Tamil Nadu draws FDI faster, states study
As per a latest study, Tamil Nadu has left behind states like Gujarat and Andhra Pradesh in attracting Foreign Direct Investment (FDI). The state has attracted investments of around Rs 6,711 crore in 2011-12, which is 66 % higher than Andhra Pradesh and 41 % more than Gujarat.
As per the study conducted by Frost & Sullivan and the Associated Chambers of Commerce and Industry of India (Assocham):
- FDI equity inflows in Tamil Nadu surged from Rs 3,653 crore in 2009-10 to Rs 6,711 crore in 2011-12. The FDI inflow to the state expanded by around 10 % during the fiscal, compared to Rs 6,115 crore during 2010-11.
- Tamil Nadu has attracted FDI at a faster rate than Andhra Pradesh and Gujarat
- Maharashtra leads the country in attracting FDI to the tune of Rs 44,664 crore during the fiscal, as against Rs 27,669 crore during 2010-11
- Tamil Nadu provides better infrastructure in the form of special economic zones (SEZs) and offers tax benefits. FDI is permitted in the manufacturing industries based in the SEZs.
- Gujarat attracted an FDI investment of Rs 4,730 crore during 2011-12, registered a growth of 43.6 % in FDI inflow during the fiscal
- Andhra Pradesh attracted investment of Rs 4,039 crore during the fiscal exhibited a decrease of around 30 % in FDI inflow in 2011-12.
- Karnataka registered FDI of Rs 7,235 crore during 2011-12, rising from Rs 6,133 crore in the previous year.
- The total FDI inflow into India was at Rs1,73,946 crore during 2011-12, which shows an increase of 96.5 % from Rs 88,520 crore in the previous fiscal year.
Month: Current Affairs - July, 2012