Skip to main content

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

By Our Representative
An analysis put out by one of India’s top corporate bodies, the Associated Chamber of Commerce and Industry (Assocham), has sought to reveal 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

TRENDING

Savarkar 'criminally betrayed' Netaji and his INA by siding with the British rulers

By Shamsul Islam*
RSS-BJP rulers of India have been trying to show off as great fans of Netaji. But Indians must know what role ideological parents of today's RSS/BJP played against Netaji and Indian National Army (INA). The Hindu Mahasabha and RSS which always had prominent lawyers on their rolls made no attempt to defend the INA accused at Red Fort trials.

India under Modi among top 10 autocratizing nations, on verge of 'losing' democracy status

By Rajiv Shah
A new report, prepared by a top Swedish institute studying liberal democracy, has observed that there has been a sharp “dive in press freedom along with increasing repression of civil society in India associated with the current Hindu-nationalist regime of Prime Minister Narendra Modi.” The report places India among the top 10 countries that “have autocratized the most”. Other countries that have been identified for rolling towards autocracy are -- Hungary, Turkey, Poland, Serbia, Brazil, Mali, Thailand, Nicaragua and Zambia.

RSS supremo Deoras 'supported' Emergency, but Indira, Sanjay Gandhi 'didn't respond'

By Shamsul Islam*
National Emergency was imposed on the country by then Prime Minister Indira Gandhi on June 25-26, 1975, and it lasted for 19 months. This period is considered as ''dark times' for Indian democratic polity. Indira Gandhi claimed that due to Jaiprakash Narayan's call to the armed forces to disobey the 'illegal' orders of Congress rulers had created a situation of anarchy and there was danger to the existence of Indian Republic so there was no alternative but to impose Emergency under article 352 of the Constitution.

Letter to friends, mentors: Coming together of class, communal, corona viruses 'scary'

By Prof (Dr) Mansee Bal Bhargava*
COVID greetings from Ahmedabad to dear mentors and friends from around the world…
I hope you are keeping well and taking care of yourself besides caring for the people around you. I’m writing to learn how is the science and the society coping with the prevention and cure of the pandemic. I’m also writing to share the state of the corona virus that is further complicated with the long-standing class and communal viruses.

Hurried nod to Western Ghat projects: 16 lakh Goans' water security 'jeopardised'

Counterview Desk
Taking strong exception to "virtual clearances" to eco-sensitive projects in the Western Ghats, the National Alliance of People’s Movements (NAPM) in a statement has said urged for a review of the four-lane highway, 400 KV transmission line and double tracking of the railway line through the Bhagwan Mahavir Wildlife Sanctuary and Mollem National Park in Goa.

Disturbing signal? Reliance 'shifting focus' away from Indian petrochemical sector

By NS Venkataraman*
Reliance Industries Ltd (RIL), a large Indian company, has expanded and grown in a spectacular manner during the last few decades, like of which no industrial group in India has performed before. RIL is now involved in multi various activities relating to petroleum refineries, petrochemicals, oil and gas exploration, coal bed methane, life sciences, retail business, communication network, (Jio platform) media/entertainment etc.

Case for nationalising India's healthcare system amidst 'strong' private control

Counterview Desk
A draft discussion note, prepared by Dr Maya Valecha, a Gujarat-based gynecologist and activist, sent to the People's Union for Civil Liberties (PUCL) as also a large number of activists, academics and professionals as an email alert, is all set to create a flutter among policy experts for its strong insistence on nationalizing India’s healthcare system.

Oxfam on WB project: ICT 'ineffective', privatised learning to worsen gender divide

By Rajiv Shah 
A top multinational NGO, with presence in several developed and developing countries, has taken strong exception to the World Bank part-funding Strengthening Teaching-Learning and Results for States (STARS) project in six Indian states – Himachal Pradesh, Kerala, Rajasthan, Madhya Pradesh, Maharashtra and Odisha – for its emphasis on information and communication technology (ICT)-enabled approaches for teacher development, student assessment and digital platform for early childhood education.

Coal blocks for tycoons: Rinchi village tribals may be declared forest land encroachers

By Gladson Dungdung*
On June 18, 2020, the Government of India initiated the process for auctioning 41 coal blocks for commercialisation. These coal blocks are located in different states within India and most of them fall under Fifth Schedule areas. The Indian government claims that their decision to auction these coal areas is a big step towards making the country Atmanirbhar Bharat (self-reliant) in the energy sector.