Investments In Rajasthan Q3 Fy'09: Aim
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ASSOCHAM INVESTMENT METER RAJASTHAN March 2009
Prepared by: Nusrat Ahmad ASSOCHAM Research Bureau
Email: [email protected] url: http://www.assocham.org/arb/
RAJASTHAN
In dark clouds of economic slowdown, silver lining emerged for Rajasthan as the western desert state attracted highest investment plans during OctoberDecember 2008-09 by corporate India, bringing a considerable shift in its ranking order, among the 21 India states.
Rajasthan is turning to be one of the most favourable investment destinations, carving top position in the third quarter of the financial year 2008-09 (OctoberDecember), witnessing a major jump from 13th position in the same period of the financial year 2007-08, according to a paper brought out by ASSOCHAM.
As India Inc expressed investment plans in Rajasthan, the state registered a major jump by 245.84 per cent during October-December 2008-09 as compared to the corresponding period of the last year (2007-08).
The Indian desert state, Rajasthan, have lured the investors to express their plans for undertaking projects in the region in the third quarter of the current fiscal with Rs.11, 102 crore as compared to Rs. 3,210 crore in the same period of the previous fiscal registering a maximum growth of 245 per cent.
ASSOCHAM observed that the number of companies planning investments in Rajasthan dipped by 133 per cent from 7 domestic corporate houses expressing to investments during Oct-December 2007-08 to just 3 major Indian players in the same months of the fiscal 2008-09.
Introduction Data Source The report prepared is based on the data tracked from various investments announcements planned by the Indian companies, in the domestic market in print and electronic media.
Time period The data analyzed for the report include the time period January -December 2007-08 and 2008-09 respectively.
Methodology The corporate houses that have expressed investment plans for a particular region have indicated a spread of 3-5 years for their plans to fructify.
Ranks have been assigned, based on the descending order of the amount of investment planned for the state. Comparative analysis has been drawn for the same time period of two different years.
India Inc. investment announcements are planned (not realized), hence industrialists express to invest a large sum of amount in particular sector across 2-3 states, but they do not disclose the ratio of the sum in each state. Thus, to avoid the problem of double counting, ARB, divide the capex amount in equal ratio among the number of states where investment is planned.
Corporate investments in Rajasthan (Oct-Dec 2008-09 over Oct-Dec 2007-08) During the year 2007, the Indian economy boom as Indian industrialist expressed to invest across various sectors and states with the purpose to modernize, expand and set-up new plants. However, the preceding year (2008), started with moderate downfall in terms of the capex planned by the business leaders.
Investment plans by the corporate sector is driven by expectations about the future. Projects are undertaken in those regions where India Inc. foresees returns. In light of this the year 2008 started with turbulence in the global financial markets leading to credit crunch and shaking investors’ confidence, becoming a cause of concern for the corporate India. However, states like Rajasthan tapped the opportunity in attracting Indian corporate houses to invest in sectors such as energy, hospitality and food processing.
During October-December 2008-09, India Inc. expressed to invest Rs. 11, 102 crore in Rajasthan, registering a sharp growth by 245 per cent as compared to the corresponding period of the last year (2007-08), with investment announcements worth Rs. 3,210 crore.
(Planned Capex in Rs crore) Oct-Dec 2007 Oct-Dec 2008
3,210
11,102
Source: Assocham Investment Meter.
Growth rate (in %)
245.84
Major sectors attracting investments announcements (Oct-Dec2008 over Oct-Dec 2007)
The state with prospects and resources for mineral, textiles, agro processing, chemicals, energy and cement sectors attracted Indian corporate leaders towards the state to utilize it and expand their businesses.
During the third quarter of 2007-08 hospitality sector topped the charts with maximum capex announced worth Rs. 1800 crore in the region. However, in the same period of the financial year 2008-09, the energy sector notched the top position in Rajasthan witnessing whooping amount worth Rs. 11,000 crore by major domestic player.
