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After 11-year low, industrial investment proposals rise to Rs 1,76,738 cr

After hitting an 11-year low in 2015, investment proposals for the industrial sector rose a tad in the first half of this calendar year from a year ago, reports Banikinkar Pattanayak in New Delhi. The department of industrial policy and promotion (DIPP) has received Rs 1,76,738 crore of such proposals in the January-June period, versus those amounting to Rs 1,73,632 crore a year earlier.

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The fact that the electrical equipment segment alone made up for slightly more than 43% of total investment intentions submitted by companies up to June signals growing interest in capital goods. However, it’s still early to suggest a sustained revival in fixed corporate investment in the coming months, with companies still struggling with huge idle capacities. Actual investments, of course, could vary, and going by the historical trend, would be lower than the proposals.

These investment proposals comprise mostly industrial entrepreneurs memorandum (IEM). IEMs are submitted by promoters for investment in activities including setting up new industrial undertakings, undertaking expansion of units or manufacturing new articles. In the first half of 2016, investment proposals in electrical equipment was followed by textiles and food processing industry — 6.22% and 5.76%, respectively, of envisaged investments, showed the latest data.

 

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Friday, 03 April 2020

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