Press Esc to close
Wednesday 22 October 2014
News updated at 2:29 PM IST
Weather
Max: 0°C
Min : 0°C
In Bangalore
Sunny day
Breaking News

Karnataka stands 3rd for FDI inflows in India after Maharashtra ,Gujarat

Last updated: 24 December, 2009
Subrahmanyan Viswanath, Bangalore, Dec 24, DH News Service:

Inadequate infrastructure notwithstanding, Karnataka continues to be a favourite destinations for foreign direct investment (FDI) in the country.

The State, which attracted US$2,026.4 million worth of FDI in 2008-09, emerged as third largest state with 7.42 per cent share in India’s total FDI of US$27,309 million.

Incidentally, the country, as a whole, recorded 11 per cent growth during fiscal 2009 as against US$24,580 million in fiscal year 2008. In fact, the State, which stood at fourth position last year, has gone notch up this fiscal, indicative of investor’s implicit faith in Karnataka and brand Bangalore.

This thanks primarily to the FDI which kept flowing into the Indian IT sector registering a rise of 19 per cent.  Inflows in computer software and hardware sector during fiscal 2009 stood at US$1,667 million as against US$1,1410 million in 2007-08.


The State, according to Assocham Eco Pulse Study, registered 28.17 per cent growth in FDI investments inflow in fiscal year 2009 as compared to US$1,1615.6 million in previous fiscal of 2008. Incidentally, among southern states, Karnataka has led from front as being most coveted destination than others. While Tamil Nadu with US$1,724.20 million accounting for 6.31 per cent share stood fifth overall, Andhra Pradesh with US$1,237.80 million accounting for 4.53 per cent stood sixth.

Among states Maharashtra took top position at US$12,409.20 million with 45.44 per cent share and Gujarat second spot at $2,825.80 million with 10.35 per cent share. Rightfully, the flow of foreign investment shows inclination towards states with investor friendly business environment. As a result, it notes, that six top states (Maharashtra, Gujarat, Karnataka, New Delhi, Tamil Nadu and Andhra Pradesh), together attracted about 81 per cent of total FDI during fiscal year 2009. Further, despite global recession and financial crises in world’s largest economies, India continued to be held as most safe destination for investment.

Meanwhile, country’s FDI saw 60 per cent surge in November to US$1.74 billion in November as against US$1.08 billion in same month last year. The country upto October 2009 has received US$23,821 million, according to Department of Industrial Planning and Policy as against US$30,588 million in previous fiscal of 2008.  In October 2009 alone it clocked inflow of US$2,332 million as against same month period previous fiscal’s US$1,497 million. Cumulatively, FDI inflows during 2009-10 for eight-month period, however, declined marginally to US$19.38 billion from US$19.79 billion a year ago due to the impact of global credit squeeze felt in earlier months of fiscal.

Go to Top

Photo Gallery
A major fire that broke out in the crackers market in Faridabad...

A major fire that broke out in the crackers market in Faridabad...

On the eve of Diwali Renowned sand artist Sudarsan Pattnaik created a sand sculpture of Kali...

On the eve of Diwali Renowned sand artist Sudarsan Pattnaik created a sand sculpture of Kali...

Indian passengers rest on a crowded platform ahead of Diwali, the Hindu festival of lights...

Indian passengers rest on a crowded platform ahead of Diwali, the Hindu festival of lights...

Indian soccer player Peter Biaksangzuala, center, performs flips as he celebrates a goal...

Indian soccer player Peter Biaksangzuala, center, performs flips as he celebrates a goal...

Woman buying earthen lamps at a market ahead of the Diwali festival...

Woman buying earthen lamps at a market ahead of the Diwali festival...

School children paint their faces during Diwali celebrations...

School children paint their faces during Diwali celebrations...

A huge rangoli in front of Swaminarayan Temple...

A huge rangoli in front of Swaminarayan Temple...

Volunteers of Azad Hind taking out a procession to mark the Azad Hind Foundation Day...

Volunteers of Azad Hind taking out a procession to mark the Azad Hind Foundation Day...

Family members paying tribute to police martyrs during Police Commemoration Day...

Family members paying tribute to police martyrs during Police Commemoration Day...

TRS activists set affire chairs at the TDP office in Nalgonda...

TRS activists set affire chairs at the TDP office in Nalgonda...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523