Maharashtra Becomes the Top FDI Receiver, With Gujarat Trailing Behind
Maharashtra tops the state-wise FDI equity inflow from October 2019 till June this year, while Gujarat could only secure the third spot. Citing a report by the Department for Promotion of Industry and Internal Trade (DPIIT), state Congress general secretary Sachin Sawant questioned state Deputy Chief Minister Devendra Fadnavis’ claim on Friday that Maharashtra fell behind Gujarat in attracting FDI when Maha Vikas Aghadi (MVA) was in power (from November 2019 to June 2022).
The opposition has been blaming the Eknath Shinde-Devendra Fadnavis government over Gujarat surpassing Maharashtra to win a mega semiconductor project of Vedanta-Foxconn.
“When we are already on the top, how are you going to take us further?” Sawant asked, targeting Fadnavis.
As per Revised Estimates, Maharashtra’s GSDP in 2021-22 was Rs 31,97,000 crore, while that of Gujarat was Rs 19,44,107 crore, a tweet reported.
“Gujarat is not in Pakistan. It is our brother. This is a healthy competition. We want to get ahead of Karnataka, everyone,” Fadnavis had said after the semiconductor project went to the neighboring state.
“Unfortunately, in the last two years our position slipped and Gujarat topped the list and it went from USD 3 billion to USD 23 billion and investment in Maharashtra came down from USD 26 billion to USD 18 billion,” the deputy CM had said.
According to the data shared by the ministry of the department for the promotion of Industry and Internal Trade, Gujarat brought in FDI amounting to $5,241 million, preceded by $2,796 million. Gujarat came in at third with $ 3,200million, with Delhi at fourth with $2,343 million.
Tamil Nadu scored the fifth position with $757 million. India has been able to put a bridle on the rising inflation and secure a safe place with oncoming economic gradual gains and a robust economic position enticing increased FDI investments in Q2 of 2022.
With FDI’s on the rise, a state-wise breakdown reveals the interest our states have been getting due to ongoing projects and progress. Supply-side reforms in the pre-COVID times have provided the nation with the essential spurt it needed to entice FDI and present growth opportunities other major economies lacked during a recent economic slowdown due to geopolitical conflicts. Moreover, inflation-targeted reforms have helped India gain a robust and stabilized platform in Opposition to other nations. Plus, the numbers have showcased strong demand and employment growth which pledges the nation’s profound future growth, considering the circumstances remain conducive to growth.
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