75,000 crore investment promised on first day of MP investors’ summit

Published on Jan 11, 2023 07:13 PM IST

Godrej Industries managing director Nadir Godrej expressed his desire to invest in the real estate sector in view of increasing urbanisation in Madhya Pradesh and spoke about the plan to set up the agrochemical industry.

Madhya Pradesh chief minister Shivraj Singh Chouhan at the Global Investors’ Summit in Indore (Twitter/@ChouhanShivraj)
Madhya Pradesh chief minister Shivraj Singh Chouhan at the Global Investors’ Summit in Indore (Twitter/@ChouhanShivraj)

Indore will become the hub of the Information Technology industry in Madhya Pradesh, said chief minister Shivraj Singh Chouhan on Wednesday at the Global Investors’ Summit, after interacting with industrialists, who promised to invest 75,000 crore in the state.

“The next destination of IT in the country will be Indore. Cleanliness and a better working environment were established as a brand by us. Easy procedures for industry and investment, helpful and encouraging behaviour, better connectivity along with adequate infrastructure make the state suitable for investment in all sectors,” he said.

Adani Agro Oil and Gas managing director Pranav Adani, who met the chief minister on the sidelines of the summit promised to invest 60,000 crore in various fields, including minerals, energy, agriculture, renewable energy and coal in the state. He also assured of giving employment to locals by imparting skill training.

Also Read: ‘Mark a location on map, get land within a day’: Madhya Pradesh CM to investors

ITC Group chairman Sanjeev Puri, who held a conversation with the chief minister said that Madhya Pradesh is more active than other states in the field of inviting investment. “The 300 FPOs (farmer produce companies) are being operated by ITC in the state. The target is to expand them to 1000 FPOs with an investment of 1500 crore,” Puri said.

Tata International chairman Noel Tata said that Tata Group is looking to expand its activities in Madhya Pradesh. Godrej Industries managing director Nadir Godrej expressed his desire to invest in the real estate sector in view of increasing urbanisation in Madhya Pradesh and spoke about the plan to set up the agrochemical industry. He said the Godrej will expand its manufacturing unit at Malanpur.

Reliance Industries executive director Nikhil R. Meswani promised to make the 5G facility available in the entire state till the tehsil level by the end of this year. “Reliance Group is keen to make a big investment in the solar energy sector. For this, a necessary survey and study are going on in the Chambal region. We are also willing to invest in setting-up complete textile processing units in the state,” said Meswani.

Puneet Dalmia of Dalmia Bharat Group announced the setting up of a cement plant and taking up tree plantation on the wasteland to make Madhya Pradesh carbon neutral.

Also Read: ‘Unprecedented confidence’ in India: PM at Global Investors Summit in Indore

Accenture Group chairperson Rekha Menon appreciated the IT policy and said, “This policy is very useful and friendly for the IT industry. Indore has a suitable working environment.”

The Madhya Pradesh government has decided not to sign any memorandum of understanding (MoU) with the companies showing interest in investment at the summit as many of the proposals don’t fructify. “The agreement can be signed when actual investment comes,” an official said.

Meanwhile, local businessmen staged a protest at the venue after they were allegedly not allowed to enter the convention centre during the inaugural ceremony.

“In a meeting held last week, as many as 47 businessmen and industrialists registered themselves by paying 2000. We were informed that they will organize a buyer-seller meeting at the summit but we were not allowed to enter the convention centre. When we contacted the officers, they didn’t respond. They told us they will return the money. It was an insult to local industrialists and businessmen,” Malwa Chamber of Commerce head Varun Porwal said.

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