UP, Gujarat among top 5 states in new investments

UP, Gujarat among top 5 states in new investments: Uttar Pradesh (UP) and Gujarat are among the top 5 states in India in terms of new investments in 2022-23. 

According to RBI these two states together accounted for 57.2% of the total investment proposals made during the year.  In 2022-23, UP attracted the highest share of new investments, with a total project cost of Rs. 43,180 crore.  Followed by Gujarat (Rs. 37,317 crore), Odisha (Rs. 11,810 crore), Maharashtra (Rs. 7,900 crore) and Karnataka (Rs. 7,300 crore).

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Among the top 10 states, others included Tamil Nadu (Rs. 6,100 crore), Telangana (Rs. 5,300 crore), Andhra Pradesh (Rs. 4,900 crore) and Madhya Pradesh (Rs. 4,500 crore). The upsurge in investments in these states as outlined by the RBI study can be attributed to several factors such as improved business environment expansive and growing markets and strategic geographical positioning.

For instance, Uttar Pradesh has been proactively enhancing its investment atmosphere in recent times. It has introduced several initiatives to allure new enterprises, including the UP Investors’ Facilitation Portal the UP Industrial Development Policy 2020 and the UP Startup Policy 2021. Similarly, Gujarat has also demonstrated success in attracting fresh investments due to its robust infrastructure and skilled workforce. Moreover, the presence of Special Economic Zones (SEZs) in Gujarat provides added incentives for investors.