The 16% of the funds that inflows into the country during the first half of the financial year 2021 (H1FY21) was bagged by the Tamil Nadu. According to the CARE ( Credit Analysis and Research Limited) Rating Tamil Nadu tops the list of investments received in the first half of the financial year 2020-2021. Last year same period the state was ranked third, has now climbed the top spot.
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With 11% share, Tamil Nadu's neighbour Andhra Pradesh ranked the second in the list, Maharashtra, Rajasthan and Karnataka have attracted 7% investments each, says CARE Ratings. A top official in the Industries Department has said about the ranking,“This is due to the proactive steps taken by the State to support industry and facilitate investment. Our performance continues to be strong and we will continue to attract more investments into the State". Last year H1 Andhra tops the list with 23% totaling INR 1.1 trillion.
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In Q1FY21 the TN state topped the list with 17 business investments worth INR 18,236 crore being signed, contributing 18.63% of the total fresh investments. In the Q2FY21, the State attracted a whopping 132 projects worth INR 23,332 crore grabbed second behind Chhattisgarh, which rose in ranking above Tamil Nadu due to public sector investments. This rating comes as an encouragement for the State which already ranked as the second-most favoured investment destination in the country.