Bhopal: The state has recorded a 10 per cent CAGR (compound annual growth rate of the agriculture industry) over the last one decade and has the presence of 2,800 generic drug manufacturing companies. This is likely to interest business houses of Belarus that has a lot of commonalities with the Indian state.
Speaking at the Belarus - Madhya Pradesh (India) Virtual Meeting & Discussion facilitated by FICCI on Friday, Sanjay Kumar Shukla, Principal Secretary, Department of Industrial Policy and Investment Promotion, underlined the strategic location of Madhya Pradesh and also pointed out at promotional assistance by government that can help Belarus businesses to set up base in the state.
“State government offers good promotional assistance. It is the only state in the country with tax delinked investment promotion policy. MP also offers special financial assistance for large scale apparel units,” Shukla said.
Speaking further, he said Madhya Pradesh Industrial Development Corporation (MPIDC), a single window secretariat of industry department acts as the nodal agency. In order to ensure Ease of Doing Business, 40 services have been identified to be offered in a time bound manner.
Sangeeta Bahadur, Ambassador Extraordinary and Plenipotentiary of the Republic of India to the Republic of Belarus, said Indian businessmen and industry may think of Belarus as a small country (with half the population of Delhi), its geographical position makes it a link between East and West. “Think of it as a central point from which you can further expand your business to other lands,” she said.
Ruslan Strahar, Deputy Chairman, Mogilev Regional Executive Committee, elaborated on Mogilev region and said it shares an open border with Russian Federation and is called the logistics hub of the region.
Sanjay Bhayani, FICCI member and Director India Operations, Avgol, said that FICCI has signed MoUs with Belarus Chamber of Commerce to further strengthen economic ties.