Gujarat, Second, Jumps Two Places In Attracting FDI

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Gujarat At Second, Jumps Two Places In Attracting FDI

| Updated: June 1, 2024 11:01

The data released by the Department of Promotion of Industry and Internal Traders (DPIIT) reveals that Gujarat has received investment worth Rs 60.600 crore in 2023–24. In the year 2023–23, Gujarat attracted Rs. 37.059 crores of foreign direct investment.

While Maharashtra retains its first place in the list by attracting Rs. 1,25,101 crores and Rs. 1,18,422 crores worth of investment in 2023–24 and 2022–23, respectively, it’s yearly increase pales considerably in comparison to Gujarat. There has been an increase of 83.74% and 63.52% of FDI in Gujarat from 2021-22 to 2022-23 and 2022-23 to 2023-24, respectively, if we check the increase between, 2021-22 to 2023-24, it is a whopping 200%.

Also interestingly, investment in Gujarat stood at 25% of Maharashtra investment in 2021–22, but in 2023–24, the Gujarat investment is almost 50% of Maharashtra investment.

One must not, however, look away from the grim fact while analyzing the data for foreign direct investment in India: around 83% of the total FDI is received by only 4 states, namely, Maharashtra, Gujarat, Karnataka, and Delhi. Also, there is almost no change in the figure of total FDI received nationally, which was Rs 367435 crores in 2022–23 and Rs. 367,899 crores in 2023–24. In fact, the figure showed a downward trend of 15.84% from 2021–22 (Rs. 437,188 crore) to Rs. 367,899 crore in 2023–24.

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