Investments Uprise in Madhya Pradesh

The fifth Global Investors Summit (GIS) concluded recently with investment commitments and government sops to please investors.

INDORE: The Shivraj Singh Chouhan led Madhya Pradesh government said it has received investment proposals of over Rs 5.62 lakh crore from various companies and individuals in a wide range of sectors. This is the biggest investment promise yet in any GIS - almost twice that of the Khajuraho 2010 one, which is now pushed to second place.

The government has received 2,630 intentions to invest mostly online, totalling Rs 5,62,847 crore . These proposals are being scrutinized, department-wise, and will soon be uploaded on the government website, said officials.

The top investment proposals in the lot are Rs 25,000 crore by Nuclear Power Corporation of India, Rs 20,000 crore by Aditya Birla Group and Rs 4,760 crore by Indian Oil. Interestingly, the bulk of the big-ticket intentions to investment in GIS 2016 have been made by public sector entities.

At a press meet on the concluding day of the business event, chief minister Shivraj Singh Chouhan said, "The response from industrialists was phenomenal and they were very keen to invest in the state. We had B2B and B2G meetings with several investors while a lot were left out due to time constraint."

Chouhan announced a slew of big ticket reforms, including compensation to investors if there is even a day's delay in giving approvals. "The officer responsible will be penalized and we'll recover the compensation from him," Chouhan said,

Five MoUs worth Rs 20,000 crore in new and renewable energy were signed on the last day of the summit between the state and the central government. Renewable energy has been on top of the investment table in the last few years.