 "Mohan Yadav")
Madhya Pradesh Chief Minister Mohan Yadav said that the state will strive to double its contribution to the country's Gross Domestic Product (GDP) on the back of favourable policies and all-round development.
Addressing the concluding session of the two-day Regional Investor Conclave, which for the first time was being held outside its traditional destination of Indore in the holy city of Ujjain, Yadav said that the state's agriculture growth has been a robust over 20 per cent and now it is time for manufacturing and industry to pick up pace.
As per 2020-21 data, Madhya Pradesh’s contribution to India’s GDP at constant prices was at around 4 per cent.
CM Yadav said the regional investor summit is just the beginning and industries and companies should be prepared to put their money from land to sky.
He said doing business while at the same time factoring in the benefit of the common man should be the mantra.
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The summit saw investment promises of almost Rs 1 trillion to be executed over the next few years, of which the largest was the Rs 75,000 crore investments from the Adani Group.
Following up on the promises made on Friday, Chief Minister Mohan Yadav said that PepsiCo India has also promised an investment of Rs 1,250 crore in Vikram Udyog Puri in Ujjain, while L&T Mindtree has signed an MoU with the state government to invest Rs 500 crore to create almost 10,000 jobs in the state.
The company has been allocated a 10-acre land in the state.
Yadav said that his government is committed to creating a conducive ecosystem for business growth while ensuring socio-economic development for all sections of society.
On Friday, Director of Adani Enterprises, Pranav Adani, said that the planned investments of Rs 75,000 crore in Madhya Pradesh will generate 15,000 direct and indirect investment opportunities.
“Of this, Rs 5,000 crore will be utilised to build the Mahakaal Expressway from Ujjain to Bhopal, through Indore. Another Rs 5,000 crore to set up a 4-million-tonnes-per-annum clinker unit in Chorgadi and two cement grinding units, in Dewas and Bhopal, with a combined capacity of 8-million-tonnes-per-annum,” Adani had said.
He said in the natural resources sector, investments over Rs 4,000 crore – and another Rs 600 crore to expand presence in food processing, logistics and agri-logistics, and defence manufacturing.
Pranav Adani also said that the Group’s biggest investment will be in enhancing the state’s access to plentiful, reliable and affordable power through its project in Mahan.
Earlier, addressing the concluding session, Union Minister of State for Law Arjun Ram Meghwal said that the Central government under the leadership of Prime Minister Narendra Modi is committed to easing of all such laws and acts that constrain the growth of industries.
He said the Central governments have started special commercial courts, tweaked the arbitration laws and also given legal backing to mediation to help smooth functioning of businesses and reduce their compliance burden.
Meanwhile, describing the summit as a big success, Madhya Pradesh’s MSME secretary P Narhari said that all the policies for industrial development in the state are not cast in stone and can be tweaked based on consultation with the stakeholders.
The two-day Regional Industry Conclave in Ujjain saw participation from almost 3,200 industrialists and foreign delegates from 12 countries.
Around 1,200 B2B meetings were held. The prominent participants included Pranav Adani, Managing Director of Adani Agro, Oil and Gas and Director of Adani Enterprises; Dr Raghavpat Singhania, Managing Director of JK Cement Ltd, Vipul Mathur of the Welspun Corp and Vinod Agrawal, Managing Director and CEO of VE Commercial Vehicles.
The Chief Minister also issued land allotment letters for 508 hectares of land for 283 industrial groups in the state, which together will attract an investment of over Rs 12,000 crore and create new jobs for more than 26,000 people.
Chief Minister Mohan Yadav also inaugurated 61 units remotely, which will create more than 17,000 new jobs in the state. These units have been set up with an investment of Rs 10,064 crore.
