New Delhi: Odisha has emerged as the most favourite investment destination for foreign investors as it bagged over 27 per cent share in the total FDI proposed in 2011-12. This was revealed by industry body ASSOCHAM.

ASSOCHAM said the state garnered lion's share worth about Rs 49,527 crore in the total FDI proposed across India.  Attracting FDI proposals worth about Rs 33,936 crore, Andhara Pradesh ranked second with a share of about 19 per cent as about 70 proposals were filed by the foreign investors in the state.

With over 11 per cent share in the total foreign direct investment (FDI) proposed in 2011-12, Gujarat has emerged as the third most favorite investment destination for overseas investors across India. Gujarat got the second highest number of 131 FDI proposals attracting proposed investment worth Rs 20,258 crore, according to a state-wise analysis of the proposed FDI and the number of FDI proposals filed in India during 2011-12 carried out by ASSOCHAM.

Chattisgarh and Karnataka ranked fourth and fifth of the top five investment destinations from the foreign investors' point of view and got FDI proposals worth over Rs 20,000 crore and 14,000 crore respectively. Maharashtra though got the highest number of FDI proposals of 144 but the state ranked sixth with proposed FDI worth over Rs 12,000 crore.

Of the top twenty states, West Bengal ranked 14th only above states like Bihar, Uttarakhand, Jharkhand, Jammu and Kashmir, Assam and Kerala and managed 24 FDI proposals worth a meager Rs 1,243 crore, according to the ASSOCHAM study.