Defying slowdown, Punjab has clocked 41.66% growth in investment flow during October-December 2008 compared to the same period last year while Haryana and Himachal Pradesh have fallen behind and registered negative growth during the period.

According to a study released to FE, ?Assocham Invesment Meter, October-December 2007-08 and 2008-09: Shifting Investment Destinations?, Haryana showed a negative growth of -86.87% during this period. The investment flow to Haryana, as per the study, was just Rs 1,1 67 crore, down from last year?s Rs 8,891 crore.

Significantly, Himachal Pradesh, which boasts of special concessions to industry, has also shown negative growth at -84% during the same period.

The Assocham study points out that the dark clouds of economic slowdown, credit crunch and declining demand have thwarted investment plans of corporate India as announcements plunged by 75% in the third quarter of 2008-09, compared to the same period in the previous year. The report is based on the data tracked from investments announcements planned by various companies.

Out of 21 states, only four registered positive growth rate in terms of investments planned by corporate India during the third quarter of 2008-09 vis-a-vis the same period in the previous fiscal. The states are Rajasthan (with 245%), Bihar (100%), Punjab (41.6%) and UP (26.8%).

The remaining 17 states witnessed negative growth in investment announcements during the period. Interestingly, the one-time ?Bimaru? states of Rajasthan, Bihar and Uttar Pradesh are getting attention from corporate India, which are keen to utilise the untapped resources in the region.

Rajasthan has successfully lured the investors to the region with Rs 11,102 crore worth of projects announced in the third quarter of the current fiscal, compared to Rs 3,210 crore in the same period of the previous fiscal.

Significantly, Punjab also joined league of the states registering positive growth (41.6%) in investment announcements with Rs 1,027 crore in October-December 2008-09, compared to Rs 725 crore in same period of previous fiscal.