PBD & GIS 2023 driving demand for residential & commercial property in Indore
The events provided an ideal setting for networking and exploring the possibility of a range of investment options
The Pravasi Bharatiya Diwas (PBD) and the Global Investors Summit (GIS-2023) organised in the city between the 8th and 12th of January, 2023, showcased the city and Madhya Pradesh as a profitable investment destination in the country. The events provided an ideal setting for networking and exploring the possibility of a range of investment options.
The summits have given an excellent platform to NRIs and people from around the world to connect and discuss the investment potential of the city. Besides, they are opening the way for additional investment in Indore, which would further improve economic growth and employment possibilities, along with the Madhya Pradesh government’s deliberate attempts to position Indore as a hub of numerous sectors. It also gives NRIs and other stakeholders the opportunity to make investments in the city’s thriving real estate.
Malwa-Nimar received the most offers, totalling ₹6.95 lakh crores. Renewable energy had the highest investment and employment potential, with 6.09 lakh crores in intent to invest and renewable energy 11.84 lakhs crores, respectively. The second and third positions were taken up by urban infrastructure (2.80 lakh crores and 4.50 lakhs) and food & agri-processing (1.06 lakh crores and 2.20 lakhs).
Following the summits, the employment prospects in the state look bright. The pharmaceutical and health sector is expected to employ 74,200 people, while textiles and readymade garments will employ 1.13 lakh people. With additional investments planned in IT and electronics, this sector will generate 2.22 lakh jobs. The service sector and pharma & healthcare are the other two segments that will create employment for 1.66 lakhs and 1.42 lakhs.
Indore’s thriving culture and expanding economy make the city a fantastic alternative for investors wishing to profit from a booming market, ample resources, readily available skilled and unskilled manpower, and a growing global reach. Investments in pharmaceutical manufacturing, warehousing, infrastructure development, and housing will significantly increase investment in Indore’s real estate, said Vipul Agrawal, Managing Director of Sunil Agrawal and Associates (SAA) and a real estate expert.
Hon. Chief Minister of Madhya Pradesh, Shivraj Singh Chouhan, firmly stated that these events would present a fantastic opportunity for branding Madhya Pradesh and Indore to attract investment, which spoke volumes about the state and the city of Indore’s potential.
In fact, in his opening remarks at GIS-2023, the Hon. Prime Minister of India Narendra Modi promoted Indore as a centre for business, thereby branding the city among prospective investors. The Managing Director of Sunil Agrawal and Associates, Vipul Agrawal, said that this event also emphasised on the enormous potential in the real estate of Indore.
Real estate in Indore is a great place to invest right now. And stakeholders can make well-informed decisions that could result in significant returns on their investments with the help of careful planning and thorough study. The city’s developing reputation as a hub for start-ups and entrepreneurship is attracting the young and upwardly mobile to prefer living and working here increasingly, he added.
Further, the policies of a progressive state government that prioritise ease of doing business and providing land at low rates to encourage more investments in the city will contribute to attracting big-listed developers like Godrej, making Indore an attractive investment location. The SAA managing director said this would benefit the entire real estate industry, generate employment, and increase the demand for homes.
These events have attracted significant investments in IT, electronics, chemicals & petroleum, the service industry, automobiles, engineering, healthcare, logistics & housing, textiles, readymade garments, and pharmaceuticals. Besides NRIs and global investors, several big players in the IT industry attended the summits. Seeing the surge in investments and job opportunities in Indore, Vipul Agrawal said there would be an upswing in residential and commercial real estate in Indore.
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