Maharashtra has slipped to third place in foreign investment: Congress


Maharashtra has slipped to third place in foreign investment: Congress

aharashtra Congress president Ashok Chavan on November 13 alleged that the state has not remained a favoured destination for foreign investors under the Bharatiya Janata Party-Shiv Sena regime.

Referring to the figures released by Union government’s Department of Industrial Policy and Promotion (DIPP) in 2016, Chavan alleged that Maharashtra has slipped to third number from the numero uno position because of the bad policies of the current state government.

Chavan pointed out that while Karnataka received investments worth Rs 1.54 lakh crore and Gujarat Rs 56,156 crore, Maharashtra received only Rs 38,193 crore. In 2017, Karnataka received Rs 1.52 lakh crore, Gujarat Rs 79,068 crore and Maharashtra received Rs 48,581 crore. Till September 2018, Karnataka has received Rs 83,236 crore, Gujarat Rs 59,089 crore and Maharashtra Rs 46,428 crore.

“Out of the total proposed foreign investments in 2015, 10.7 per cent was in Maharashtra which slipped to 9.28 per cent in 2016 and 12.29 per cent in 2017.”

– Ashok Chavan

“Till September 2018, Maharashtra has received proposed investments of Rs 13.71 per cent. As compared to Maharashtra, Karnataka has received 37.55 percent in 2016, 38.48 per cent in 2017, 24.58 per cent in 2018,” Chavan added.

He also claimed that one-third of the foreign investments in the country was in Maharashtra during the Congress-NCP tenure.

Industries Minister Subhash Desai discarded Chavan’s allegation claiming that Maharashtra is in the number one position not only in getting foreign investment, but also in converting investment intentions into real investments.

“These are the figures by Ministry of Commerce and Industry. The report which Chavan quoted depict the figures of proposed investments and not actual investments. “It is laughable that a person, who has been a former Chief Minister, makes such claims despite knowing the truth. Why does he want to defame Maharashtra.”

– Subhash Desai

He said that in September, while a11 projects were executed in Maharashtra, only three were executed in Karnataka. According to the figures released by the Reserve Bank of India (RBI) for the quarter ended in June 2018, 31 per cent foreign investments were received by Maharashtra, while Karnataka received 8 per cent investments.


Written by Loknath Das