Ahmedabad: Gujarat seems to have appeared as the most preferred goal to prepare projects by private company companies because countries attract the maximum number of projects approved by banks and financial institutions over a period of five years from 2016-17-21.
At 14.7%, Gujarat won the highest percentage share of projects approved during the Quinquennial period.
Gujarat was attended by Maharashtra (12.1% of shares in sanctions projects), Karnataka (9.5%), Andhra Pradesh (8.8%) and Tamil Nadu (7.2%), stated the latest Bank of India report ( RBI) Reserve about private corporate investment.
“Data for the past five years (2016-17 to 2020-21) revealed that more than half (52.3%) of projects was established in five states, namely.
Gujarat, Maharashtra, Karnataka, Andhra Pradesh, and Tamil Nadu , “Shows the report, which mentions raw materials, availability of labor, adequate infrastructure, market size, and growth prospects as a determining factor to find a project.
As many as 330 projects, not including those spread in several states / trade unions, were approved in Gujarat during fiscal 2017 to 2021.
The total number throughout India was established at 1,975.
For analysis, the report excludes a smaller investment project than Rs 10 Crore and the Project with private ownership below 51% or carried out by guardianship, government and educational institutions.
“I believe that Gujarat is the Indian business hotspot, with high prospects for industry and trade.
It has a conducive ecosystem, both business or social,” said Jaimin Shah, together, Assocham Gujarat.
There are many benefits for existing and new investors.
In investors who come, there is a sense of high competitiveness in Gujarat.
Also, trade and trade will be increased with incoming investments, making it truly Aatmanirbhar, “he added.
In fact, the Gujarat part of sanctions projects has risen because the state has attracted 10% of these projects during 2011-12 to 2015 16, the next report adds.
Not only the number of projects, Gujarat also accepts the Lion section in the total project costs approved.
According to the report, in 2020-21, Gujarat and Rajasthan each contributed the highest share (17.1%) in total Project costs approved by banks and financial institutions were attended by Andhra Pradesh (15.7%), Uttar Pradesh (13.7%), Maharashtra (8.5%), Haryana (7.8%), Karnataka (6.1 %).
The report, however, states that the overall investment climate remains calm throughout the country for most of 2020-21 because of Covid’s pandemic.
“Overall, Bank and FIS only sanctioned 220 private company project proposals in 2020-21 Record Low in recent years.
The total project costs agreed to decline to RS 75,558 Crore at 2020-21 from Rs 1,75,830 Crore in 2019-20.
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In 5 years, the maximum project of Gujarat bags
