Expression of Interest of over Rs 15.42 lakh crore received in GIS in MP

By Pervez Bari

Indore,14 Jan 2023: – The central Indian state of Madhya Pradesh received Expression of Interest (EoI) worth more than Rs.15.42, 500 lakh crores during the two-day Global Investor Summit (GIS-2023) that concluded here on Thursday.

Madhya Pradesh Chief Minister Shivraj Singh Chouhan overwhelmed with the response announced that if these EoIs materialise into investment then it would create 29 lakh jobs in the state. During the concluding ceremony, the CM also made three major announcements for new industrial units as part of state’s ease of doing policy.

During the ceremony, the CM shared details of discussions with business leaders and meetings with delegations. He also shared the seven-point-strategy of the government to assist industries in the state. He said that implementation of the EoIs would add a glorious chapter in the progress of the state.

Chief Minister Chouhan said that the investors would not have to travel to Bhopal to seek solution of problems faced by them. For redressal of complaints, a separate window of ‘How Can I Help You’ will be launched on portal from January 26, 2023.


Three major announcements for new units


1.   Play & Play Policy: Like IT and ITES, this scheme would be for small investors of textile sectors and start-ups; 2. Deemed permission: The new units coming up in the notified government and private sector industrial areas and parks would no longer require the No Objection Certificate (NOC) or clearances from different agencies or departments. Owners would not have to rush to Bhopal for permission & 3. No inspection of unit up to 3 years: Offering a major relief from inspectors, the CM announced that there would be no inspection of new units for the first three years. They would be allowed to do business without tension.


EoIs received sector wise


Sector  & EOIs in Rs: Renewable Energy  —  Rs.06,09,478 lakh crore; Urban Infrastructure  —Rs.02,80,753 lakh crore; Food Professing & Agriculture — Rs.01,06149 lakh crore; Mining & allied units — Rs.98305 crore; IT & ITEs – Rs.78778 crore; Chemical & Petroleum  — Rs.76769 crore; Miscellaneous services — Rs.71,351 crore; Automobile & EV – Rs.42254 crore; Pharma & Health care – Rs.17991 crore; Logistics & Warehousing – Rs.17,916 crore; Textile & garments – Rs.16914 crore and Miscellaneous sectors – Rs.01,25,853 lakh crore.


MP was once a BIMARU state but not now


Meanwhile, Madhya Pradesh “Once a BIMARU state, but over the years through relentless hard work, has now emerged as a safe investment destination of the country. Earlier, industrialists may have considered other greener pastures, but are now expanding their businesses here. The city has the potential to become the innovation hub of the IT sector,” these views emerged from the discussion of Union ministers, leaders, envoys and consul-general and foreign dignities at the closing ceremony of the GIS-2023 here.


Union agriculture and farmers’ welfare minister, Narendra Singh Tomar, said, “Indore, the holy abode of Mata Ahilya, has a glorious history… and today, it is known all over the world for its potential and bright prospects. The way the city and the state handled two prestigious events back-to-back was exemplary.” Tomar said, “Till some time back, industrialists would be making a beeline for other states, but of late, the investment environment has been so cordial that MP stands tall among the traditional states which were the frontrunners for the investors.”

Union Minister for social justice and empowerment, Virendra Kumar Khatik, said, “The state has immense potential for investment today.

Union minister of state for rural development and steel, Faggan Singh Kulaste, said, “Under the vision of PM Modi and the leadership of CM Chouhan, the state is raging ahead. There are several possibilities of investments here. Investors from across the world have come here and shared their ideas, experiences and made valued recommendations.”

Jennifer Dobne, Canada’s commerce minister said, “CM Chouhan has created a business-friendly environment.” Some Canadian companies are already working here and she ensured that more investments will be made in future. “Import-export will increase between India and Canada,” she added.

Speaking of her Indian origin, Faizela, Mauritius’s Social Integration Minister said her grandparents came to Mauritius from Surat in the 19th century. “India and Mauritius share deep emotional ties. Around 70% of Mauritius’s residents are of Indian origin. Under the leadership of PM Narendra Modi and CM Chouhan, the partnership between the two countries in economic and other sectors will increase in the coming years,” Faizela added.

Holmes Jacob, ambassador of Norway in India, said, “Being the cleanest city in India, there is a desire to roam the streets of Indore. The state’s growth index is in a hyper active mode. Norway is a small country, but two companies from the country are operating out of the state. Norway has world class technology. We will work with Madhya Pradesh especially in the renewable energy and technology sector.”

Indore can become innovation hub of IT


Praveen Kankaria, MD, Impetus, said, “Both vision and delivery are being considered for investment in Madhya Pradesh. The cooperation, faith and enthusiasm that the Madhya Pradesh government provides is not to be seen anywhere else. CM Chouhan had resolved to increase the IT sector in the state to the maximum and it is being fulfilled. I live in the Silicon Valley of India, Bengaluru, but I can say with a thrust that most of the innovations in the field of IT are happening in Indore.”


Kamal Bali, from Eicher Volvo Industries, said, “India is a shining star in the world economy. The demography, democracy, leadership, start-up ecosystem, amazing talent, digital transformation, ease of doing business are all the talk of the corporate world.

Sunil Chordia, chairman of Rajratan Global wires Group, said, “In the last 20 years, industrial progress has taken place at a massive pace in the state due to better roads, electricity coverage, government policies, encouragement and cooperation and the Global Investment Summit was a major hit.”

Amit Singh, group head of Asian Paints, said, “MP’s speed in decision-making is the best in the country. On December 5, 2022, I met CM Chouhan and made a proposal and today (on January 12, 2023), it has been approved. Madhya Pradesh’s policy is inclusive growth and sustainable growth.”


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