Madhya Pradesh received investment proposals worth ₹1,550 crore for the proposed Gwalior Telecom Manufacturing Zone (TMZ) at an investor roundtable held in Mumbai on Tuesday, Chief Minister Mohan Yadav said.
Addressing the event, Yadav said the proposed investments would add to the state's efforts to develop Gwalior as a telecom manufacturing hub. He said the state had introduced industry-focused policies over the past two-and-a-half years that had helped attract investments across sectors.
The chief minister said an earlier roundtable held in New Delhi had generated investment proposals worth around ₹3,500 crore, which the state estimates could create about 12,000 jobs.
Investor commitments and incentives
According to the state government, five companies expressed interest in investing in the Gwalior Telecom Manufacturing Zone during the Mumbai event. MV Electrosystems proposed an investment of ₹700 crore with an estimated 1,500 jobs, while Anant Systems proposed ₹400 crore with around 500 jobs.
Sterlite Technologies Ltd proposed investing ₹200 crore, expected to generate about 1,200 jobs. VNT proposed ₹150 crore, while Tescom proposed ₹100 crore with an estimated 400 jobs. Together, the proposals total ₹1,550 crore.
{{/usCountry}}Sterlite Technologies Ltd proposed investing ₹200 crore, expected to generate about 1,200 jobs. VNT proposed ₹150 crore, while Tescom proposed ₹100 crore with an estimated 400 jobs. Together, the proposals total ₹1,550 crore.
{{/usCountry}}The state said the first phase of the telecom manufacturing zone will be developed over 170 acres, with plans to expand by another 400 acres in the second phase. The project is being developed with support from the Union government.
Officials said the zone would offer six specialised testing laboratories and infrastructure for telecom equipment manufacturing.
State outlines support measures
Union Communications Minister Jyotiraditya Scindia said the telecom manufacturing zone would provide a plug-and-play ecosystem for the sector. He said the Centre and the Madhya Pradesh government were working together to develop global-standard manufacturing facilities.
Scindia said companies investing in the zone would be eligible for electricity at a concessional rate of ₹2 per unit for the first five years, wage support of ₹5,000 per worker for large projects and training assistance of ₹13,000 per employee for skill development.
The state government said eligible investors could receive capital subsidies of up to 50% of investment, subject to a ceiling of ₹200 crore. Additional incentives include land on lease at Re 1 per square metre, 100% reimbursement of stamp duty, concessional water charges and export freight assistance.
Additional chief secretary Neeraj Mandloi said the telecom manufacturing zone would support domestic production of telecom equipment and strengthen India's manufacturing ecosystem. He said the state had also developed sector-specific industrial projects, including the PM MITRA park in Dhar district and an electrical equipment park in Narmadapuram.
Yadav invited companies to expand operations in Madhya Pradesh, saying the state offered competitive power tariffs, skilled manpower and policy support for employment-generating industries.