Will the Indore meet be fruitless?

Top industrialists like Mukesh Ambani, Nusli Wadia, Shashi Ruia, Ratan Tata, Kumar Mangalam Birla, Azim Premji, Narayana Murthy and RS Lodha have been cause for sleepless nights to MP government officials.

The reasons: Chief Minister Shivraj Singh is expecting them at the Indore Investors meet, to be organised on October 26.

Chauhan had recently invited Premji and Mukesh Ambani, in Bangalore. However, an insider in the state department of industry told Business Standard: "All of them are unlikely to come to Indore. However, Mukesh Ambani may attend the meet on October 27."

Ailing Madhya Pradesh State Industrial Development Corporation and Federation of Indian Industry is organising the meet as part of "Destination Madhya Pradesh".

This meeting is the last in its series and has been shifted to Indore from Bhopal on account of "poor infrastructure, poor air-connectivity, low accommodation and bad road conditions" in the capital.

Shashi Ruia's company Essar has planned a mega power project in Madhya Pradesh while Kumarmanglam Birla's Aditya Birla Group is looking at facilities for its proposed Rs 20,000 crore alumina plant in Sidhi district.

"Of the 1,000 invitees, 150 Indian and 45 foreign investors have confirmed participation," the source said.

In January almost all investors from manufacturing, infrastructure, mining and food processing skipped the Khajuraho Investor meet, which also was part of the ongoing "Destination Madhya Pradesh".

As many as 11 old investors signed deals in the power sector in Khajuraho. The recently organised Mumbai road show attracted only one investor in the power sector and none came to join hands with the state government in information technology at the Bangalore road show in August this year.

For the past one year, the department of industry has ignored local issues and focused on the 'Indore Investors Meet'. A mega meet organised in May last year to amend the 'Industrial Promotion Policy 2004' has produced no results.