To attract investment the state government organized Destination Madhya Prad3sh Investors Summit in year 2007. A decisi9on was arrived at for joint work of FICCI and M.P. Trade & Investment Facilitation Corporation toward attracting investment in the state. Through traffic at different levels national levels national and international road shows, Investors Summit – 2007 nine sectors were profiled as prospective and feasible. Through industrial sector profiles investment possibilities were evolved and put to practice. An important development was a road show in this context in New Delhi on 4 August 2006. Investors were contacted in Italy from 5-8 November 2006.
Between 9 and 14 December 2006 a delegation beaded by the chief minister contacted industrialists and signed 5 MoUs in Singapore and Kuala Lumpur. At Khajuraho at such a meet 18 MoUs and 9 EoIs were signed during the period January 2007.
Under the leadership of the chief minister during 10 – 20 May a high level delegation organised road shows, interactive meetings, and seminars with prospective investors in London, New York, Los Angeles, St Louis, St Jones and other important cities and they were invited to visit the state. In London a MoU was signed with David Fischel, CEO of a multinational. It'sinfrastructure has started in Indore. Madhya Pradesh Facilitation Centre has started functioning at St Louis. On 8 August 2007, under chief minister'sguidance impressive road shows and interactive session were held in Mumbai. For giving information to South Indian investors an Investors Interactive Summit was held on 30 August 2007.
Industrialists have to spend less in establishing industries in the state which has rich natural resources by way of minerals, forests, coal, marble, diamond mines, and adequate water and electricity supply. Work for industrialists is facilitated in the state owing to industrial peace, cheap land and cheap labour. Skilled personnel is available owing to functioning of many information technology and engineering colleges in the state. In total, 25 – 35% less expenditure is involved in the state compared to other states.
An amount of Rs.15,000 crore is being spent on industrial infrastructure in the state. 25,000 km roads have been built during the last 3 years. In the forthcoming year, 40,000 km roads are scheduled to be built. Industrialists have also been invested in backward areas.
Under the leadership of chief minister Shivraj Singh Chouhan the state'sapex level committee has granted concessional package to 60 industrial units to the tune of Rs. 12,453 crore. Under the Presidentship of chief secretary Rakesh Sahni the Project Clearance & Implementation Board cleared 83 investment proposals in just 14 sittings.
The state owing to its constant efforts received Rs.1,05,000 crore worth investment proposals prior to the Indore Investors Summit. Through this, 133 industrial units will be established. Investment of Rs.1 lakh crore comprise investment proposals: Rs.5000 crore in textile sector; Rs.2000 crore in auto components; Rs.30,000 crore in engineering and mineral sector; Rs.6000 crore in agro processing; Rs.300 crore in pharmaceutical & chemicals; Rs.1,200 crore in the service sector and Rs.50,000 crore in electricity generation. Many projects are in the pipeline. During this period Rs.2,608 crore worth 49 industrial units have commenced production. Likewise, Rs.30,047 crore worth 55 industrial units are in the process of production. In addition, Rs.72,010 crore worth 29 units of industrial groups have expressed intent of interest.
For establishing, India-Oman Refinery in the state a decision was taken way back in the year 1991. But its setting up couldn'ttake place. Present state government has approved tax concessions to it owing to which the proposal could be activated. Costing about Rs.10,700 crore the project sponsors have agreed to invest more than Rs.6,000 crore.
The project in scheduled to go into production by year 2009.
A smelter and electric furnace is being added to the Hindustan Aluminum Company by the Aditya Birla Group at a cost of Rs.17,900 crore. The state government and Hindalco have agreed to this effect. This has been possible owing to the industry-friendly state government and the facilities offered by it. SEZ category priority has been accorded to this industrial project.
Offers are in for investment of Rs.5,000 crore in the state'stextile and industrial units. The central government has approved of a 29-crore SEZ area in Indore for an Apparel Export Promotion Park. In Gwalior on 750 acre land a special Economic Zone and Stone Park covering textile and readymade garments will be established. The central government has approved of infrastructure expansion for Readymade Garments Complex in Indore – the cost of which is Rs. 14.1crore.
Investment implementation in state'sindustrial and other fields has begun. Chief Minister Shivraj Singh Chouhan has during the Indore Global Summit (24-29 October) laid foundation of 11 industries valuing about Rs.2,250 crore. He, in Mandideep Industrial Area laid foundation for 2 industries and inaugurated a modern rice mill of Rs.82 crore value. The inaugurated modern rice mill is set up by New Delhi'sLT Overseas Limited. This deal was finalised at the Khajuraho Meet of 17 January 2007 and 25 acre land allotted to it in record time at Mandideep. With investment of only 32 crore the unit started production on 29 October last year.
State'schief minister laid foundation of Rs.75 crore rolling mill at S.D. Bansal Iron & Steel Mills (P) Ltd. 50 crore worth modernised machinery were added to this unit of 1,0020 metric ton annual capacity. Chief Minister also inaugurated at Mandideep the Bhaskar Industrial Group'sdenim unit.
On 17 January 2007, in Khajuraho was signed an MoU with Ludhiana textile sector'sAbhishek Industries Ltd. Its foundation was laid by chief minister at Budni, Sehore district on 24 October 2007. It has an investment of Rs.927 crore. The unit will give employment to around 3000 local people.
Indo-U.K. joint venture'sProjohn Liberty International Co. is establishing a Rs.1,000-crore worth commercial infrastructure comprising hotel, internet zone and shopping mall – this MoU was signed during chief minister'svisit to England. The company is starting work on 40 acres of land in Indore.
Belgium company'sE.S.U. Hold Enwee MoU was signed in December 2006 by chief minister during his visit to Singapore ad Malaysia. This unit'sRs.80-crore investment project on IT Park on 10 acre of land got clearance in record time.
An investment of about Rs.200 crore is envisaged in export-oriented units – Mission Pharma, Mumbai; Ipka Laboratory, Mumbai; and Symbiotic Pharma whose foundation has been laid. Chief Minister has announced no delay in execution and also periodic review of MoUs signed.
Some of world'sbig industrial groups will come forward to invest as a result of state government'sGlobal Indore Summit – 2007 – where already 1 lakh 20 thousand 541 crore worth 102 industrial agreements have been signed.
In this chain, new industrial developments will get linked in the state in the days to come under the guidance of the chief minister and industry minister'sinitiative.