BENGALURU: Karnataka has been ranked first in the country in terms of investment proposals until August 2018. However, the actual investments are far lesser than in several other states.As per statistics published by the Department of Industrial Policy and Promotion, Government of India, the state attracted proposed investments of Rs 79,866 crore from January to August. This is a parameter that the state has topped since 2016. The state also accounted for 26.61 per cent of the country’s investment intentions.
However, the actual investments reported tell a different story. In 2017, the state saw a huge drop of 73.2 per cent in investment realisation compared to 2016. In 2018, till August, investment realisation has bounced back and already shown a 92.38 per cent increase from 2017.
But with Rs 4,723 crore of actual investments reported till August, the state ranks eighth in the country. In comparison, the state with the highest actual investment, Maharashtra, saw Rs 21,197 crore of actual investments, with Gujarat close behind at Rs 20,373 crore.For every state, several proposed investments do not translate into actual investments. The difference is quite vast for Karnataka.
Minister for Large and Medium-scale Industries K J George said that the state’s continued first position in proposed investments was a good sign, but not a benchmark. He said the priority was to help industries establish themselves and help them start operations as soon as possible. He further added that the state should capitalise on the investments to create more jobs for the people of Karnataka.