Industrial investment proposals jump 4x

Production-linked incentive schemes in various sectors have played a key role in attracting industrial investment

Sector-wise Investments:

♦ Electrical equipment with Rs 53,430 cr investment tops the list

♦ Chemicals got maximum actual investment of Rs 2,631 cr

♦ Metallurgical industry received Rs 2,252 cr investments

♦ Food processing industry obtained Rs 1,260 cr actual investment

New Delhi: Continuing the spurt in industrial entrepreneur memorandums (IEMs) in January, February too witnessed a spike in February with intended investments growing more than four times to Rs 146,025 crore in 110 projects on a year-to-year basis. In February 2023, Part A IEM filings, indicating investment intentions, were worth Rs 28,449 crore in 107 projects.

Even on a month-to-month basis, there was a major rise in intended investments as in January 2024 these were Rs 84,561 crore.

In terms of actual industrial investments, however, there was a slight decline in February, with the investments coming down to Rs 27,539 crore from Rs 28,294 crore in February 2023, official sources told Bizz Buzz. But there was a rise on a month-to-month basis, as actual investments were Rs 24,916 crore.

Maharashtra led in industrial investment proposals in February, getting Rs 59,995 crore in 25 projects, followed by Gujarat Rs 29,664 crore in 14 and Haryana Rs 21,090 crore in three.

Sectorwise, electrical equipment with Rs 53,430 crore, followed by chemicals (other than fertilizers) with Rs 28,818 crore.

Gujarat and Maharashtra were also the top States getting maximum actual industrial investment in February—Rs 3,889 crore and Rs 3,751 crore, respectively. Uttar Pradesh, with Rs 1,559 crore, was third in the list.

Chemicals (other than fertilizers) got the maximum actual investment, Rs 2,631 crore, followed by metallurgical industry, Rs 2,252 crore, and food processing industry, Rs 1,260 crore.

While 51,517 jobs are expected to be generated by proposed investments, 43,329 jobs are likely to come with actual industrial investments in February.

The February data reflects the industrial investment climate in India becoming healthier, with substantial contributions from key states and industries, the sources said, adding that this is sustaining industrial growth and employment generation.

Production-linked incentive schemes in various sectors have played a key role in attracting industrial investment, the sources said.