Andhra Pradesh, Chhattisgarh and Bihar are attracting far more investment than their rankings on NITI Aayog’s Investment Friendliness Index would suggest, according to a YourStory analysis. The comparison uses announced investment data from Projects Today for FY24 to FY26.

Maharashtra leads announced investments at Rs 11.05 lakh crore and ranks second on the index with 53.7 points. Andhra Pradesh is second on investments at Rs 8.95 lakh crore but only eighth on the index. Gujarat, ranked first on the index at 56.6, is fourth on actual investment announcements.

Chhattisgarh entered the top 10 for fresh investments in FY25 while ranking 12th on the index. The state says it received nearly Rs 8 lakh crore in proposals over 18 months and topped the index on regulatory ease and institutional environment.

Bihar sits outside the top 10 on investments and ranks 26th of 17 large states on the index with 41.2 points. The index assessed 28 states and 8 union territories across 84 indicators, using feedback from 1,850 investors.