Ind proposals surge over 3x during Sept

New Delhi: In September 2023, as many as 73 industrial entrepreneur memorandums (IEMs) with a total investment of Rs74,294 crore were proposed, which was 346.34 per cent more than Rs16,645 crore in September 2022. These were Part-A filings, indicating investment intentions, as compared to Part-B IEM filings that show actual investments.

Odisha, Gujarat, and Maharashtra were the leading States in terms of proposed investments of Rs60,106 crore, Rs2,767 crore, and Rs2,626 crore, respectively, official sources told Bizz Buzz. Part-A filings reflected preference for electrical equipment, chemicals (other than fertilizers), and the transportation industry, with proposed investments of Rs6,041 crore, Rs2,017 crore, and Rs1,189 crore, respectively. In terms of actual investment, indicated by Part-B IEM filings, there was a decline in September 2023, as 54 projects with investment of Rs11,242 crore reported implementation of IEMs in comparison with 89 IEMs with investment of Rs18,208 crore in the corresponding month 2022.

In the first three quarters of 2023, Odisha emerged as winner hands down in attracting investment intentions, attracting Rs192,516 crore, or 43.47 per cent of total Rs442,843 crore of Part A IEM filings. Maharashtra with Rs56,062 (12.66%) and Gujarat with Rs52,208 crore (11.81%) came next.

In this period, investment intentions exceeded those in the entire 2022, which was Rs424,101 crore.

In terms of actual investment, or Part-B filings, however, Gujarat topped the list with Rs55,088 crore, which was almost a quarter of the national figure of Rs228,164 crore in the first nine months of 2023. Maharashtra was next with Rs37,755 crore, followed by Punjab, Rs30,912 crore. Among sectors, chemicals (other than fertilisers) reported actual implementation of projects worth Rs64,711 crore. The food processing industry followed with Rs26,081 crore. The next was electrical equipment with Rs26,081 crore.