13% growth in mfg projects execution
96 industrial projects involving Rs39,978-cr investments reported implementation in March as against Rs35,431-cr worth 79 projects in previous corresponding month
image for illustrative purpose
Grounding
♦ With Rs16,199-cr investment, food processing the leader in Apr qtr
♦ Electrical equipment industry bags Rs12,177 cr investment
♦ Chemicals other than fertilizers received Rs11,182 cr
As Bizz Buzz reported earlier, there was a quantum jump in March in Part-A filings, with 110 IEMs and a total proposed investment of Rs169,756 crore. This was 131% over Rs73,333 cr in March 2022
New Delhi: In March, 96 industrial projects worth a total investment of Rs39,978 crore reported implementation. This was almost 13 per cent more than the investment of Rs35,431 crore in the corresponding month last year in 79 projects. The food processing industry has emerged as leader, attracting Rs16,199 crore in the first three months of this calendar year, which was more than the sector got in 2022.
These were Part-B filings of industrial entrepreneur memorandums (IEMs), indicating actual investment. Part-A filings express intentions of industrial investment. As Bizz Buzz reported earlier, there was a quantum jump in March in Part-A filings, with 110 IEMs and a total proposed investment of Rs169,756 crore. This was, of more than 131 per cent over Rs73,333 crore in March 2022.
In the first three months of this calendar year, there were Part-A filings worth Rs208,770 crore, which was almost half of the total such filings of Rs424,101 crore in 2022.
During the January-March 2023 period, 247 IEM with an investment of Rs78,676 reported implementation. Maharashtra attracted the biggest chunk of that, Rs20,825 crore, or more than 26 per cent. It was followed with Gujarat, getting Rs12,662 crore and Odisha, Rs10,220 crore.
In sectoral terms, the food processing industry attracted the maximum actual investment of Rs16,199 crore, as per Part-B filings in the January-March period. As mentioned earlier, the sector received Rs15,679 crore in the entire 2022 and Rs7,236 crore in 2021.
The electrical equipment industry was second, getting Rs12,177 crore. Close behind that was the sector termed as ‘chemicals other than fertilizers’, with Rs11,182 crore.
The government says it is committed to boosting manufacturing. At the recently held BRICS summit, Commerce & Industry Minister Piyush Goyal said: “Manufacturing is a significant part of trade and industry and plays a pivotal role in the growth of a nation. While its dominance in the economy continues, the 21st century has witnessed a significant shift in what we manufacture, how we manufacture and what we manufacture.”
