Madhya Pradesh gets investments of Rs. 15,42,550 cr in Global Investors Summit, 2023

Indore: Madhya Pradesh got total investments of Rs. 15,42,550 crores during the recently concluded Global Investors Summit, 2023. Over 2,600 meetings took place in two days, where more than 5,000 business entities/ investors/ entrepreneurs joined. Stakeholders from agriculture, textile, automobile, plastic and other sectors took part in the sessions. Among the total meetings, more than 1,150 meetings were B2G. 23 foreign investors signed 36 MoUs with MPIDC.

Delegates of 84 countries took part in the two-day summit, held on January 11-12, 2023. G20 countries also were part of them. 10 countries were partner countries. Consulates general/ ambassadors of 35 countries were part of the summit. Representatives of Norway, Kingdom of Netherlands, Israel, United Arab Emirates, Canada, Thailand, Mauritius, France, Jamaica, Ghana and Singapore, Indian Chamber of Commerce of Slovakia, and delegation of Indian Export Organization were part of it.

Meanwhile, Chief Minister Shivraj Singh Chouhan also assured that the state government is also ready to make arrangements in policies accordingly if there is possibility of more investment and more employment in the state. The CM participated in the first session of one-to-one discussion with industrialists and investors.

The Executive Chairman of Epic Group, a leading group in the garment sector established in Hong Kong, Ranjan Mehta and Vice President Anu Arora, with an investment unit with an investment of Rs 400 crore on 35 acres of land near Bhopal. The unit will generate employment opportunities for about 10,000 persons. Epic Group supplies garments to multinational companies like Levis, Amazon, Walmart, Nautica etc.

Israel's Consul General Kobbi Shohasani and Trade Commissioner Istav Elmalak said that Israeli companies have invested in India in energy, telecommunications, real estate and water technology. Israeli companies are interested in conducting various activities in the field of agriculture in Madhya Pradesh and investing in them. Also, willing to invest in skill development, smart city development and infrastructure development.

Investors across the globe, reportedly, have promised to invest around Rs. 1 lakh crore in the state during the first day of the Global Investors Summit, 2023. Adani Agro Oil and Gas managing director Pranav Adani, who met the chief minister on the sidelines of the summit, promised to invest Rs. 60,000 crores 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. Whereas, IPCO Chairman Dilip Shanghvi and Chennai's NDR Group's Adikeshallu Reddy confirmed to open Agro parks in Guna, Ujjain, Ashta, and Betul. There will be a market, parking, big godown and other facilities. Both the groups together want to invest more than one thousand crores on these parks. Land has also been purchased for this.

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 Rs. 1500 crore, Puri said.

JN Cooper, MD, Heidelberg Cement India Limited also met CM Chouhan and said that his company is already working in the state and they want to expand the cement factory in Itarsi. Cooper discussed with the chief minister about the investment of Rs. 300 crores. Cooper said that with the investment, his company will also provide employment to more than a thousand people.

Harish Ahuja of M/s Shahi Exports made a proposal regarding the establishment of a readymade garment unit with an investment of Rs 200 crore on 25 acres of land near Indore. Netlink Strategic Solution Pvt Ltd, in collaboration with Flash Scientific Technology of America, is interested in building a cyber city near Bhopal with an investment of 200 crores. Anurag Srivastava from Netlink said that he wants to invest Rs. 25 crores in startup promotion. He discussed about implementing a pilot project of technology in the state to save from the loss of lightning.

On the other hand, Tata International Chairman Noel Tata said that Tata Group is looking to expand its activities in Madhya Pradesh. 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," he said.

Pankaj Ostwal of Krishna Foschem Limited discussed the action plan for setting up 7 units of fertilizers and agricultural chemicals with an investment of Rs. 5,100 crore on 200 hectares of land in Jhabua. Sanjay Kumar of Texmo Pipes and Products Limited informed about the project of ethanol plant on 18 acres of land at Pithampur at a cost of 130 crores. Parmendra Garg of Abu Dhabi's E-20 Investment Limited made a proposal regarding strawberry, blueberry cultivation, their processing and distribution at the global level and requested to allot geographically suitable land.

Representatives of Rake Bank Data Center, DNR Corporation Pvt Ltd, Tasks India Pvt Ltd, Laudus Foundation, SV Agri, East West Seeds, Solidaridad also met Chief Minister Shri Chouhan and discussed the possibilities of industry and business expansion.

Whereas, 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 Godrej will expand its manufacturing unit at Malanpur.

During the summit, Accenture India Chairperson Rekha Menon also described Madhya Pradesh's IT policy as useful and favorable for the IT industry.

After the inaugural address and the discussions were over, chief minister Shivraj Singh Chouhan had met selected industrialists over lunch, almost with more than 30 industrialists. The GIS took place in Indore, the cleanest city of the country and the commercial capital of Madhya Pradesh, on January 11 to 12, 2023 at the Brilliant Convention Center in Indore.

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