In October-December 2007-08, the metals and mining sector witness second highest investment announcements totaling Rs. 450 crore, followed by FMCG sector attracting Rs. 310 crore in the desert region. However, in the same period of FY 2008-09, food processing sector attracted 2nd highest amount of planned capex worth Rs. 101.5 crore.
Top Sectors attracting investments for the period October-December 2007-08 Capex (in Rs. crore) Sno. Sector
Top Sectors attracting investments for the period October-December 2008-09 Capex (in Rs. crore) Sno. Sectors
1
Hospitality
1800
1
Energy
11000
2 3
Metals & mining FMCG
450 310
2
Food Processing
101.5
Source: Assocham Investment Meter.
Top Indian Corporate Houses expressing investment plan: (Oct-Dec2008-09 over Oct-Dec 2007-08)
ASSOCHAM observed that the number of companies planning investments in Rajasthan dipped by 133 per cent from 7 domestic corporate houses in OctDecember 2007-08 to just 3 major Indian players in the same month of the fiscal 2008-09. In Oct-Dec 2007-08…. Dawney Day Hotels planned the largest investment decision of Rs. 1600 crore for setting up four star hotel in Jaipur. JB group ranked second with Rs. 500 crore investment announcements in diversified category including sectors such as mining, oil & gas, alternative energy, diamond & jewellery, hospitality and real estate.
Hindustan Copper Ltd ranked third with investment plans amounting to Rs. 450 crore with the purpose of developing two green filed copper mines
Adarsh Derivaties had come up with an investment decision of Rs. 310 crore occupying fourth rank, for setting up 3 plants for processing and storage of organic products in the region. In October-December 2008-09…. Cairn India Ltd made the largest capital expenditure announcement worth Rs. 11,000 crore for the development including a modern processing terminal at Mangala along with a 600 km evacuation pipeline in the West Coast.
Top Indian companies planning to invest during the period Oct-December 2007 -08 Capex
Top Indian companies planning to invest during the period Oct-December 2008-09 Capex
Sno.
Company Name
(Rs. crore)
Sno.
Company Name
(Rs. crore)
1 2 3
Dawney Day Hotels JB Group Hindustan Copper Ltd
1,600 500 450
1 2
Cairn India Ltd Vikas WSP
11,000 100
4 5
Adarsh Derivaties 310 Panaromic Universals 200 Source: Assocham Investment Meter
3
The Sommelier
1.50
In the food processing sector, two companies namely, Vikas WSP and The Sommelier planned investments during the period worth Rs. 100 crore and Rs. 1.5 crore respectively.
Vikas WSP plans to utilize the amount to produce 8,000 tonnes of organic guarseed, whereas, The Sommelier, a wine lounge company expressed to expand the business.
ANNEXURE I Growth rate (q-0-q) (Oct-Dec 2008-09 over Oct-Dec 2007-08)
State Rajasthan Bihar Punjab UP MP Karnataka Delhi Gujarat Himachal Pradesh Aandhra Pradesh Haryana Orissa Maharashtra Tamil Nadu Assam Jharkhand West Bengal Total
Growth Rate (in %) 245.84 100.00 41.66 26.85 -47.76 -53.82 -59.65 -64.13 -84.00 -84.04 -86.87 -88.68 -91.92 -95.56 -97.53 -98.76 -98.97 -75.27
Source: Assocham Investment Meter, Oct-Dec 2007-08 & 2008-09.
Ranking in descending order of the amount of investment planned for the state by corporate India (Oct-Dec 2008-09 over Oct-Dec 2007-08)
Rank State Rajasthan Madhya Pradesh Orissa Maharashtra Karnataka Gujarat Uttar Pradesh Andhra Pradesh Haryana Tamil Nadu Punjab Delhi West Bengal Bihar Jharkhand Himachal Pradesh Assam Chattisgarh J&K Kerala Uttaranchal
Oct-Dec 2008-09 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21
Oct-Dec 2007-08 13 6 3 1 8 10 14 7 9 4 17 15 2 21 5 16 11 20 19 18 12
Source: Assocham Investment Meter, Oct-Dec 2007-08 & 2008-09
ANNEXURE II
Investments in Rajasthan during the calendar year 2008 (January-December)
2008 was not an investor friendly year for Indian corporates, sectors and states, as impact of slowdown was well reflected in the expansion, modernization and up gradation plans of India Inc, with declining numbers in investment announcements.
