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HindustanTimes Sat,20 Sep 2014

Countdown to FDI Meet: MP offers 30k acres of land to investors

HT Correspondent, Hindustan Times  Indore, October 04, 2012
First Published: 15:21 IST(4/10/2012) | Last Updated: 15:22 IST(4/10/2012)

At a time when land has become the main stumbling block for industrialisation in the country, Madhya Pradesh has 30,000 acres of clear land in its land bank, ready to be offered to investors in the Global Investors Meet to be held in Indore in October-end.

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Madhya Pradesh Audhyogik Kendra Vikas Nigam managing director Manish Singh said that the state government has created a total of 60,000 acres in the land bank and of that 30,000 acres is clear -- can be acquired without any fear of litigation.

In any case, to ensure that there is no dispute over land acquisition, the new thrust is on land-pooling, under which the land-owner is being made a partner in the project for which the land is being acquired. "That way there is no opposition to the project, and this system is being followed by the Indore Development Authority and the Bhopal Development Authority," Singh said.

The officials are expecting 700 delegates for the investors meet in Indore and top industrialists of the country including Anil Ambani, Eicher Motors managing director and CEO Siddharth Lal are expected to attend the meet.

This year the focus would be on Information Technology, textiles, pharmaceuticals, automobile and engineering, but other investors would also be welcomed. So far as Indore is concerned, it is already a automobile, pharmaceutical and textile hub and a lot of investors have evinced interest in investing in these sector, AKVN officials said.

While refusing to specify the amount of land that would be needed for the forthcoming investors meet, Singh said that different industries have different requirements. For example, the IT industry requires much lesser land to generate the same number of jobs when compared to other industries.

Meanwhile, the work of branding of the investor meet and beautification of the city is going on in full swing.


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