GIS participants expressed intentions to invest Rs 15.42 trn in MP: CM

Industrialists and entrepreneurs expressed intentions to invest a total of Rs 15.42 lakh crore in the state during the two-day Global Investors Summit "Invest Madhya Pradesh" here, Chief Minister Shivraj Singh Chouhan said on Thursday. The two-day event, organized by the MP government, got over here earlier in the day. "Entrepreneurs from different sectors expressed intentions to invest a total of Rs 15,42,550 crore," Chouhan told reporters. Proposals were received for investment in renewable energy, urban infrastructure, agriculture and food processing, mining, Information Technology, services, automobiles, pharmaceuticals, logistics and storage and textile manufacturing among other sectors, he said. Delegates from 84 countries including G20 countries participated in the conference, Chouhan added. More than 2,600 meetings were held in two days with over 5,000 investors, he said. As many as 36 foreign business organizations signed Memorandums of Understanding with the Madhya Pradesh State Industrial Development Corporation (MPIDC), the CM informed. Through the MoUs, business communities of more than 215 countries will be connected to exporters in Madhya Pradesh, he said. Investors setting up 'micro, small and medium enterprises' (MSMEs) in the industrial areas identified by the state government will not need to go through the formalities of getting factory licenses and business licenses among other things, Chouhan said. These factories would not be inspected by any official for a period of three years, he added. The state government will also launch a "plug and play" facility for small investors under which they will be provided ready infrastructure to start their units, he informed.