Investors at the inaugural function of the two-day Global Investors Summit here on Monday gave a thumbs-up to the Madhya Pradesh (MP) government’s investor-friendly policies and fast-track decision making.
Anil Ambani, chairman of Reliance ADAG, said MP, would soon become the power capital of India, thanks to the development of power projects by the private sector and state undertakings.
The MP government, which provides 24x7 power to industries, hopes to become power surplus by 2013.
Ambani praised Chief Minister Shivraj Singh Chouhan for “courage, conviction and caring”, which helped the state achieve high growth rate and investments.
He announced that generation at Sasan ultra mega power project’s first unit of 660 MW capacity would begin shortly, and it would be supplied at Rs 1.19 a unit for 25 years to the state.
Shashi Ruia, chairman, Essar Group, hailed the state government’s pro-active role in the promotion of investments. “Madhya Pradesh is a state where better facilities are provided to the investors.” He announced that his company’s 1,200-MW power project in the state would become operational shortly.
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Adi Godrej, president of CII and chairman of Godrej Industries, said that MP has warmed the cockles of investors’ hearts thanks to the hassle-free business environment and strong leadership.
Baba Kalyani, chairman of Bharat Forge, said the state would become an automotive hub, although major investments are taking place in other places like Gurgaon, Noida, Pune and Chennai. “Madhya Pradesh is one of the best governed states. The bureaucracy is transparent and supportive, while the chief minister is proactive,” he added.
Abhay Firodia, chairman of Force Motors, said that MP can be a role model in infrastructure development for other states. “This apart, industrial development can also be expedited through good governance, investor-friendly environment and planned infrastructure development.” He gave full credit to the chief minister for the round-the-clock power supply to industries.
Shantanu Khosla, CEO, Procter & Gamble (P&G), said his company, which has a 23-year association with MP, would expand its business as the government is “efficient, effective and transparent”.
According to Kishore Biyani, founder & Group CEO of Future Group, his company chose the state because of its massive potential in agri- and food processing.
Sushma Swaraj, Opposition leader in the Lok Sabha, also praised Chouhan for his relentless efforts to achieve high growth. She suggested that a special ministry for religious tourism be set up to promote tourists inflow and increase the state’s revenues.
In his response, Chouhan said that the state continues to climb the ladder of growth during trying economic times. He stated that the government would not compromise on transparency. The government would soon put in place a mechanism to avoid any delays or red tape in giving clearances for investments, he added.
“The government has adopted an all-inclusive model for social development so that benefits of government policies reach the remotest corner of the state,” said Chouhan.