Madhya Pradesh has set up a Rs.100-crore venture capital fund to support young entrepreneurs with innovative ideas and plans to unveil early next month a policy for start-ups as well.
Senior officials, part of a visiting delegation Chief Minister Shivraj Singh Chouhan led to Hyderabad on Wednesday, highlighted this while counting measures initiated by the State for promoting industrial development and improving the ease of doing business. Wooing investors, as part of a road show for the Global Investors’ Summit to be held on October 22 and 23 in Indore, the Chief Minister said Madhya Pradesh offered immense growth opportunities for a range of industries, from automobiles, IT to agro-processing, and for large and MSME enterprises alike.
Besides having in place policies specific to various industries, the State also extended customised packages to investors, he said, adding the focus of his government is on creating more employment opportunities. .
Making a presentation on investment opportunities in Madhya Pradesh, at the programme involving CII (Confederation of Indian Industry), Chief Secretary Anthony JC de Sa said the State government had a industrial land bank of 25,000 hectares, of which 10,000 hectares had been developed, and was power surplus. With the State planning to invest Rs.75,000 crore on urban infrastructure development, there were big opportunities for companies in the field, he pointed out. Of the Rs.6 lakh crore investment proposals received at the Global Investors Summit in 2014, projects worth Rs.3.22 lakh crore had been realised, which is well above the usual realisation of 20 per cent, he replied to a query. Industry Minister Rajendra Shukla said the development achieved by Madhya Pradesh in last ten years is a story of turnaround from being one of the BIMARU (economically weak, backward) States.
