MP nets investment proposals over Rs 5,60,000 crore
5th Global Investors Meet is a great success: Shivraj Singh Chouhan
Key Investment Proposals
- Nuclear Power Corporation to invest Rs 25,000 crore in Mandla plant
- A V Birla Group to invest Rs 20,000 crore across sectors
- Indian Oil to put in Rs 4760 crore of investments
- Essar Group plans new investments of Rs 4,500 crore in gas exploration
- Syntex to invest Rs 2,000 crore
- P&G India to put in Rs 1,100 crore
- Mylan Lab considering investments of Rs 700 crore
- Lupin India to invest Rs 700 crore
- Germany's Hettich to invest Rs 400 crore
INDORE, October 23, 2016: The fifth edition of the Madhya Pradesh government's biennial Global Investors Meet received 2,630 Intention To Invest (ITI) with a cumulative value of Rs 5,62,847 crore.
Chief Minister Shivraj Singh Chouhan said, "We are very happy at the response of the prospective investors. We are particularly elated at the industry's reaction to our offer of 1,25,000 acres of land bank. Within 24 hours of us announcing the offer, we have allotted over 30 land parcels to investors through the state's online window."
From the number of investment proposals received, it is evident that the Investors Meet successfully promoted the state's 'Make in Madhya Pradesh' initiative under the stewardship of Chief Minister Mr Chouhan. It is also important to note that this initiative complements the national 'Make in India' mission under the leadership of Prime Minister Narendra Modi.
The Chief Minister also announced that of the investment proposals received during the 2014 investment summit, projects worth Rs 2,71,000 crore are under various phases of implementation. Some of the projects have even started production. "Our conversion rate for investment proposals (proposals vs actual investments) is 46 per cent – which is hugely satisfying", Mr Chouhan added.
The event saw more than 5,000 delegates. Of them, 300 delegates came from across the globe, representing 42 countries. These included senior Ministry officials and Ambassadors from five foreign partner countries – the UAE, South Korea, Japan, the UK, and Singapore.
While the investment summit witnessed a total of 356 Business-to-Business and Business-to-Government meetings, the three-day business exhibition – featuring more than 60 domestic and international participants at the 60,300 sq.ft Convention Centre – saw more than 20,000 visitors. The Centre, thus, truly served as a global platform for participating companies to showcase and demonstrate their capabilities in design, engineering, equipment & supplies, and support services for large state projects. Importantly, the exhibition provided a platform for SMEs to connect globally with potential partners offering new business opportunities.
India Inc. was represented by Kumar Mangalam Birla, Chairman, Aditya Birla Group, Dileep Sanghvi, Chairman, Sun Pharma, G. P. Hinduja, Co-Chairman, Hinduja Group, Shashi Ruia, Chairman, Essar Group, Anil Ambani, Chairman, Reliance ADAG, Arun Bharatram, Chairman, SRF, Baba Ramdev, Founder, Patanjali Ayurved, Al Rajwani, CEO, P&G India, Sanjeev Puri, CEO, ITC, Naushad Forbes, Co-chairman, Forbes Marshall, and Rajinder Gupta Chairman, Trident Group.
The Central government was represented by Union Electronics and Information Technology Minister Ravi Shankar Prasad, Union Minister of Urban Development, Housing and Urban Poverty Alleviation and Information & Broadcasting Venkaiah Naidu, Union Minister of External Affairs Sushma Swaraj and Union Finance Minister Arun Jaitley, who was also the Chief Guest of the inaugural session.
The event was supported by Department of Industrial Policy & Promotion, MP Trade and Investment Facilitation Corporation (Organiser), Ernst & Young (Knowledge Partner), Confederation of Indian Industries (National Partner), and War Room Strategies and Madhyam (Media Partner).
The investors summit effectively showcased the strengths and industrial prowess of Madhya Pradesh, besides providing a platform for interaction with the state's policy makers, bureaucrats, industry captains, investors, professionals and academia.
The nine sectors under focus this year included: Agribusiness & Food Processing, Automobile & Engineering, Defence, IT/ITeS & ESDM, Renewable Energy, Pharmaceuticals, Textile, Tourism, and Urban Development.