However, the year 2008 saw major shifts in investment destinations, as Rajasthan, considered to be one time BIMARU state, have shed its image, getting attention from corporate India for investment purpose to utilize the untapped resources in the region. The desert state witnessed investments worth Rs. 93,354.78 crore during the period January-December 2008.
TOP 5 SECTORS WITH INVESTMENTS PLANS DURING JAN-DEC 2008 (in Rajasthan)
Sectors
Amount (Rs. Crore)
Real Estate Energy Infrastructure Ratail Aviation Steel
43,550.00 19,960.00 6,950.02 6,700.00 6,666.67 5,600.00
Source: Assocham Investment Meter
TOP 5 COMPANIES PLANNING INVESTMENTS DURING JAN-DEC 2008 (in Rajasthan)
Company
Amount (Rs. Crore)
Omaxe Ltd
40,000
Parsvnath Developers Cairn India Ltd. Jindal Stainless Ltd Sun City Projects
20,000 19,400 5,600 1,800
Sector Real Estate Aviation, Infrastructure, Retail Energy Steel Real Estate
ASSOCHAM Research Bureau
ASSOCHAM Research Bureau (ARB) is the research division of Associated Chambers of Commerce and Industry of India. The Research Bureau undertakes studies on various economic issues, policy matters, financial markets, international trade, social development, sector wise performance and monitoring global economy dynamics.
The main banners of the Bureau are: ASSOCHAM Eco Pulse (AEP) studies are based on the data provided by various institutions like Reserve Bank of India, World Bank, IMF, WTO, CSO, Finance Ministry, Commerce Ministry, CMIE etc. ASSOCHAM Business Barometer (ABB) are based on the surveys conducted by the Research Team to take note of the opinion of leading CEOs, MDs, CFOs, economists and experts in various fields. ASSOCHAM Investment Meter (AIM) keeps the track of the investment announcements by Indian industrialists in different sectors and across various states and cities. ASSOCHAM Placement Pattern (APP) is based on the sample data that is tracked on a daily basis for the vacancies posted by companies via job portals and advertisements in the national and regional dailies, journals and newspaper. Data is tracked for 60 cities and 30 sectors that are offering job opportunities in India.
THE KNOWLEDGE CHAMBER Evolution of Value Creator ASSOCHAM initiated its endeavour of value creation for Indian industry in 1920. It has witnessed upswings as well as upheaval of Indian Economy and contributed significantly by playing a catalytic role in shaping up the Trade, Commerce and Industrial environment of the country. ASSOCHAM derives its strength from the following Promoter Chambers: Bombay Chamber of Commerce and Industry, Mumbai; Cochin Chamber of Commerce and Industry, Cochin; Indian Merchant's Chamber, Mumbai; The Madras Chamber of Commerce and Industry, Chennai; PHD Chamber of Commerce and Industry, New Delhi.
VISION Empower Indian enterprise by inculcating knowledge that will be the catalyst of growth in the barrier less technology driven global market and help them upscale, align and emerge as formidable player in respective business segment
MISSION As representative organ of Corporate India, ASSOCHAM articulates the geniune, legitimate needs and interests of its members. Its mission is to impact the policy and legislative environment so as to foster balanced economic industrial and social development. We believe education, health, agriculture and environment to be the critical success factors.
GOALS To ensure that the voice and concerns of ASSOCHAM are taken note of by policy makers and legislators. To be proactive on policy initiatives that are in consonance with our mission. To strengthen the network of relationships of national and international levels/forums. To develop learning organization, sensitive to the development needs and concerns of its members. To broad-base membership. Knowledge sets the pace for growth by exceeding the expectation, and blends the wisdom of the old with the needs of the present.
