Mint Primer | State vs state: What investment summits indicate
Subscribe to enjoy similar stories. Between December and February, at least 10 states—big and small—have held summits to showcase their strengths and attract investors. Tall promises have been made.
Commitments, too. Mint explains why these events matter in a fiercely competitive world. Yes.
A series of summits have been held since December as states vie to attract investors. These investments are critical to boost growth and jobs. In December, Rajasthan and Bihar had showcased their strengths and commitments to investors.
This was followed by Odisha in January. February saw a series of such events beginning with West Bengal and followed by Karnataka, Kerala, Madhya Pradesh and Assam. Also read | Will Apple’s UK move spell doom for privacy? Unlike other states, Chhattisgarh did not organize a large event but sought investments through investor connect meets in Delhi and Mumbai.
Jharkhand did so at West Bengal’s investor meet. If the states are to be believed, they have received significant investment commitments (see chart). Rajasthan says it signed memorandums of understanding (MoU) for ₹35 trillion, Odisha ₹16.73 trillion and Karnataka ₹10.27 trillion.
Industrially weak Bihar has attracted investments worth ₹1.81 trillion while Kerala, seen till recently as investor- unfriendly, managed to secure investment commitments worth ₹1.53 trillion after its two-day investor jamboree in Kochi last week. These investments, once implemented, have the potential to create over 2.5 million jobs overall, the states have indicated. Also read | Cooperative bank crisis: Has anything changed since PMC's plight in 2019? Maharashtra, Andhra Pradesh, Telangana, Uttar Pradesh, Tamil Nadu, Kerala, West Bengal and Karnataka participated at the
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