Industrial investment proposals surge 8-fold
Part-A filings of 80 industrial entrepreneur memorandums (IEMs) worth Rs84,561 cr in Jan 2024 as against Rs10,565 cr in Jan and with Rs12,274 cr in Dec in 2023
image for illustrative purpose
Segments In Focus
- Electrical equipment
- Transportation
- Food processing
- Metallurgical industry
New Delhi: This year began with a very sharp spurt in total intended investments as January month witnessed 80 industrial entrepreneur memorandums (IEMs) worth Rs84,561 crore. This was almost eight times more than Rs10,565 crore in January 2023. The spike was significant even on a month-to-month basis, with Rs12,274 crore in December 2023, official sources told Bizz Buzz.
These were Part-A filings of IEM, indicating investment intentions. The number of jobs expected to be created from all these investments is 39,445.
Maharashtra topped the list among States, attracting Rs34,220 crore, or over 40 per cent, of the total Part-A IEM filings, followed by Gujarat (Rs2,881 crore) and Rajasthan (Rs712 crore).
Sectorwise, the electrical equipment industry received most industrial investment intentions, Rs51,674 crore, followed by the transportation sector (Rs1,548 cr) and the food processing industry (Rs1,113 cr).
January 2024 also saw high actual industrial investment (Part-B filings) with Rs24,916 crore, which was almost double of Rs12,481 crore in January 2023 and substantially higher than Rs17,873 crore in December 2023.
Madhya Pradesh got the maximum investment, Rs4,738 crore, followed by Maharashtra (Rs4,005 crore) and Gujarat (Rs3,915 crore).
In terms of sectors, the food processing industry got the highest actual investment of (Rs3,429 crore), followed by the transportation sector (Rs1,612 crore) and the metallurgical industry (Rs407 crore).
The impressive rise in both intended and actual industrial investments in January indicated positive investor sentiment, the sources said. The electrical equipment and food processing industries are getting high investments because of reflecting robust growth potential in these sectors, they added.
Maharashtra and Gujarat remain the top destinations for both intended and actual investments because of their industrial attractiveness and infrastructure readiness. The January data reflects a healthy industrial investment climate in India, the sources said.
