Mumbai: Maharashtra has lost it's much coveted numero uno position in attracting the maximum amount of foreign direct investment in the country.
Although Maharashtra has attracted the Foreign Direct Investment (FDI) of Rs 7.39 lakh crores during April 2000 and September 2019, however Karnataka outsmarted Maharashtra in attracting FDI in 2019-20.
According to the Economic Survey for 2019-20, Karnataka received FDI worth Rs 32,431 crores against Rs 25,316 crores in Maharashtra, followed by Rs 24,012 crores in Gujarat.
The survey has not revealed the reasons for the dip in the FDI. However, industries department sources said the investors may have decided to defer their decision due to the slowdown and the Lok Sabha and state assembly elections held last year.
Furthermore, the Economic Survey also notes that Maharashtra has 29% share in the total FDI received across the country during April 2000 and September 2019.
It is not just FDI, but in the line with the fall in countrywide figures, exports from Maharashtra have also shown a dip. The state's exports were reported at Rs 3,51,096 crore in 2019-20 against Rs 5,08,975 crores in the earlier year. Maharashtra's share in all India exports is about 24%.
Further, Maharashtra has slipped to third position after Gujarat and Karnataka in attracting investments in the approved industrial products between August 1991 and August 2019.
Gujarat has attracted investment worth Rs 17.59 lakh crores followed by Karnataka at Rs 13.18 lakh crore, Maharashtra at Rs 13.02 lakh crores, Andhra Pradesh at Rs 10.60 lakh crores, Tamil Nadu at Rs 5.60 lakh crores and Uttar Pradesh at Rs 3.91 lakh crores.
However, Maharashtra tops the list in number of approved industrial projects of 20,501 followed by Gujarat 14,548, Tamil Nadu 9,783, Andhra Pradesh 9,230, Uttar Pradesh 8,583 and Karnataka 5,860.
Meanwhile, Maharashtra under the Mega Projects policy 2005 has approved 643 projects with an investment of Rs 4,79,950 crores and proposed employment of 5.23 lakh till December 2019.
Eligibility certificates were given to 206 projects with an actual investment of Rs 89,342 crores and a proposed employment of about 1.37 lakh crores.
