Mineral-rich States such as Chhattisgarh, Orissa and Madhya Pradesh have caught the fancy of investors, attracting proposals worth Rs 8.06 lakh crore last year from India Inc's nation-wide investment plans of Rs 17.40 lakh crore.
Orissa was the top choice of investors and attracted Rs 3.16 lakh crore, followed by Chhattisgarh – Rs 2.86 crore and Madhya Pradesh, Rs 2.04 lakh crore, data compiled by the Department of Industrial Policy and Promotion (DIPP) show.
In a power-deficit country, electrical equipment emerged as the number one choice of investors.
With proposals worth Rs 9.29 lakh crore, the sector accounted for 54 per cent of the total investment plans filed with the government.
Two other favourite sectors were metallurgy, with plans equivalent of Rs 3.92 lakh crore and cement-gypsum at Rs 94,410 crore.
Experts said the investment bias has been towards exploitation of natural resources.
“In these States (Orissa, Chhattisgarh and MP), electricity plants have been set up. Also, these are mineral rich States ... investors may want to set up their base and take advantage of the resources,” Crisil Principal Economist, Mr D.K. Joshi, said.