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India Inc investments, an impressive Rs1,75,629 cr

India Inc investments, an impressive Rs1,75,629 cr
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First Published: Mon, Oct 29 2007. 01 44 PM IST
Updated: Mon, Oct 29 2007. 01 44 PM IST
New Delhi: India is set to become a potential goldmine as investment announcements surge to Rs 1,75,629 crore for August-September 2007, bulk of which will go to Petroleum sector, especially in Orissa and West Bengal, according to Assocham’s Eco Pulse Study on ‘Investment Announcements’.
The AEP tracked 70 companies in the private sector with investments plans ranging between 2-10 years across the petroleum, steel, hospitality and real estate sectors.
* Petroleum sector attracted maximum number of investment announcements, totaling Rs 53,300 crore with IOC and Reliance Group, planning to mop up Rs 43,500 crore and Rs 8000 crore, respectively
* Orissa attracted whopping investment plans of Rs 55,800 crore, especially in steel and oil refinery capacity reflecting the high investment spree by companies in core infrastructure sector
* West Bengal was rated second with major public private partnership projects in the offing and investment worth Rs 31,200 crore (Jai Balaji and IOC)
* Mumbai continued to remain most favoured location by service-based companies with Rs 8,500 crore capex plans in hospitality, entertainment and IT announced
* Fast growing city of Pune attracted Rs 1,334 crore investment helping put Maharashtra at No 3 on investment radar with total planned mop up being Rs 9,834 crore
* With major expansion activity under way, cement and steel sector attracted investments from leading corporates totaling Rs 28,300 crore
* Growing real estate sector saw investment announcements of Rs 18,750 crore
* Hospitality sector attracted major share of investments with tourism sector growing at an average of 19.97%
*Automobile sector ranked fifth on account of the only investment made by Mahindra and Mahindra worth Rs 6,400 crore for setting up research centre in Chennai
* Delhi took a back seat and ranked 12th with low investment announcements of Rs 1,125 crore despite being the hub of major economic and political activities
Top ten states with investments (in Rs crore)
1. Orissa 55,800
2. West Bengal 31,200
3. Maharashtra 9,834
4. Andhra Pradesh 8594
5. Kerala 6000
6. Karnataka 5045
7. Gujarat 4032
8. UP 2410
9. Rajasthan 2000
10. Chennai 1725
Top Ten Sectors (in Rs crore)
1. Petroleum 53,300
2. Steel & Cement 28,300
3. Real Estate 18,750
4. Hospitality 8,660
5. Automobile 6,400
6. Retail 6,200
7. Media 4,850
8. IT 3,140
9. Pharmaceuticals 2,100
10. Telecom 1,872
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First Published: Mon, Oct 29 2007. 01 44 PM IST