Sluggish Maha impacts overall ind investments
Most of 45% drop in industrial entrepreneurial memorandums in 2022 was due to steep fall in investment inflows into the Western State
Much of the 45 per cent decline in proposed industrial entrepreneurial memorandums (IEMs) in the calendar year 2022 was because of a steep fall in industrial investment in Maharashtra. As Bizz Buzz reported earlier, there were 1,185 Part A filings of IEMs worth Rs4,24,101 crore in 2022 in the country, down from 1,489 filings worth Rs771,428 crore in 2021.
A Part A filing indicates intention to invest, while a Part B filing means actual investment. In 2021, Rs2,77,335 crore worth of Part A filings of IEMs were reported in Maharashtra. This was almost 36 per cent of the total filings of Rs347,978 crore. Last year, however, the western state got just Part A filings worth Rs38,986 crore, or just below 9.2 per cent of the actual investment in the country, official sources told Bizz Buzz.
Gujarat got proposals for Rs1,00,089 crore of industrial investment in 2022, up from Rs92,566 in 2021.
Karnataka also saw an increase, from Rs61,726 crore in 2021 to Rs70,695 in 2022. In the case of Assam, there was a huge jump, from Rs1,221 crore in 2021 to Rs18,582 in 2022. Goa also saw a steep hike, from 163 crore to Rs2,065 crore. Andhra Pradesh also did well, with proposals worth Rs9,373 crore in 2021 growing to Rs16,137 crore in 2022.
The States, which saw major dips were: Odisha, from Rs137,939 crore in 2021 to Rs72,345 crore; Rajasthan, from Rs42,452 to Rs22,155 crore; Tamil Nadu, from Rs29,636 Rs9,383 crore; Uttar Pradesh, from Rs17,278 crore to Rs10,375 crore and Chhattisgarh, from Rs31,564 crore Rs7,443 crore.
All industrial undertakings exempted from the requirements of industrial licensing under Industries (Development & Regulation) Act, 1951, and having an investment in plant and machinery of Rs50 crore and above or a turnover of Rs250 crore and above are stipulated to file IEMs. These include existing units and new undertakings.
