Chief Minister Kamal Nath inaugurates Magnificent MP Investors’ Summit along with prominent industrialists including N Srinivasan, Adi Godrej, Dilip Shanghavi, Chandrajeet Banerjee and Vikram Kirloskar. MP Assembly Speaker NP Prajapati is also present.
Chief Minister Kamal Nath inaugurates Magnificent MP Investors’ Summit along with prominent industrialists including N Srinivasan, Adi Godrej, Dilip Shanghavi, Chandrajeet Banerjee and Vikram Kirloskar. MP Assembly Speaker NP Prajapati is also present.

Indore: Overwhelmed with tremendous response from industries in first edition of Magnificent Madhya Pradesh (MMP), Chief Minister Kamal Nath on Friday said, “We will turn the state from ‘emerging tiger economy’ to ‘tiger economy’ of the country in next two years.”

He declared, “Any company can start working without any permission provided it has the land. They will have to offer 70% jobs to state’s youths.”

He was addressing a crowded press conference at the end of MMP Investor Meet at Brilliant Convention Centre on Friday evening.  The CM avoided divulging quantum and numbers of investment proposals received in a day and said, “I do not believe in numbers and signing MoUs for investment.”  

He further said, “Our objective was to create the trust atmosphere that is investor and investment-friendly. We have achieved it in 10 months of power. We brought change in the attitude of governance, which is optical.”

Start migration of IT professionals to State

Expressing government’s resolve, Nath declared, “We want reverse migration of state-born IT professionals working in Bengaluru or any other city of the country or abroad to MP. Around 100 such professionals working abroad for the last 30 to 40 years are already coming back,”

No single window, directly  start work, no need of NOC

Announcing complete overhaul of industrial policy of the state, CM Nath said that if a company has land in MP, then it can directly start working. It will not require any permission or No Objection Certificate (NoC) from any department.

Three years after starting the work, the government will check compliance of rules. Government will act only if any wrong is detected. Criticising single window policy of the previous government, Nath said “There was single window in the front but there were 10 other windows at the back that never opened.”

INVESTMENTS

Reliance to double outlets, set up national distribution centre

Chairman of Reliance Industries Limited and India’s richest man Mukesh Ambani on Friday announced that Reliance will double up the number of stores and outlets in the state and will also establish a national distribution centre covering 100 million square feet of space in 45 locations.

His message was webcast during the inaugural function in which he said MP is not only country’s heart but also in the country’s heart. Reliance has invested over Rs 20,000 crore in the state during the last few years and has emerged as the second largest employer after state government. “We have developed coal bed methane plants and build the first and only gas pipeline that connects it with national gas grid. This has opened up multiple investment opportunities,” Ambani added.

Speaking about Jio, he said that it has become the greatest catalyst for transforming MP into a digital society. MP alone consumes more data than South Korea, the UK, France, Germany or Canada. He said that Madhya Pradesh is a natural choice for logistic hub as it connects half of the country.

“We will also explore investment opportunities in the renewable energy sector to promote sustainable development and the green economy,” Ambani said adding, “The company has over 600 stores and 100 petroleum retail outlets in the state. We will have more than double of these numbers in coming years. The new commerce initiatives of Reliance Retail will benefit tens of thousands of kirana stores and small merchants.”

Sun Pharma to expand its facilities in Dewas, Malanpur

Founder of Sun Pharmaceuticals Dilip Shanghvi announced to expand manufacturing facilities in Dewas and Malanpur. In his address at the inaugural function, he said company didn’t have a manufacturing unit in the state but after acquiring Ranbaxy, there are two units in Dewas and Malanpur.

“We have invested close to Rs 500 crore in the state so far,” he added.Shanghvi said  pharmaceutical sector is well positioned in the state as it has good infrastructure and industrial-friendly policies.

“Power is most important component in our sector and if we can use renewable energy as a part of our energy cost, then it will be more efficient. I believe that as chief minister has overcome other issues, he will focus on this as well,” he remarked.

We have Rs 500 cr investments in pipeline: Jarrault

Managing Director of Lapp India, Mark Jarrault, said that the company has been working in various sectors and has presence in the state.

“We also have Rs 500 crore projects in pipeline and will soon expand our units here,” he said. Jarrault also talked about the reason for his investment in the state.

“Along with good connectivity with other state and international airport, it also has stable water and power supply, high quality education institutes and ease of doing business. We look forward to strengthen our relationship in the state,” he added.

ITC to establish food processing plant in state

Chairman and Managing Director of ITC Sanjiv Puri announced setting up a new food processing unit for Rs 700 crore in the state. “With the encouragement by the chief minister and our earlier endeavours, we will establish the facility soon. Land is with us. Design work is going on and the facility will be started,” he said. 

Puri also informed that along with producing all the famous brands, including ‘Ashirwad’ and ‘Bingo,’ the new facility would de-hydrate locally sourced vegetables and sent it across the country.

“ITC sources a large quantity of wheat from Madhya Pradesh, which produces among the finest qualities of the crop, such as ‘Sarbati.’ We are also working on enhancing the farmers’ realisation and will focus on strengthening the agriculture value chain and irrigation storage facilities. ITC also aims to encourage horticulture in the state,” he added.

Puri said that ITC has special relationship with MP and he will enhance the same in coming days.

India Cement to establish 2.5 million tonne cement plant and 1 million tonne grinding plant

Addressing the investors’ summit, MD of India Cements Limited N Srinivasan said that as the part of initial investment, they will establish a 2.5 million tonne cement plant and a 1 million tonne grinding plant soon.

“Along with establishing these plants, we also intend to expand them. In next 3-4 years, we will have cement plant and headquarters in the state,” he said.

The MD also added that he has not seen such dynamic leadership (Kamal Nath’s) in last 5 decades as he understand the issues quickly and take decisions immediately.

“I have only one issue here; I am unable to keep up with the state government’s pace in giving approvals and permission. I am under pressure to work and operate plants at the earliest,” he said in a lighter vein.

Srinivasan also said that MP has not lived up to its potentials given that it has all the natural wealth and facilities here. He appealed to other investors that he has come to MP and they too should follow him.

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