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Odisha ranks 3rd top-most in attracting live investments across India, says study

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Odisha ranks 3rd top-most in attracting live investments across India, says study

Odisha ranks 3rd top-most in attracting live investments across India, says study
October 12
15:28 2017

State records considerable improvement in implementation of investment intentions

By Sushobhita Guru

BHUBANESWAR, OCT 12. Odisha is ranked third with over seven per cent share in total live investments worth over Rs 177 lakh crore attracted by different sectors from public and private sources across India as of Financial Year (FY) 2017 with only Maharashtra (over 11 per cent share) and Gujarat (8.5 per cent share) ahead of it in this regard

According to a study conducted by apex industry body Associated Chambers of Commerce and Industry of India (ASSOCHAM), Odisha has attracted over 900 projects with live investments worth over Rs 13 lakh crore as of FY17.

Titled ‘Odisha – Economic growth and investment performance analysis,’ the study report which was released here on Thursday lauded the Odisha government for its proactive approach towards consequential implementation of investment intentions.

The study report was released by ASSOCHAM president, Sandeep Jajodia along with T.K. Chand, chairman National Council on Mines & Minerals and secretary general, D.S. Rawat

“The rate of under-implementation of live projects has drastically declined from peak level of about 62 per cent in FY13 to about 47 per cent in FY17,” it said.

Besides, Odisha has also performed better compared to all-India under-implementation rate of investment projects which stood at over 56 per cent and over 54 per cent in FY13 and FY17 respectively.

The chamber study also highlighted that between FY12 and FY17, investment projects in manufacturing, construction and real estate sectors had recorded considerable improvement in terms of under implementation rate which had worsened in case of sectors like mining, electricity, non-financial services and irrigation.

Explaining how a higher under-implementation rate implies that most of the projects or outstanding investments are under process and yet not completed, it was stated that a higher under implementation rate does not augur well as actual benefits of an investment are only derived upon completion.

Projects with huge investments that are under different stages of implementation have been a major concern for policymakers across India as governments both at the centre and the states have been taking various initiatives to reduce the extent of such investment projects both in terms of numbers and values, the study said.

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