NEW DELHI: Odisha emerged as the hottest investment destination for new projects as investor interest in "prosperous" states such as Maharashtra, Gujarat, Karnataka and Tamil Nadu declined during 2012-13, latest data released by theReserve Bank of India showed.
Through a dozen projects funded by bank loans, Odisha managed to get investors to commit to around Rs 53,000 crore investment, a 27% share of all-India investments. In contrast, Maharashtra is expected to get investment of around Rs 21,400 crore in 70 projects, or 10.9% of the pie. Punjab was the other surprise, moving to the third spot with a dozen projects expected to generate investments of over Rs 20,600 crore.
The numbers aren't good news for the BJP and Gujarat chief minister Narendra Modi, who are using high economic growth and investment in the western state as a key theme ahead of the 2014 general elections. Similarly, Karnataka, where the principal opposition was in power until recently, has lost sheen amid corruption-related charges. But Andhra Pradesh (Rs 11,000 crore) retained the fourth slot despite the state being hit by Telangana-related protests for the past several months, while Gujarat (Rs 10,600 crore) ranked fifth.
Through a dozen projects funded by bank loans, Odisha managed to get investors to commit to around Rs 53,000 crore investment, a 27% share of all-India investments. In contrast, Maharashtra is expected to get investment of around Rs 21,400 crore in 70 projects, or 10.9% of the pie. Punjab was the other surprise, moving to the third spot with a dozen projects expected to generate investments of over Rs 20,600 crore.
The numbers aren't good news for the BJP and Gujarat chief minister Narendra Modi, who are using high economic growth and investment in the western state as a key theme ahead of the 2014 general elections. Similarly, Karnataka, where the principal opposition was in power until recently, has lost sheen amid corruption-related charges. But Andhra Pradesh (Rs 11,000 crore) retained the fourth slot despite the state being hit by Telangana-related protests for the past several months, while Gujarat (Rs 10,600 crore) ranked fifth.