Prepared by: Nusrat Ahmad ASSOCHAM Research Bureau
Email: [email protected] url: http://www.assocham.org/arb/
RAJASTHAN
In dark clouds of economic slowdown, silver lining emerged for Rajasthan as the western desert state attracted highest investment plans during OctoberDecember 2008-09 by corporate India, bringing a considerable shift in its ranking order, among the 21 India states.
Rajasthan is turning to be one of the most favourable investment destinations, carving top position in the third quarter of the financial year 2008-09 (OctoberDecember), witnessing a major jump from 13th position in the same period of the financial year 2007-08, according to a paper brought out by ASSOCHAM.
As India Inc expressed investment plans in Rajasthan, the state registered a major jump by 245.84 per cent during October-December 2008-09 as compared to the corresponding period of the last year (2007-08).
The Indian desert state, Rajasthan, have lured the investors to express their plans for undertaking projects in the region in the third quarter of the current fiscal with Rs.11, 102 crore as compared to Rs. 3,210 crore in the same period of the previous fiscal registering a maximum growth of 245 per cent.
ASSOCHAM observed that the number of companies planning investments in Rajasthan dipped by 133 per cent from 7 domestic corporate houses expressing to investments during Oct-December 2007-08 to just 3 major Indian players in the same months of the fiscal 2008-09.
Introduction Data Source The report prepared is based on the data tracked from various investments announcements planned by the Indian companies, in the domestic market in print and electronic media.
Time period The data analyzed for the report include the time period January -December 2007-08 and 2008-09 respectively.
Methodology The corporate houses that have expressed investment plans for a particular region have indicated a spread of 3-5 years for their plans to fructify.
Ranks have been assigned, based on the descending order of the amount of investment planned for the state. Comparative analysis has been drawn for the same time period of two different years.
India Inc. investment announcements are planned (not realized), hence industrialists express to invest a large sum of amount in particular sector across 2-3 states, but they do not disclose the ratio of the sum in each state. Thus, to avoid the problem of double counting, ARB, divide the capex amount in equal ratio among the number of states where investment is planned.
Corporate investments in Rajasthan (Oct-Dec 2008-09 over Oct-Dec 2007-08) During the year 2007, the Indian economy boom as Indian industrialist expressed to invest across various sectors and states with the purpose to modernize, expand and set-up new plants. However, the preceding year (2008), started with moderate downfall in terms of the capex planned by the business leaders.
Investment plans by the corporate sector is driven by expectations about the future. Projects are undertaken in those regions where India Inc. foresees returns. In light of this the year 2008 started with turbulence in the global financial markets leading to credit crunch and shaking investors’ confidence, becoming a cause of concern for the corporate India. However, states like Rajasthan tapped the opportunity in attracting Indian corporate houses to invest in sectors such as energy, hospitality and food processing.
During October-December 2008-09, India Inc. expressed to invest Rs. 11, 102 crore in Rajasthan, registering a sharp growth by 245 per cent as compared to the corresponding period of the last year (2007-08), with investment announcements worth Rs. 3,210 crore.
(Planned Capex in Rs crore) Oct-Dec 2007 Oct-Dec 2008
3,210
11,102
Source: Assocham Investment Meter.
Growth rate (in %)
245.84
Major sectors attracting investments announcements (Oct-Dec2008 over Oct-Dec 2007)
The state with prospects and resources for mineral, textiles, agro processing, chemicals, energy and cement sectors attracted Indian corporate leaders towards the state to utilize it and expand their businesses.
During the third quarter of 2007-08 hospitality sector topped the charts with maximum capex announced worth Rs. 1800 crore in the region. However, in the same period of the financial year 2008-09, the energy sector notched the top position in Rajasthan witnessing whooping amount worth Rs. 11,000 crore by major domestic player.
