Madhya Pradesh received investment intentions totalling over ₹15 lakh crore – with an estimated employment generation capacity of 29 lakh jobs – during the two-day Global Investors Summit (GIS) held on January 11 and 12 in Indore, Chief Minister Shivraj Singh Chouhan said on Thursday.
The Chief Minister made the announcement at a press conference held after the conclusion of the event that was attended by investors and delegates from 84 countries. With investment intentions of ₹6,09,478 crore and an estimated generation of 11 lakh jobs, the renewable energy sector cornered well over a third of the proposals and the projected employment opportunities respectively. Other major sectors that were pledged investments included urban infrastructure, food processing, agro processing, mineral-based industries and IT and allied sectors.
“Friends, this Global Investors Summit is being concluded with full confidence... It’s correctly said that Madhya Pradesh is moving fast on the runway and after this summit, we are ready for take off,” said the Chief Minister at the valedictory session of the event. “It’s raining money in MP,” he added.
This was the sixth such investors’ summit under Mr. Chouhan’s leadership in Madhya Pradesh. A recent report claimed that of the investment proposals worth ₹17 lakh crore received by the government in the past years, only projects worth ₹1,50,000 crore have materialised [this has not been refuted by the M.P. government so far].
Asked about the implementation roadmap for Thursday’s announcements, State Industries Minister Rajvardhan Singh Dattigaon, did not provide a specific timeline but said it would be done as soon as possible.
Mr. Chouhan said that a system for a complete follow-up would be set up to fructify the “intention to invest” proposals. This, he said, would be done through certain exemptions, time-bound approvals and inter-departmental coordination.
“Any owner who has been allotted land in zones identified for MSMEs can straightaway start construction work, instead of making rounds for another round of approvals. Moreover, they will not be subjected to any inspections for the initial period of three years of operations,” he said.
The CM also said that on January 26, a new window would be launched on the government’s investment portal to provide assistance to potential investors.
