Ahmedabad gets Rs 71 cr in investments; highest among emerging cities

Ahmedabad has attracted an investment of Rs 71,270 crore since 2000, the highest among the top 10 emerging business destinations identified by global property consultant Cushman and Wakefield (C&W). Ahmedabad, Vishakhapatnam, Kochi, Vadodara, Bhubaneswar, Chandigarh, Coimbatore, Jaipur, Indore and Nagpur are the top 10 emerging business destinations offering a long-term investment potential, C&W said in a report. Vishakhapatnam ranked second with an investment of Rs 58,180 crore, followed by Vadodara which attracted an investment of Rs 24,720 crore. The consultant said these ten cities have attracted a total investment of Rs 1,83,700 crore since 2000. [caption id=“attachment_495452” align=“alignleft” width=“380”]  Reuters[/caption] “Ahmedabad has attracted nearly 39 percent of the total investments announced for these cities since 2010, followed by Vishakhapatnam at 32 percent and Vadodara at 13.5 percent,” C&W said in a statement. The study ‘Top 10 Emerging Business Destination in India’, released by Urban Development Secretary Sudhir Krishna, took into account infrastructure (including physical, social and real estate), economic activities and government support and initiative. In the last two years, the volume of investment by various companies in these 10 cities has increased by over seven times, it added. Ahmedabad saw an investment of about Rs 71,270 crore, bulk of which was in the automobile and auto-components sector, followed by telecom and real estate & infrastructure. Vishakhapatnam, with an investment of Rs 58,180 crore, has seen a growth through metals and metal processing sectors followed by petrochemicals. Vadodara, saw an investment of Rs 24,720 crore, from similar sectors, such as metals and metal processing followed by real estate and engineering sectors. PTI