Prime Minister Narendra Modi would not attend the Indore Global Investors' Summit, an invitation for which was extended to him by Madhya Pradesh chief minister Shivraj Singh Chouhan on September 4.
The three-day event, scheduled to begin on October 8, would now be inaugurated by Union minister for micro, small and medium enterprises Kalraj Mishra, the MP government announced on Wednesday.
Chouhan, in a bid to use Modi's presence as an encouragement for investors, had flown to the national capital to invite the PM.
The summit is being organised to attract investment to Madhya Pradesh and would focus on sectors such as automobile, textile, horticulture, tourism, etc.
Several top industrialists including Mukesh Ambani, Anil Ambani and Cyrus Mistry have already consented to participate in the event.