent (Rs 20,258 crore for 131 proposals).

“A total of 763 FDI proposals worth over Rs 1.78 lakh crore were filed across various states in India during the aforesaid period,” said D S Rawat, national secretary general of ASSOCHAM while releasing the findings of the analysis.

Services, telecommunications, construction, computers (software and hardware), real estate and housing, chemicals, drugs and pharmaceuticals, power, automobiles and metallurgical industries are certain sectors attracting highest FDI inflows across India, said Rawat.

Chattisgarh and Karnataka ranked fourth and fifth of the top five investment destinations from the foreign investors` point of view and got FDI proposals worth over Rs 20,000 crore and 14,000 crore respectively.

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