State loses top slot to attract investment destination

Mumbai : Bad news for the state as now Maharashtra is no more the number one destination to attract investment! The top slot has now shifted to Andhra Pradesh in attracting project investments, according to study by the Reserve Bank of India.

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However, over a period of five-year, between the financial year of 2014-15 and 2018-19, the Maharashtra topped the list followed by Gujarat and Andhra Pradesh. But in last financial year, 2018-19, AP accounted for the highest share of 11.8 per cent, in total cost of projects sanctioned by banks and financial institutions in 2018-19 followed by Tamil Nadu (11.5 per cent), Maharashtra (10.9 per cent), Gujarat (9.9 per cent), Telangana (8.2 per cent), Rajasthan (6.8 per cent) and Uttar Pradesh (6.2 per cent).

According to the RBI data, for the five financial year, from 2014-15 to 2018-19, Maharashtra topped the list attracting 13.6 per cent of the investments during the period followed by Gujarat which managed to get 13.4 per cent of the investments.