'Vibrant MP' to woo global Inc | india | Hindustan Times
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'Vibrant MP' to woo global Inc

india Updated: Oct 10, 2010 21:36 IST
Debobrat Ghose

Madhya Pradesh government is hoping to secure investments worth RS2 lakh crore on October 22 and 23, when it hosts the Global Investors Summit-II at Khajuraho.

Corporate bigwigs including Anil Ambani, Kumar Mangalam Birla, Sashi Ruia and Venugopal Dhoot are likely to attend the summit. The government also plans to rope in Union ministers Kamal Nath, Anand Sharma and Subodh Kant Sahay.

"Food & agro processing will be our thrust area in this summit. Our aim is to take our state’s growth from 8.7 per cent to double digits in the next three years," Chief Minister Shivraj Singh Chouhan told HT.

The first global investors summit in 2007, organised on the lines of Vibrant Gujarat in Indore, saw the inking of 102 memoranda of understanding (MoUs) worth R1.2 lakh crore. Anil Ambani alone had signed R50,000 crore worth of MoUs.

"We're expecting investment proposals of around R2 lakh crore this time," said Kailash Vijayvargiya, minister of state for commerce and industry.

However, out of the 333 MoUs (R4.7 lakh crore) signed by the government since 2007, production has begun in 13 projects, while constructions in only 23 cases. Around 68 MoUs have failed to materialise. "We'll ensure faster execution of MoUs this time," Vijayvargiya said.