Madhya Pradesh Global Investors Summit Ends; Chief Minister Says State Has Infrastructure For All Industries
Madhya Pradesh is committed to implement the spirit of ease of doing business
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The seventh edition of “Invest Madhya Pradesh—Global Investors Summit” concluded on Jan. 12 in Indore. The two-day flagship event of the Madhya Pradesh government to promote investment in “the heart of India” culminated with a ceremony spearheaded by Madhya Pradesh Chief Minister Shivraj Singh Chouhan and attended by delegates, industrialists, and government officials.
The summit was virtually inaugurated on Jan. 11 by Prime Minister Narendra Modi, who called Madhya Pradesh a wonderful destination for investment, adding that the state will have a pivotal role in building a developed India. The inaugural session was attended by industry veterans such as Kumar Mangalam Birla, Nadir Godrej, Pranav Adani, Noel Tata, Puneet Dalmia, Ajay Piramal, Rekha Menon, and N. Chandrasekaran.
During his one-to-one discussion with industrialists and investors on the second day of the summit, Chouhan said that Madhya Pradesh has developed policies according to the needs of industries of all sectors. Team Madhya Pradesh is committed to implement the spirit of ease of doing business, he added.
Consulate generals of various countries, representatives of industry and trade organisations and persons from industrial groups met the chief minister at the summit and conveyed their interests in investing in the state.
In his address during the closing session of the summit, Chouhan said that investment proposals have been received to set up industries worth more than Rs 15,42,500 crore.
Chouhan informed that proposals have been received for an investment of Rs 6,09,478 crore in the renewable energy sector, Rs 2,80,753 crore in urban infrastructure, Rs 1,06,149 crore in food processing and agriculture sector, Rs 98,305 crore in mining and related industries, Rs 78,778 crore in IT sector, Rs 76,769 crore in chemical and petroleum industry, Rs 71,351 crore in various services sector, Rs 42,254 crore in automobile and electric vehicle sector, Rs 17,991 crore in pharmaceutical and health sector, Rs 17,916 crore in logistics and warehousing sector, Rs 16,914 crore in textile and garment sector, and Rs 1,25,853 crore in other sectors. All these are expected to provide employment to 29 lakh people.
Several renowned industrialists announced investments in the state on the sidelines of the summit. Adani Agro Oil and Gas Managing Director Pranav Adani met the chief minister and promised an investment totalling Rs 60,000 crore in sectors such as minerals, energy, agriculture, and coal.
Reliance Industries Executive Director Nikhil Meswani promised to provide 5G facility in all tehsils by December 2023. “Reliance Group is keen to make a big investment in the solar energy sector. We are also willing to invest in setting-up complete textile processing units in the state,” Meswani said.
ITC Group Chairman Sanjeev Puri said it is targeting an increase in farmer produce companies (FPOs) operated by ITC in the state from 300 to 1000, with an investment of Rs 1500 crore. A number of other industrialists showed keen interest in investments in the state, including the Aditya Birla Group, JSW Group, Avada, and Tata Group.
While Hong Kong’s Epic Group said it will invest Rs 400 crore on a vertical fabric and garment unit near Bhopal, Israeli companies found the state suitable for agriculture and skill upgradation. A delegation from Norway was keen on long-term investment in wind and solar power in the Chhindwara district of the state.
In the post-event press conference, Chouhan hailed the summit a resounding success, saying it was attended by representatives of 84 countries, including G20 nations, and international delegates from 35 nations. Around 2600 meetings took place during the event, in which more than 5000 investors and businesses across different sectors took part, he added.
The chief minister announced that 36 memorandums of understanding (MOUs) were signed between foreign trade councils and chambers and the MP Industrial Development Corporation (MPIDC), which is the Single Window Secretariat for Investment Promotion and Facilitation in the state. These organisations included India Africa Trade Council, Latin-American Caribbean Federation of India, India ASEAN Trade Council, Singapore Indian Chamber of Commerce and Industry, Indo-Canadian Business Chamber, among others.
Through these MOUs, Madhya Pradesh will be able to connect with foreign trade organisations of over 215 nations, Chouhan said. This will greatly benefit the state’s exporters in various sectors, including agriculture and food processing, pharma, start-ups, small and medium businesses, education and skill development, engineering, and others, he added.
During the summit, 20 sector-specific sessions were organised with industry leaders and senior government officials, along with one-to-one meetings with the chief minister and other senior officials.
On Jan. 12, sectoral sessions were held on Access Madhya Pradesh—Complete Business Solution, Education and Skill Development, Social Infrastructure Financing, International Business Opportunities, Aerospace and Defence, and Fostering Exports from MP, among others. The sessions witnessed participation from central and state government officials, promoters and top leadership of various export oriented organisations. Prominent personalities from multilateral organisations, international NGOs, foundations, and prominent CSR wings of top companies also took part in the discussions.
On Jan. 11, areas such as agriculture, food and dairy processing; opportunities in natural gas and petro-chemical sector; pharmaceuticals, medical devices and healthcare; renewable energy; tourism; urban infrastructure and mobility; and automobile and auto components were addressed during the sessions.
The two-day summit was held at the Brilliant Convention Centre in Indore, recognised as the country’s cleanest city and the commercial capital of the state. The theme of the summit was “Madhya Pradesh - The Future Ready State”.