Maharashtra, Gujarat lead in FDI inflows in the first three quarters (2024)

FAQs

Maharashtra, Gujarat lead in FDI inflows in the first three quarters? ›

The State received ₹71,858 crore of FDI inflows during the same period of FY22. FDI inflows into Gujarat during the first three quarters of the current fiscal more than doubled to ₹32,349 crore compared to ₹15,321 crore in the corresponding quarters of the previous fiscal.

Factors attracting foreign direct investment in Gujarat:

Gujarat has the highest number of airports in the country. The state provides excellent network of roads. Professional services to the investors are provided in Gujarat. The state is highly industrialized.

The investment is more than Karnataka ( ₹2,93,149 crore, 331 projects) and Gujarat ( ₹ 2,36,866 crore, 602 projects), states the survey. When it comes to inflow of FDI, Karnataka is in top position.

Maharashtra will receive investments totalling Rs. 1.18 lakh crore in 2022–2023. “As per the findings of the Department of Industrial Policy and Promotion (DIPP) report, Maharashtra has secured the highest share of FDI at 29%, surpassing states like Karnataka with 24% and Gujarat with 17% while Delhi has 13%.

The computer software and hardware sector attracted the highest inflows during the first six months of this fiscal. It was followed by services, trading, chemicals, automobile and construction (infrastructure) activities. The country has registered its highest-ever FDI inflows of $84.84 billion in 2021-22.

A year after topping the list of states in attracting Foreign Direct Investments (FDI), Gujarat has fallen to the sixth place behind Karnataka, Maharashtra, Delhi, Tamil Nadu and Haryana, attracting a mere Rs 20,169 crore in 2021-'22.

The State received ₹71,858 crore of FDI inflows during the same period of FY22. FDI inflows into Gujarat during the first three quarters of the current fiscal more than doubled to ₹32,349 crore compared to ₹15,321 crore in the corresponding quarters of the previous fiscal.

Mumbai, the capital of Maharashtra is considered the financial capital of India with the headquarters of almost all major banks, financial institutions, insurance companies and mutual funds being based in the city. India's largest stock exchange Bombay Stock Exchange, the oldest in Asia, is also located in the city.

It is also home to one of India's most developed automobiles and auto components sectors, as Maharashtra accounts for almost 35.1% of India's automobile output by value. Maharashtra has emerged as a key hub for IT & ITeS, electronics, and captive business outsourcing industries.

The US and Mauritius are the two prominent countries investing in industrial sector of Maharashtra with 16 and 14 per cent share respectively in total FDI, the survey said.

What are the top 3 FDI sectors in India? ›

Top 5 sectors receiving highest FDI Equity Inflow during FY 2022-23 are Services Sector (Fin., Banking, Insurance, Non Fin/ Business, Outsourcing, R&D, Courier, Tech. Testing and Analysis, Other) (16%), Computer Software & Hardware (15%), Trading (6%), Telecommunications (6%) and Automobile Industry (5%).

India received $142.29 billion in foreign direct investments (FDI) between 2019 and 2022 up to which data is available for the entire financial year. Of this, 87.4% or $124.4 billion of the FDI has flown into just 5 states: Maharashtra, Karnataka, Gujarat, Delhi, and Tamil Nadu.

Maharashtra. Home to India's financial capital Mumbai, Maharashtra is the largest state economy in India and hosts every conceivable industry - from petroleum to cement to aerospace, international trade, fashion, steel and several others.

India ranks 16th on Kearney's FDI confidence index; 2nd among emerging countries.

India remains one of the most popular FDI destinations in the world, ranking as the seventh-largest recipient of FDI in 2021 according to the World Investment Record 2021.

Dholera Special Investment Region (DSIR) is a Greenfield industrial planned city in Gujarat's Ahmedabad district, around 100 kilometers to the south-west. A legal framework known as the Special Investment Region Act 2009 was made by the Government of Gujarat.

Detailed Solution. The correct answer is Services Sector. For economic growth, Foreign Direct Investment (FDI) has been a major non-debt financial resource for the economic development of India.

Out of 24 industrial nodes identified on Delhi-Mumbai Industrial Corridor, 6 nodes are located in the State of Gujarat.

Gujarat is poised to grow at 15.5 per cent during the current fiscal 2022-23 and has targeted to almost double its Gross State Domestic Product (GSDP) to Rs 42 lakh crore in the next five years, states data tabled in the state legislature along with the annual budget for financial year 2023-24.

Which is the richest district in Maharashtra? ›

Which is the richest district in Maharashtra? Mumbai Suburban is considered the richest district in Maharashtra, with a GDP per capita of over $13,000.

The economic expansion in Maharashtra, the biggest contributor to national GDP, was estimated at 12.1% for the last fiscal year ended March 31, 2022.

As of 2021, Maharashtra GDP contribution is the largest in the country. It accounts for around 13-14% of the Indian economy. Manufacturing services and agriculture primarily drive Maharashtra GDP. It includes the Bombay Stock Exchange and National Stock Exchange.

Maharashtra has high skilled labour supply over the state. Maharashtra has MUMBAI the financial capital of India. Maharashtra has PUNE the IT giant of India and also the Oxford of india,. Maharashtra has orange capital of India NAGPUR.

