Haryana, UP top in Aug investments

New Delhi: During August 2023, 131 industrial entrepreneur memorandums (IEMs) with the total investment of Rs 48,414 crore were proposed, which was over 15.6 per cent more than in August 2022. These were Part A filings, indicating investment intentions. Part B IEM filings are actual investments.

Haryana, Uttar Pradesh, and Karnataka were the leading States in terms of proposed investments of Rs 11,834 crore, Rs 8,587 crore, and Rs 7,533 crore, respectively, official sources told Bizz Buzz. Part A filings reflected preference for electrical equipment, the transportation industry, and metallurgical industries, with proposed investment of Rs 16,591 crore, Rs 12,238 crore, and Rs 4,474 crore, respectively.

In August 2022, Part A IEM filings, or industrial investment proposals, were worth Rs 41,865 crore. Therefore, in terms of industrial intentions, there was a rise of more than 15.6 per cent in August 2023.

The rise was much steeper in terms of actual investments in August 2023. There were 96 Part B IEM filings, with the total investment of Rs 48,810 crore. This was almost five times of actual investment of Rs 9,848 crore in August 2022.

The top three States with highest Part A filings did not do very well in the first seven months of the last fiscal. Haryana got just Rs 3,508 crore in the January-July period, Uttar Pradesh Rs 5,615 crore, and Karnataka Rs 11,906 crore. That is, while the Northern States much more than half of the total industrial investment proposals in August, in the case of Karnataka too it was a substantial chunk of 39 per cent.

In the first eight months of 2023, Odisha emerged the winner hands down in terms of industrial investment intentions, attracting Rs 132,410 crore, which was 35.93 per cent of the national total of Rs 368,549 crore. Maharashtra was the distant second with Rs 53,436 crore, or 14.5 per cent the national total, closely followed by Gujarat with Rs 49,441 crore (13.41 per cent).