Inviting both domestic and foreign companies to invest in Madhya Pradesh, Chief Minister Shivraj Singh Chouhan stated that his state was one of the fastest growing states in India.
Addressing a press conference on 'Invest Madhya Pradesh', a Global Investors Summit (GIS) being organized in Indore from October 8 to 10, Chouhan said, "Its Gross State Domestic Product (GSDP) grew at a compound annual growth rate of 17 percent during the financial year 2005 to 2014."
The Confederation of Indian Industry (CII) is the national partner to the event.
Highlighting some of the other advantages of investing in Madhya Pradesh, Chouhan said, "The state had an investor friendly industrial policy, single window clearance of projects, abundant availability of land, availability of skilled manpower, 24x7 power supply a peaceful industrial climate and rule of law among others."
He also highlighted that he had made the development of infrastructure as a priority during his tenure as the Chief Minister. As a result, Madhya Pradesh has now got abundant power supply and is now exporting power to neighbouring states. The state was now focusing on interlinking rivers to improve water availability.
It was in this backdrop that the Madhya Pradesh government was conducting the Global Investors Summit.
More From This Section
The Chief Minister stated that in the 2012 edition of the Summit, MoUs worth over 2, 00,000 crores were signed. Of this, over 1,15, 000 crores of investment was now actually on the ground.
"Following the 2012 Summit, leading MNCs such as John Deere, Cummins, P and G and Unilever among others had all set up manufacturing facilities in Madhya Pradesh. Leading Indian companies such as TCS, Infosys, Godrej and Dabur among others had also invested in the state," said Chouhan.
Mohammed Suleman, the Principal Secretary of Department of Commerce, Industry and Employment, Government of Madhya Pradesh, said that in addition to being one the fastest growing states in India, the state also had a strong fiscal position, healthy growth in tax revenues and a robust agricultural growth.
He observed that the state was well on its way to becoming the food bowl of India.
Suleman said the state was well endowed with natural resources such as diamonds, copper, manganese and dolomite and coal.
"The state government's thrust was to shift the economy of the state from being agri-based to industry based," said Suleman.
He was of the view that the forthcoming GIS would help make this a reality.
"The state government's efforts to develop the infrastructure in the state ensure a peaceful industrial climate as well as improve the ease of doing business in the state," said Suleman.
"Madhya Pradesh had set up a Cabinet Committee on Economic Affairs which was empowered to facilitate inter-ministerial coordination," he added.
Speaking about the conference, Suleman said, "The three-day event will aim to showcase the strengths and industrial prowess of Madhya Pradesh and provide a global platform for interaction with Indian Industry leaders, policy makers, investors and other stakeholders."
The focus sectors of the Summit were agri-business and food processing, automobiles and engineering, healthcare, infrastructure, IT and ITeS, pharmaceuticals, technical education and skill development, renewable energy, textiles, tourism and urban development among others.
The first day of the Summit would feature special session on MSMEs.
The other speakers at the Conference included Yashodhara Raje Scindia, Minister of Commerce, Industry and Employment, and CII Director General Chandrajit Banerjee.
