Andhra Pradesh tops in attracting industrial investments

Vijayawada: Andhra Pradesh has emerged on the top among all other states in attracting industrial investments in 2015-16, pushing the previous year’s topper Maharashtra to the third spot.

Andhra Pradesh attracted an investment of Rs 21,914 crore out of the Rs 1,38,700 crore gross investments across India, the state government said in an official release today, quoting a report by the Reserve Bank of India.

This was 15.8 per cent of the total investments of over Rs 10 crore each unit. In 2014-15, AP’s share in the country’s investments was 8.1 per cent.

Gujarat retained the second place attracting 14.5 per cent of investments, up from 9.5 per cent in 2014-15 while Maharashtra was pushed to the third spot with 10.9 per cent in 2015-16, a decline from 14.8 per cent.

Tamil Nadu also made quantum gains in investment, attracting 9 per cent of the gross and jumping to the fourth spot.

In 2014-15, investment flow into Tamil Nadu was a mere 2.9 per cent.

Karnataka and Madhya Pradesh were tied at the fifth spot garnering 7.2 per cent share each in industrial investments, according to the RBI report.

According to the Industries Department of AP, industrial growth rate in the state shot up from 5.25 per cent in 2014-15 to 11.1 per cent in 2015-16.