In October-December 2007-08, the metals and mining sector witness second highest investment announcements totaling Rs. 450 crore, followed by FMCG sector attracting Rs. 310 crore in the desert region. However, in the same period of FY 2008-09, food processing sector attracted 2nd highest amount of planned capex worth Rs. 101.5 crore.
Top Sectors attracting investments for the period October-December 2007-08 Capex (in Rs. crore) Sno. Sector
Top Sectors attracting investments for the period October-December 2008-09 Capex (in Rs. crore) Sno. Sectors
1
Hospitality
1800
1
Energy
11000
2 3
Metals & mining FMCG
450 310
2
Food Processing
101.5
Source: Assocham Investment Meter.
Top Indian Corporate Houses expressing investment plan: (Oct-Dec2008-09 over Oct-Dec 2007-08)
ASSOCHAM observed that the number of companies planning investments in Rajasthan dipped by 133 per cent from 7 domestic corporate houses in OctDecember 2007-08 to just 3 major Indian players in the same month of the fiscal 2008-09. In Oct-Dec 2007-08…. Dawney Day Hotels planned the largest investment decision of Rs. 1600 crore for setting up four star hotel in Jaipur. JB group ranked second with Rs. 500 crore investment announcements in diversified category including sectors such as mining, oil & gas, alternative energy, diamond & jewellery, hospitality and real estate.
Hindustan Copper Ltd ranked third with investment plans amounting to Rs. 450 crore with the purpose of developing two green filed copper mines
Adarsh Derivaties had come up with an investment decision of Rs. 310 crore occupying fourth rank, for setting up 3 plants for processing and storage of organic products in the region. In October-December 2008-09…. Cairn India Ltd made the largest capital expenditure announcement worth Rs. 11,000 crore for the development including a modern processing terminal at Mangala along with a 600 km evacuation pipeline in the West Coast.
Top Indian companies planning to invest during the period Oct-December 2007 -08 Capex
Top Indian companies planning to invest during the period Oct-December 2008-09 Capex
Sno.
Company Name
(Rs. crore)
Sno.
Company Name
(Rs. crore)
1 2 3
Dawney Day Hotels JB Group Hindustan Copper Ltd
1,600 500 450
1 2
Cairn India Ltd Vikas WSP
11,000 100
4 5
Adarsh Derivaties 310 Panaromic Universals 200 Source: Assocham Investment Meter
3
The Sommelier
1.50
In the food processing sector, two companies namely, Vikas WSP and The Sommelier planned investments during the period worth Rs. 100 crore and Rs. 1.5 crore respectively.
Vikas WSP plans to utilize the amount to produce 8,000 tonnes of organic guarseed, whereas, The Sommelier, a wine lounge company expressed to expand the business.
ANNEXURE I Growth rate (q-0-q) (Oct-Dec 2008-09 over Oct-Dec 2007-08)
State Rajasthan Bihar Punjab UP MP Karnataka Delhi Gujarat Himachal Pradesh Aandhra Pradesh Haryana Orissa Maharashtra Tamil Nadu Assam Jharkhand West Bengal Total
Growth Rate (in %) 245.84 100.00 41.66 26.85 -47.76 -53.82 -59.65 -64.13 -84.00 -84.04 -86.87 -88.68 -91.92 -95.56 -97.53 -98.76 -98.97 -75.27
Source: Assocham Investment Meter, Oct-Dec 2007-08 & 2008-09.
Ranking in descending order of the amount of investment planned for the state by corporate India (Oct-Dec 2008-09 over Oct-Dec 2007-08)
Rank State Rajasthan Madhya Pradesh Orissa Maharashtra Karnataka Gujarat Uttar Pradesh Andhra Pradesh Haryana Tamil Nadu Punjab Delhi West Bengal Bihar Jharkhand Himachal Pradesh Assam Chattisgarh J&K Kerala Uttaranchal
Oct-Dec 2008-09 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21
Oct-Dec 2007-08 13 6 3 1 8 10 14 7 9 4 17 15 2 21 5 16 11 20 19 18 12
Source: Assocham Investment Meter, Oct-Dec 2007-08 & 2008-09
ANNEXURE II
Investments in Rajasthan during the calendar year 2008 (January-December)
2008 was not an investor friendly year for Indian corporates, sectors and states, as impact of slowdown was well reflected in the expansion, modernization and up gradation plans of India Inc, with declining numbers in investment announcements.
