News: Reserve Bank of India has released the data on the top attractive investment destination states.
Key Highlights from the study:
- In 2018-19,Andhra Pradesh accounted for the highest share in total cost of projects sanctioned by banks and financial institutions.
- It was followed by Tamil Nadu, Maharashtra, Gujarat, Telangana , Rajasthan and Uttar Pradesh.
- However,for the five year period between 2014-15 to 2018-19, Maharashtra has topped the list followed by Gujarat.
- The study noted that 56% of the projects were taken up in six states- Andhra Pradesh, Gujarat, Karnataka, Maharashtra, Rajasthan and Tamil Nadu indicating their locational advantages over other states.
Factors for attractive investment destination:The deciding factors for a project getting sanctioned in a particular state are:
- location of a project
- accessibility of raw materials
- availability of skilled labour
- adequate infrastructure
- market size and
- growth prospects,