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Odisha emerges as top FDI Destination: Assocham

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TNI Bureau: Odisha has emerged as the top destination for foreign direct investment (FDI) with the proposals worth Rs. 49,527 crore, while developed states like Andhra Pradesh and Gujarat stood second and third respectively in the list.

The state remained number one choice for the overseas investors during the financial year 2011-12 even being ignored by the Centre to get special packages.

According to top industry body Assocham, Odisha has received 17 FDI proposals worth about Rs 49,527 crore in the total FDI proposed across the country.

While Odisha bagged 21 per cent total FDI, Andhra got 19 per cent (Rs 33,936 crore for 70 proposals) and Gujarat 11 per cent (Rs 20,258 crore for 131 proposals).

India received a total of 763 FDI proposals worth over Rs. 1.78 lakh crore during 2011-12. While Odisha became the favourite destination for the investors, states like Gujarat and Andhra failed to attract the overseas investors’ attention.

Chattisgarh and Karnataka placed fourth and fifth in the list of top five investment destinations with FDI proposals worth over Rs. 20,000 crore and 14,000 crore, respectively.

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