(This story originally appeared in on Jan 02, 2016)

PUNE: Maharashtra has toppled Gujarat as the most-sought after destination for global and domestic investors. The home state of Prime Minister Narendra Modi registered the least growth of just over 2% in investment among the top 21 states across India in the past five years, revealed a report of the Associated Chambers of Commerce and Industry of India (Assocham) published recently.According to the report, Maharashtra, Gujarat and Odisha have emerged as the most lucrative investment destinations. They together account for over one-fourth (26.6%) of the total outstanding investments worth over Rs 154 lakh crore attracted by various sectors from both public and private sources across 21 states as of December 2014, which grew from Rs 105 lakh crore as of December 2009.“With a share of about 10%, Maharashtra has ranked first attracting investments worth over Rs 15 lakh crore as of December 2014, closely followed by Gujarat (9.2% share). Odisha (7.5%), Karnataka (6.8%) and Tamil Nadu (6.5%) are the other states with a significant share in this regard,” states the report titled ‘A Comparative Analysis of Investment Pattern in States’, compiled by the Assocham Economic Research Bureau (AERB).Maharashtra tops in the real estate investment (21.2% of total) too. A senior industry source said on the condition of anonymity, “The value of Maharashtra’s real estate definitely ups its value in terms of total outstanding investment. But going by the number of automobile manufacturing companies, considered as hard-core manufacturing, which have chosen to set up business in Gujarat in the last few years, proves that it still has what it takes for inviting industrial investment. To be truly regarded as industry-friendly, Maharashtra still needs to work on aspects like ensuring round-the-clock power supplyand providing a stable political environment.” Anant Sardeshmukh, director general of Mahratta Chamber of Commerce, Industry and Agriculture, said, “With current government working on easing issues related to land availability and acquisition, the industrial scene has definitely picked up.”Secretary general of Assocham D S Rawat said, “Investment is the key driver of productivity and sustainability that leads to development and growth making most state governments to strive to better the investment climate prevailing in their respective states to make them conducive to attract domestic and foreign investors.”