Assocham says Gujarat investment declined 54.5% amid Vibrant claims of Rs 25 lakh crore worth proposals

An analysis put out by one of India’s top corporate bodies, the Associated Chamber of Commerce and Industry (Assocham), has revealed that Gujarat’s industrial investment proposals on year-on-year basis have declined by a whopping 54.5%. The analysis is considered significant, as it seeks to indirectly contrast what happened at the Vibrant Gujarat business summit, where a claim was made that the state had attracted a whopping Rs 25 lakh crore worth of investment proposals, highest ever.

As against Rs 25 lakh crore, Assocham analysis said, during January-September 2014 Gujarat received just about Rs 31,788 crore worth of investment. This is, it added, as against more than double as much -- Rs 69,847 crore – investment received during January-September 2013.
The industry body’s analysis is based on analysis of industrial entrepreneurial memorandums (IEMs), letters of intent (LoIs) and direct industrial licenses (DILs), released by the Government of India’s Department of Industrial Policy and Promotion.
The analysis, significantly, comes amidst Prime Minister Narendra Modi’s effort to strongly showcase Gujarat as the model of development for the country through the Vibrant Gujarat investment summit. Not only Gujarat; India under Modi, Assocham contended a fortnight ago (January 7), has considerably slowed down. Thus, country received investment proposals worth Rs.362,805 crore in January-September 2014, a drop from Rs.451,643 crore in the corresponding period of 2013.
It is not known what made Assocham come up with such a short-period analysis, which is generally not considered advisable for investment proposals. Experts believe, investment proposals may take a stride in a particular year, but may go down in another, depending on the type of projects proposed. Hence, they are not credible. It is advisable to take a longer duration analysis, say of five years, while calculating investments.
Assocham did not stop here. It went ahead by declaring that Chhattisgarh has acquired “lion’s share” of about 45 per cent in the total amount of proposed investments in India, with Rs 1,61,836 crore, during January-September 2014.
This is, it said, nearly 420 per cent over the corresponding period of January-September 2013. “Other states, which registered significant growth in terms of proposed investments, were Punjab (184 per cent), Karnataka (166 per cent), Himachal Pradesh (108 per cent) and Assam (25 per cent)”, it , suggesting Gujarat, on the other hand, registered a decline.
Assocham "analyses" come a week after it officially sharply criticized the Modi Cabinet's decision to peg the reserve price for 900 MHz spectrum above the telecom regulator's recommendation, declaring, “it will not only impact consumers but also affect the government's Digital India initiative.” It wrote a letter to Prime Minister Narendra Modi saying the move would impact growth and expansion of quality networks.
"The industry is deeply concerned with the Cabinet's decision to raise the reserve price for 900 MHz spectrum," media reports quoted Assocham as saying. The reserve prices for the proposed auction of spectrum in the 900 MHz band in 18 service areas was increased by the Cabinet by 32.5% over the reserve prices recommended by the Telecom Regulatory Authority of India.

Comments

Modi govt distancing from Adanis? MoEFCC 'defers' 1500 MW project in Western Ghats

Is the Narendra Modi government, in its third but what would appear to be a weaker avatar, seeking to show that it would keep a distance, albeit temporarily, from its most favorite business house, the Adanis? It would seem so if the latest move of the Ministry of Environment, Forests and Climate Change (MoEFCC) latest to "defer" the Adani Energy’s application for 1500 MW Warasgaon-Warangi Pump Storage Project is any indication. Quoting the September 27 MoEFCC's Expert Appraisal Committee (EAC) meeting, released on October 2, a senior scholar-activist of the top environmental advocacy group South Asia Network on Dams, Rivers and People (SANDRP) has reported that in a "respite" to forest dwelling communities, fragile biodiversity and community conservation areas, the EAC has "rejected" the Adani application for project. However, the window for continuing with the controversial project hasn't been entirely closed. To quote Parineeta Dandekar, the ...

NHRC failing to 'effectively address' human rights violations: NGO groups tell UN-linked body

In a joint submission to the Global Alliance of National Human Rights Institutions' (GANHRI's) Sub Committee on Accreditation (SCA), two civil society groups -- All India Network of NGOs and Individuals working with National and State Human Rights Institutions (AiNNI) and Asian NGO Network on National Human Rights Institutions (ANNI) -- have said that the National Human Rights Commission's (NHRC's) accreditation, deferred in 2016, 2023, and 2024, fails to find space on its website. In their submission to the top global body which coordinates the relationship between NHRIs and the United Nations human rights system, AiNNI and ANNI said, the accreditation status of NHRC "has not been updated" since 2017, and as of September 21, 2024, the "website falsely states that the NHRC has retained its 'A' accreditation status from SCA for four consecutive five-year terms." They added, such omission diminishes "civil society's trust" in N...

Will Supreme Court also come forward to end legally-sanctioned segregation on religious lines in Gujarat?

My Vadodara-based activist-friend, Jagdish Patel, who has long championed the cause of the victims of silicosis, a deadly occupational disease, has forwarded to me an interesting blog by the executive editor of Pulitzer Center, Marina Walker Guevara, written in the context of the U.S. election results, in which Donald Trump has won.

Two persons with old typewriters off SLC's fashionable street, writing poems on postcards!

A few days back, after taking a round of beautiful hills surrounding Salt Lake City (SLC), we drove down to a popular, somewhat fashionable spot -- Harvey Milk Blvd -- not very far from the Down Town. We visited a few shops, where mainly souvenirs were being sold, and also a few sex toys! Finally, we visited an ice cream parlour, where we tasted Italian ice cream. It is a well decorated parlour, with different coloured lovely goodies hanging across the restaurant. I took a lemon flavoured ice cream -- really liked it. The parlour is called Dolcetti Gelato. Thereafter, while returning to take the car, we found two persons sitting on outdoor chairs, with old manual typewriters on makeshift tables. They were typing out exactly the same way I used to in 1980s to do my stories before faxing them from Moscow to Patriot office in Delhi.

When Congress leaders in Gujarat forgot to remember Jawaharlal Nehru on November 14

It was November 14, Jawaharlal Nehru’s 135th birth anniversary. While the national leaders everywhere – ranging from Congress’ bigwigs to Narendra Modi and Rajnath Singh – paid their tributes to the India’s first Prime Minister who also happened to be one of the most important freedom fighters, I was a little surprised: The Congress leaders in my state, Gujarat, seemed to ignore him at the place where mediapersons were called to interact with them.

Is hiding promise of bribe in India a crime in US? That's what CNN reports on Adanis

A top ex-bureaucrat -- whom I know as one of the most reasonable analysts -- has forwarded me a CNN story titled "Billionaire Gautam Adani indicted in New York on bribery charges". The ex-official has wondered why is Indian media quiet about the news. I can't say why India media is quiet, but, written by Ramishah Maruf, and datelined New York, the story quotes a US Department of Justice statement as saying that Adani and other executives were "indicted" in New York for "roles" in a multi-billion-dollar fraud scheme.

Strange rituals observed around Diwali and Gujarati new year amidst celebrations

While the fever around that the Gujarati new year, Bestu Varas, which fell on the next day of Diwali, November 1, has still not fully subsided, with noise of crackers still heard in the urban area where I live, what appears strange to me how on the eve of every Diwali is how superstitions take round among believers. One of these I noticed is, people cook some bit of food on a day before Diwali, which is called Kali Chaudas, and place it on the crossroads.

Search This Blog