In order to intensify the pace of industrial investment in Madhya Pradesh, a series of regional industry conclaves have been started at the initiative of Chief Minister Dr. Mohan Yadav. Third in the series, Regional Industry Conclave is being organized at Jabalpur on 20th July. Afterwards, Regional Industry Conclave is proposed to be organized at Gwalior in September and Rewa in October. Moving a step further in this direction, it is proposed to be held in Coimbatore in Tamil Nadu on 25th July, in Bengaluru in Karnataka in August, in Delhi in September and in Indore in September.
Over 1500 prospective investors are participating at Jabalpur. A buyer-seller meet has also been organized as part of the event, in which more than 1000 representatives have sent their consent. Delegations from Britain, Costa Rica, Fiji, Taiwan and Malaysia will also participate.Possibilities in agriculture and defense sectors will be discussed. About 70 projects will be launched and foundation stones laid.
Preparations will start for organizing the Global Investors Summit on 7 and 8 February 2025. Madhya Pradesh’s new export policy will be announced in the Global Investors Summit and the provisions made in the new industrial policy will be shared with upcoming investors.
Positive change in investment scenario
The investment scenario of Madhya Pradesh is fast changing positively. Medical device park is coming up at Ujjain. It is being developed on 360 acres involving a cost of Rs 222.77 crore. Similarly, PM MITRA-PM Mega Integrated Textile Region and Apparel Park is also taking shape in Dhar. Its cost is Rs 1000 crore and it is spread over 1563 acres. Manufacturing Zone for Power and Renewable Energy Equipmentsis also taking shape on 227 acres in Narmadapuram. This will cost Rs 464.65 crore. Apart from this, Mega Leather Footwear Accessories Cluster Development Park is being built on 161 acres in Morenainvolving a cost Rs 222.81 crore.
The state government is making planned efforts to establish the state as Hub of Industries. With the improvement in the manufacturing sector in Madhya Pradesh is offering immense opportunities for exports. Now according to the foreign trade policy, Madhya Pradesh is focussing on exports. The products by small and medium enterprises, farmers and farmer producer organizations, handicraft artists and startups of entrepreneurs are being encouraged. Chief Minister Dr. Yadav has explored the export possibilities from Madhya Pradesh and has prepared an list of products, which are in demand in the foreign market.
District Export Facilitation Cells
On the initiative of Chief Minister Dr. Yadav, export facilitation cells have been set up in all districts. These have created awareness about exports among small and medium scale producers. Madhya Pradesh Trade Organization Council and export facilitation cells have jointly organized a series of programs, which helped the state government assess the investment possibilities.
District export promotion programs were organized in Neemuch, Harda, Ashoknagar, Narsinghpur, Shahdol, Balaghat, Betul and Dhar. Madhya Pradesh is making efforts tocontribute more to India’s merchandise exports. Products like pharmaceutical products, cotton, nuclear reactors, boilers, machine tools, textiles, organic foods, chemicals, aluminium, metals, grains, electrical machinery equipment,equipmes, plastics have found way to global market. Maximum pharmaceutical products were exported. The value of drug products stood atRs 13,158 crore.
Doubling export
A target has been set to double the exports from Madhya Pradesh in the next three years. Indore is the top ranking district, which exported items worth Rs 20,256 crore. Next is Dhar and then comes Raisen and Sehore. Exports worth Rs 10,973 crore were made from Dhar, Rs 7,561 crore from Raisen, Rs 4,045 crore from Sehore.
The state government has allocated adequate budget to promote industries. There is a provision for a customized package for investors wishing to invest Rs 100 crore and above. A single window system is in place to simplify the investment process and approvals. Currently 12 departments have been roped in and 46 services have been offered. To promote industrial investment, the government has made attractive budget provisions for 2024-25. A budget provision of Rs 2000 has been made for the investment promotion scheme. A provision of Rs 490 crore has been made for industrial development and Rs 177 crore for land acquisition, survey and service charges. Similarly, a provision of Rs 699 crore has been made to provide investment promotion facility for promoting micro, small and medium industries. Besides, a provision of Rs 200 crore has been made to encourage these micro, small and medium industries. There is a provision of Rs 125 crore for the operation of Chief Minister UdyamKrantiYojana. All such efforts will give a momentum to development of industries in future.
A good start
The first Regional Industry Conclave started from Ujjain witnessed a host of investment proposals. Agro Oil and Gas Company had announced an investment of Rs 75 thousand crore. JK Cement promised Rs 4000 crore investment, VolvoEicherRs 1500 crore, Asian Paints Rs 2000 crore, HEG Rs 1800 crore, Hindustan Engineer Industries Rs 1500 crore, LNT Mind Tree Rs 800 crore, Pension Group Rs 400 crore and Oriental Paper Millse Rs 980 crore. On completion of these investment proposals worth Rs 1 lakh crore, more than 1 lakh jobs will be created. Similarly, in the recently held Mumbai Industry Conclave, investment worth Rs 75 thousand crore will come to the state ensuring jobs to more than one lakh people.
Godrej Consumer Products proposed an investment of Rs 450 crore, Reliance Anil DhirubhaiAmbani Group Rs 50 thousand crore, Grasim Industry Rs 4000 crore, JSW Limited Rs 17000 crore, Jot Data Service Rs 500 crore and LNT proposed an investment of Rs 2000 crore. In tourism sector, Mahindra Holidays promised to invest Rs 750 crore and Oberoi Hotel Group Rs 400 crore.
Such efforts at the regional level will encourage investors in and around the region. Also, the focus is on developing regions simultaneously. This is a unique initiative by the Chief Minister Dr. Mohan Yadav. These efforts have acccelerated the pace of industrial investment in Madhya Pradesh, which has become the first choice of investors owing to improved connectivity, industry-friendly policies and investment -friendly infrastructure and environment.
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