Chinese firms coming to Madhya Pradesh to get special incentives
Chief minister Shivraj Singh Chouhan has launched a drive to woo Chinese companies to invest in Madhya Pradesh, saying they will be given exclusive access to four new industrial townships and zones to set up factories and manufacturing units.world Updated: Jun 20, 2016 21:34 IST
Chief minister Shivraj Singh Chouhan launched a drive on Monday to woo Chinese companies to invest in Madhya Pradesh, saying they will be given exclusive access to four new industrial townships and zones to set up factories and manufacturing units.
He said his government is ready to give “out of way” incentives to Chinese firms willing to invest in specific sectors such as infrastructure, food processing and mining.
The four identified locations are Pithampura, Vikram Udyogpuri, Damot and Sitapur. The four sites include one on the Delhi-Mumbai industrial corridor.
With ambitious infrastructure building goals for the next four years, Chouhan said he will also approach the China-led Asian Infrastructure Investment Bank (AIIB) for assistance in related projects.
“If there are specific industries (Chinese companies are interested in), we can discuss and even decide on out-of-the-way incentives. Incentives like tax relief are already there but we can give customised packages for specific industries,” Chouhan told Beijing-based Indian journalists after delivering the keynote address at a business forum.
Chouhan is here with a delegation of ministers, officials and business leaders from his state to scouting for investments. He is visiting at the invitation of the Communist Party of China.
During his meeting with AIIB president Jin Liqun, Chouhan is expected to pitch for assistance for a project to provide drinking water to 13,000 villages in his state.
Chouhan said more than Rs 75,000 crore has been earmarked for building infrastructure in the state, adding companies from China are welcome to be part of this drive. Chinese companies could also invest in food processing, textiles and mining.
“We will introduce metro rail projects in our towns soon. Though it will be done through the process of tenders, Chinese companies could take part in it,” he said.
Chouhan assured representatives of more than 150 Chinese companies who attended the business forum that acquiring land in Madhya Pradesh will not be problem. “Companies have apprehensions (about land acquisition). In Madhya Pradesh, we can even allot land online. We have a land bank that belongs to the government,” he said.
He last visited China in 2011. “The main difference (between then and) now is that Chinese companies seem to be eager to invest in India. The atmosphere has changed,” he said.