Gujarat, AP, Raj top States in investments
3 States received proposed investment of Rs4,285 cr, Rs3,266 cr and Rs861 cr respectively in Feb
New Delhi: Gujarat, Andhra Pradesh and Rajasthan topped among States in terms of proposed investment of Rs4,285 crore, Rs3,266 crore and Rs861 crore, respectively, during February.
The industries that have attracted investment intentions are electrical equipment, drugs & pharmaceuticals, and fermentation with proposed investments of Rs3,753 crore, Rs1,346 crore, and Rs1,289 crore, respectively, according to official sources.
As many as 84 Industrial Entrepreneurs' Memoranda (IEM) with investment of Rs15,914 crore reported implementation by the way of online filing IEM during February, as compared to 43 IEM with investment of Rs12,611 crore in February last year, sources said.
The Indian electrical equipment industry comprises two broad segments: generation equipment (boilers, turbines, generators, etc.) and transmission & distribution (T&D) and allied equipment like transformers, cables, and transmission lines.
The domestic electrical equipment market production is estimated to be in the region of $50 billion (over Rs3,800 crore). It is expected to grow at a CAGR of 11 to 12 per cent.
The Indian Electrical & Electronics Manufacturers' Association (IEEM) had urged the government to give encouragement to the sector to achieve energy efficiency and climate change targets in September last year.
In the drugs & pharmaceuticals sector too, India is doing well. Our country is the largest provider of generic drugs globally. The Indian pharmaceutical sector supplies over 50 per cent of global demand for various vaccines, 40 per cent of generic demand in the US, and 25 per cent of all medicine in the UK. Globally, India ranks third in terms of pharmaceutical production by volume and 14th by value. The domestic pharmaceutical industry includes a network of 3,000 drug companies and around 10,500 manufacturing units, says a government website.
India enjoys an important position in the global pharmaceuticals sector. The country also has a large pool of scientists and engineers with the potential to steer the industry ahead to greater heights. Presently, over 80 per cent of the antiretroviral drugs used globally to combat AIDS or Acquired Immune Deficiency Syndrome are supplied by Indian pharmaceutical firms, the website says.
Industrial fermentation is chemical engineering that utilizes a chemical change induced by a living organism or enzyme—e.g., bacteria, yeasts, molds, and fungi—to make such products as alcohol, glycerol, acetone, lactic acid, monosodium glutamate, and acetic acid.
Industrial fermentation is closely linked to the biotech sector. India is among the top-12 destinations for biotechnology worldwide. The industry comprises around 5,000 biotech companies, with 4,240 being start-ups and 760 core biotech companies, with the number of start-ups expected to touch 10,000 by 2024.
