Indore (Pervez Bari): The fifth edition of the Madhya Pradesh Government’s biennial Global Investors Summit, (GIS), received 2,630 Intention To Invest (ITI) with a cumulative value of Rs.5,62,847 crore (8,408.93 USD).
Federal Minister for External Affairs Mrs. Sushma Swaraj said that as a result of constant efforts Madhya Pradesh has become most favourite state for investment. She was addressing the concluding session of the Summit-2016 at Indore, the financial capital of the central Indian state Madhya Pradesh, here on Sunday.
Madhya Pradesh Chief Minister Shivraj Singh Chouhan said around 4 thousand investors of 42 countries took part in this summit. These included senior Ministry officials and Ambassadors from five foreign partner countries – the UAE, South Korea, Japan, the UK and Singapore. Next Global Investors Summit will be held from February 16 and 17, 2019 at Indore, he added.
Chouhan said: “We are very happy at the response of the prospective investors. We are particularly elated at the industry’s reaction to our offer of 1,25,000 acres of land bank. Within 24 hours of us announcing the offer, we have allotted over 30 land parcels to investors through the state’s online window.”
The Key Investment Proposals are as follows:-
• Nuclear Power Corporation to invest Rs.25,000 crore in Mandla plant; • A V Birla Group to invest Rs.20,000 crore across sectors; • Indian Oil to put in Rs.4760 crore of investments; • Essar Group plans new investments of Rs.4,500 crore in gas exploration; • Syntex to invest Rs.2,000 crore; • P & G India to put in Rs.1,100 crore; • Mylan Lab considering investments of Rs.700 crore; • Lupin India to invest Rs.700 crore & Germany’s Hettich to invest Rs.400 crore.
Some other major proposals are as follow:
1. Rs.600 crore by ITC Ltd; 2. Rs.200 crore by Mayur Unicoters; 3. Rs.400 crore by Ajanta Pharma; 4. Rs.780 crore by Vardhman; 5. Rs.965 crore by Sagar Manufacturing; 6. Rs.700 crore by Rusan Pharma; 7. Rs.2500 crore for Chhindwara plus SEZ development & 8. Rs.230 crore by Avgol Ltd.
From the number of investment proposals received, it is evident that the Global Investors Summit successfully promoted the state’s ‘Make in Madhya Pradesh’ initiative under the stewardship of Chief Minister Chouhan. It is also important to note that this initiative complements the national ‘Make in India’ mission under the leadership of Indian Prime Minister Narendra Modi.
The Chief Minister also announced that of the investment proposals received during the 2014 investment summit, projects worth Rs.2,71,000 crore are under various phases of implementation. Some of the projects have even started production. “Our conversion rate for investment proposals (proposals vs. actual investments) is 46 per cent – which is hugely satisfying”, Chouhan added.
While the investment summit witnessed a total of 356 Business-to-Business and Business-to-Government meetings, the three-day business exhibition – featuring more than 60 domestic and international participants at the 60,300 sq. ft. Convention Centre – saw more than 20,000 visitors. The Centre, thus, truly served as a global platform for participating companies to showcase and demonstrate their capabilities in design, engineering, equipment & supplies and support services for large state projects. Importantly the exhibition provided a platform for SMEs to connect globally with potential partners offering new business opportunities.
The Central government was represented by Federal Electronics and Information Technology Minister Ravi Shankar Prasad, Union Minister of Urban Development, Housing and Urban Poverty Alleviation and Information & Broadcasting Venkaiyah Naidu, Federal Minister for Panchayat Raj and Rural Development Narendra Singh Tomar, Federal Minister of External Affairs Mrs. Sushma Swaraj and Federal Finance Minister Arun Jaitley, who was also the Chief Guest of the inaugural session, Federal State Minister for Forest and Environment (Independent charge) Anil Madhav Dave and Federal State Minister for Petroleum (Independent charge) Dharmendra Pradhan.
The event was supported by Department of Industrial Policy & Promotion, MP Trade and Investment Facilitation Corporation (Organiser), Ernst & Young (Knowledge Partner), Confederation of Indian Industries (National Partner) and War Room Strategies, Madhyam (Media Partner) and Public Relation Department.
The investors summit effectively showcased the strengths and industrial prowess of Madhya Pradesh, besides providing a platform for interaction with the state’s policy makers, bureaucrats, industry captains, investors, professionals and academia.
The nine sectors under focus this year included: Agri-business & Food Processing, Automobile & Engineering, Defence, IT/ITeS & ESDM, Renewable Energy, Pharmaceuticals, Textile, Tourism and Urban Development.
Meanwhile, five MoUs, (Memorandum of Understandings), for investment of Rs.20,000 crore were signed in new and renewable energy sector for 2700 MW generation on the second day of Global Investors Summit 2016 in presence of Chief Minister Shivraj Singh Chouhan and federal minister for petroleum and natural gas (Independent charge) Dharmendra Pradhan and energy minister Paras Jain in Indore.
Indian trade increased to 10,000 billion dollar in 2015-16
Indian trade has increased 10,000 billion dollar in the year 2015-16 while the world is struggling with recession. Future of India is bright and the state will be benefited from this also. Madhya Pradesh Minister for Finance and Commercial Taxes Jayant Malaiyya has said this in the session “M.P. Exports Strategy” at the Summit today.
Malaiyya said that land allotment procedure for industry has made online in Madhya Pradesh to avoid delay. A committee is being constituted to enhance export from Madhya Pradesh which will send its report to the union government and immediate action will be taken. To facilitate investors, the 7th international container depot of state will be made at Katni.
Federal minister for urban development Venkaiyah Naidu has said that the central government will provide all possible help to Madhya Pradesh for urban development. He said that Madhya Pradesh did remarkable work in urban infrastructure development. Indore is the excellent example of spontaneous Smart City. Constant efforts are needed to complete infrastructure development works in small urban habitats in the state. He said that Madhya Pradesh has become now main state.
Mission of ‘Make in India’
By investing in Madhya Pradesh, one can get progress for self along with contributing in the state’s progress. Madhya Pradesh Industries Minister Rajendra Shukla said it in ‘Make in India’ session in the Summit-2016. He said that mission of ‘Make in India’ would not be achieved without ease of doing business. He said that infrastructure development is necessary for it. Twenty four hours electricity is being supplied. Dry ports have been developed in the state. All divisional headquarters will be connected with four-lane road in next two years. He said that people have increased confidence in ‘Invest Madhya Pradesh’. (pervezbari@yahoo.co.in)