Domestic investment announcements crossed Rs 37 lakh crore in last two years, claims SBI report

The announcements of India's domestic investment are increasing at a very fast pace. In the last two financial years, that is FY23 and FY24, its figure has crossed Rs 37 lakh crore. This has been said in a report by the State Bank of India (SBI). There has been a leap in domestic investment plans compared to Rs 10 lakh crore in FY21. It has been contributed by both the government and the private sector.

According to the report, more than Rs 32 lakh crore of investment was announced during the first nine months of FY25, against Rs 23 lakh crore a year ago, a clear indication of spurt in investment activity across the country. According to the report, private sector participation in investment announcements is showing an upward trend. Their share was at around 50 per cent in FY21 which increased to around 68 per cent in FY22 and FY23.

The report states that this trend continued in the first quarter of FY25 as well. The private sector accounted for over 70 percent of the total announced investments. It said, "Investments worth more than Rs 32 lakh crore were announced by the private sector in the first nine months of the current financial year as compared to Rs 23 lakh crore in the previous year."

The report said the manufacturing sector attracted the maximum number of projects. A total of 1,493 announcements of investments worth Rs 5,97,921 crore were made during the first nine months of FY25. The power sector attracted the highest investment value with 1,172 projects worth Rs 13,58,783 crore coming up. The mining sector attracted 72 projects with a proposed investment of Rs 56,628 crore. It included 62 projects in the oil and gas sector, amounting to Rs 35,623 crore. These numbers simply indicated the efforts continuously made by the government to boost economic activity and make favorable conditions for attracting investments in the key sectors to ensure sustained growth over the next few years.