While Maharashtra has attracted the highest number of industrial entrepreneur memoranda (IEMs) over the past 15 years, West Bengal has been most successful in converting IEMs into projects, according to figures provided by the Union ministry of industry and commerce.
Meanwhile, Mizoram has not attracted a single IEM for the period between 1991 and 2004.
An IEM is an indication of the intent of a company to set up an industrial unit in a state.
According to a compilation of IEM statistics by Projects Today, Maharashtra has attracted the 10,666 IEMs in the last 15 years, the most in the country. The investment proposed through these IEMs stood at Rs 2,39,378 crore (Rs 2,393.78 billion). However, only 11.4 per cent (Rs 27,406 crore (Rs 274.06 billion)) of this intended investment actually materialised.
Projects Today has drawn the figures from the secretariat for industrial assistance, ministry of industry and commerce, of the central government.
West Bengal has been the most successful in implementing IEMs, meaning that most number of the IEMs in the state actually materialised into projects.
The state inked 2,968 IEMs between 1991 and 2004 with an intended investment of Rs 50,599 crore (Rs 505.99 billion). Of these 361 projects worth Rs 28,088 crore (Rs 280.88 billion) (55.5 per cent) actually materialised.
Gujarat received 6671 IEMs worth Rs 2,04,810 crore (Rs 2,048.10 billion). Of this 16.7 per cent actually materialised.
The north eastern state of Mizoram is the only state where not a single IEM was filed in the period between 1991 and 2004, while Manipur had two IEMs filed in the period for a sum of Rs 3 crore (Rs 30 million).
However, none of these actually materialised into projects.
On an all India basis, a total of 53,518 IEMs were filed between 1991 and 2004 for projects worth Rs 12,89,116 crore (Rs 12,891.16 billion). Of these, 5,567 projects worth Rs 1,89,430 crore (Rs 1,894.30billion) (14.7 per cent) materialised.
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