However, the year 2008 saw major shifts in investment destinations, as Rajasthan, considered to be one time BIMARU state, have shed its image, getting attention from corporate India for investment purpose to utilize the untapped resources in the region. The desert state witnessed investments worth Rs. 93,354.78 crore during the period January-December 2008.
TOP 5 SECTORS WITH INVESTMENTS PLANS DURING JAN-DEC 2008 (in Rajasthan)
Sectors
Amount (Rs. Crore)
Real Estate Energy Infrastructure Ratail Aviation Steel
43,550.00 19,960.00 6,950.02 6,700.00 6,666.67 5,600.00
Source: Assocham Investment Meter
TOP 5 COMPANIES PLANNING INVESTMENTS DURING JAN-DEC 2008 (in Rajasthan)
Company
Amount (Rs. Crore)
Omaxe Ltd
40,000
Parsvnath Developers Cairn India Ltd. Jindal Stainless Ltd Sun City Projects
20,000 19,400 5,600 1,800
Sector Real Estate Aviation, Infrastructure, Retail Energy Steel Real Estate
ASSOCHAM Research Bureau
ASSOCHAM Research Bureau (ARB) is the research division of Associated Chambers of Commerce and Industry of India. The Research Bureau undertakes studies on various economic issues, policy matters, financial markets, international trade, social development, sector wise performance and monitoring global economy dynamics.
The main banners of the Bureau are: ASSOCHAM Eco Pulse (AEP) studies are based on the data provided by various institutions like Reserve Bank of India, World Bank, IMF, WTO, CSO, Finance Ministry, Commerce Ministry, CMIE etc. ASSOCHAM Business Barometer (ABB) are based on the surveys conducted by the Research Team to take note of the opinion of leading CEOs, MDs, CFOs, economists and experts in various fields. ASSOCHAM Investment Meter (AIM) keeps the track of the investment announcements by Indian industrialists in different sectors and across various states and cities. ASSOCHAM Placement Pattern (APP) is based on the sample data that is tracked on a daily basis for the vacancies posted by companies via job portals and advertisements in the national and regional dailies, journals and newspaper. Data is tracked for 60 cities and 30 sectors that are offering job opportunities in India.
THE KNOWLEDGE CHAMBER Evolution of Value Creator ASSOCHAM initiated its endeavour of value creation for Indian industry in 1920. It has witnessed upswings as well as upheaval of Indian Economy and contributed significantly by playing a catalytic role in shaping up the Trade, Commerce and Industrial environment of the country. ASSOCHAM derives its strength from the following Promoter Chambers: Bombay Chamber of Commerce and Industry, Mumbai; Cochin Chamber of Commerce and Industry, Cochin; Indian Merchant's Chamber, Mumbai; The Madras Chamber of Commerce and Industry, Chennai; PHD Chamber of Commerce and Industry, New Delhi.
VISION Empower Indian enterprise by inculcating knowledge that will be the catalyst of growth in the barrier less technology driven global market and help them upscale, align and emerge as formidable player in respective business segment
MISSION As representative organ of Corporate India, ASSOCHAM articulates the geniune, legitimate needs and interests of its members. Its mission is to impact the policy and legislative environment so as to foster balanced economic industrial and social development. We believe education, health, agriculture and environment to be the critical success factors.
GOALS To ensure that the voice and concerns of ASSOCHAM are taken note of by policy makers and legislators. To be proactive on policy initiatives that are in consonance with our mission. To strengthen the network of relationships of national and international levels/forums. To develop learning organization, sensitive to the development needs and concerns of its members. To broad-base membership. Knowledge sets the pace for growth by exceeding the expectation, and blends the wisdom of the old with the needs of the present.
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