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by IANS |
New Delhi, Jan 24 (IANS) India has recorded a robust 39 per cent surge to Rs 32 lakh crore in domestic investments announced by public and private sector companies during the first nine months (April-Dec) of the current financial year (FY25), compared to the corresponding figure of Rs 23 lakh crore for the same period of the previous financial year, according to data compiled by the State Bank of India (SBI).
The sector-wise analysis in the SBI report shows that the manufacturing sector accounts for the highest number of projects, with 1,493 announcements amounting to Rs 5,97,921 crore in investments during the first nine months of FY25. The power sector attracted the largest investment value, with 1,172 projects worth Rs 13,58,783 crore.
The mining sector recorded 72 projects with a total investment of Rs 56,628 crore, while the oil and gas sector saw 62 projects worth Rs 35,623 crore.
These figures reflect the ongoing efforts to boost economic activity and create a favourable environment for investment in critical sectors, paving the way for sustained growth in the coming years, the report said.
The report highlighted an accelerating trend in investments which registered a close to 4-fold jump to Rs 37 lakh crore in the previous two financial years (FY23 and FY24) from Rs 10 lakh crore recorded in FY21.
The report further stated that there has been a sharp increase in the share of the private sector in investment announcements from around 50 per cent in FY21 to 68 per cent in FY22 and FY23.
It pointed out that this increasing trend continued in the first 9 months of FY25, with private players accounting for over 70 per cent of the total investments that were announced.
This growth highlights the sustained momentum in investment activities across the country, the report added.
--IANS
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