UP investment growth higher than all

UP has registered the highest investment growth in the country among all states in the past five years, stated Associated Chambers of Commerce and Industry of India, the apex industrial body, while unveiling its report on `UP economic growth & investment performance from the FY12 to 17'.
Notably, most of its development happened in the 2014-2016 period but declined after that.

The report points out that UP has registered an average investment growth of over 40% in last five years, which is higher compared to national average investment growth of 26.6%. This has been on the back of growth in sectors like agriculture and allied sectors, industries, manufacturing and MSMEs, etc. This is the seventh highest investment in India and accounts for 4.9% of In dia's live investment for period FY 12-17.

However, around 1,050 live projects worth Rs.8.78 lakh crore that were committed by the UP government during the period have either been stuck for lack of environment clearance, land availability or procedural delays. Of these, 606 projects worth over Rs.6 lakh crore are under implementation but moving at a slow pace, says the report.

The report added that UP accounts for a share of about 5% in total live investments worth over Rs.177 lakh crore attracted from domestic and global investors representing both public and private sectors across India. Of this, non-financial services account for lion's share of about 39% in the total live investments attracted by UP. Electricity (27%), construction and real estate (22.5%) and manufacturing (about 8%) are other sectors with significant share in this regard.

Non-financial services sector attracted investments worth over Rs 3 lakh crore in FY 17, an increase from Rs 1.7 lakh crore in FY12.

Similarly, manufacturing sector attracted live investments worth over Rs.68,000 crore in FY17, an increase from over Rs.47,000 crore in FY12. Transport services accounted for highest share of 83% in this regard.

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