Maharashtra is one of India's largest commercial and industrial centres, which has led to its being called the gateway of India. Maharashtra is also famous for its culture and beauty. The ancient cave paintings found at Ajanta and Ellora are UNESCO World Heritage sites and popular tourist destinations.

Abundant Natural Resources. Availability of skilled manpower. Technological advancement.

According to the Economic Survey, the agriculture and allied sector will be the prime driver of the growth in Maharashtra's economy in 2022-23.

Which US states are best for FDI? ›

Minnesota comes in first with a 46.3 percent FDI employment growth rate. Job growth in Minnesota is more than double the national rate. International companies like Rolls-Royce have accelerated Minnesota's job growth.

By region, Europe contributed 70.0 percent of new investment in 2021. By U.S. state, California received the most investment, totaling $64.1 billion, followed by Massachusetts ($53.8 billion) and New York ($34.2 billion).

Key findings from the report include: California topped the list of states receiving the most private equity investment, with $87 billion in capital invested. The top 5 states included California ($87 billion), Texas ($60 billion), Florida ($59 billion), New York ($42 billion), and Massachusetts ($37 billion).

In the region, Vietnam and Indonesia have attracted the largest FDI inflows into the green sector over the past decade ($232-242 billion), followed by Malaysia and Singapore ($153-164 billion). Governments in Southeast Asia devote much of their resources to attracting FDI in the hope of creating jobs.

The US replaced Mauritius as the second-largest source of foreign direct investment (FDI) into India during 2020-21 with inflows of $13.82 billion, according to government data. Singapore remained the top source of foreign direct investment into the country for the third consecutive fiscal at $17.41 billion.

Percent of world Foreign Direct Investment, 2020 - Country rankings: The average for 2020 based on 186 countries was 0.54 percent. The highest value was in China: 21.36 percent and the lowest value was in Switzerland: -21.72 percent. The indicator is available from 1993 to 2020.

As a result, Gujarat is one of the wealthiest states in India thanks to its robust industrial foundation, well-developed agricultural sector, initiatives to support entrepreneurship and small business development, strategic location, and hospitable political climate.

₹−44,930 crore (US$−5.6 billion) 1.8% of GSDP (2023–24 est.) ₹2.25 lakh crore (US$28 billion)(2023–24 est.) ₹2.7 lakh crore (US$34 billion)(2023–24 est.) Gujarat is ranked number one in the pharmaceutical industry in India, with a 33% share in drug manufacturing and 28% share in drug exports.

According to the Department for Promotion of Industry and Internal Trade (DPIIT), India's cumulative FDI inflow stood at US$ 871.01 billion between April 2000-June 2022; this was mainly due to the government's efforts to improve the ease of doing business and relax FDI norms.

Gujarat is poised to grow at 15.5 per cent during the current fiscal 2022-23 and has targeted to almost double its Gross State Domestic Product (GSDP) to Rs 42 lakh crore in the next five years, states data tabled in the state legislature along with the annual budget for financial year 2023-24.

Why is Maharashtra so rich? ›

The Service sector dominates the economy of Maharashtra, accounting for 61.4% of the value addition and 69.3% of the value of output in the state.

Romesh T. Wadhwani (Net worth: $5.1 billion) His family shifted from Pakistan to India during the 1947 Partition. Today, Wadhwani is the richest Gujarati in America.

Maharashtra is the wealthiest state in India, with a Gross State Domestic Product (GSDP) of over $400 billion.

Gujarat has a strong cultural influence of socio-economic-political history. It has a special significance in Indian Political History as it is a birthplace of Mahatma Gandhi and the main influence to the people of Gujarat with his system of non violence movement.

Gujarat has been among the fastest growing states even in the past. Despite poor rainfall, it has made strides in agriculture. Unlike Punjab and Haryana, states which launched the first Green Revolution with government support, Gujarat's agricultural transformation came via the market route.

Stretches out into the Arabian Sea, with a hint of the desert and with a coastline of 1600 kms long is Gujarat – the home state of Mahatma Gandhi, the Father of Nation. It is renowned for its beaches, temple towns and historic capitals. Wildlife sanctuaries, hill resorts and natural grandeur are gifts of Gujarat.

Top investor countries in India in FY 2023. In FY 2023, Singapore accounted for maximum inward FDI in India at US$17.20 billion, followed by Mauritius (US$6.13 billion), the US (US$6.04 billion), UAE (US$3.35 billion), and the Netherlands (US$2.49 billion).

Many studies show that China is one of the most important countries for FDI inflow due to its improved infrastructure [7], continuously open market [8] , strengthened property rights protection [9,10], rapid expansion of economic scale, and competitive cost advantage [11].

However, the projected growth for this year is significantly lower than the 9.1% growth seen in 2021-22. The report, which was tabled a day ahead of the State budget, also said that Maharashtra's 14% share in the national nominal GDP is the highest among all States.

Gujarat is the main producer of tobacco, cotton, and groundnuts in India. Other major crops produced are rice, wheat, jawar, bajra, maize, tur, and gram.

What is the main economy of Gujarat? ›

Agriculture, which is the main stay of the people in Gujarat, provides Gujarat with the required food grains, as well as it also contributes a major share for the adjoining areas.