MP CM signs $100mn deal for IT units

Madhya Pradesh Chief Minister Shivraj Singh Chauhan, seeking investments in the state, had a major success when a group of investors signed an agreement with him to invest $100 million in information technology industry.

The agreement, signed by investor Rajiv Kaul and representatives of two companies yesterday, seeks to establish IT ventures near Bhopal or Indore.

The details are being worked out, and Kaul said they plan to move fast on the project.

Chauhan, at two functions here, made an impassioned appeal to investors to put their money and talent to work in his state, and pledged that he would personally ensure that any impediment in the way of entrepreneurs is removed quickly and effectively.

"You name the areas you are interested in and Madhya Pradesh has the raw material and facilities to make your dream come true," Chauhan said.

Madhya Pradesh is the new destination for those planning to invest in information technology sector and for those looking for cost effective operations, he said, adding amidst cheers, "We may be the last to go in this (IT) sector, but our policies are the latest." (PTI)