The Kamal Nath government in Madhya Pradesh is rolling out the red carpet to industrialists especially to those interested in food processing, logistics, AI and nano-technology as it hosts a mega investment summit here on Friday.
While Reliance Industries chairman Mukesh Ambani will announce a logistics park at the day-long summit on Friday, which will be attended by over 900 representatives from various industries.
Other industrialists expected to be present at the Magnificent Madhya Pradesh summit include Kumar Mangalam Birla, Adi Godrej, Sanjeev Puri of ITC, Dilip Sanghvi, and Vikram Kirloskar among others.
This is the first investment summit being organised by the Congress government after coming to power last December since then the state has received investment proposals worth Rs 1.05 lakh crore, chief secretary SR Mohanty said Thursday.
“We have got firm investment commitment worth Rs 1.05 lakh crore after the Nath government came to power last December. These investments are expected to create 2.10 lakh jobs,” Mohanty told reporters.
Of this, industrial units with total investment of Rs 31,500 crore are already underway, he said, adding the state is expecting investments worth Rs 74,260 crore by March from 223 proposals.
When asked about how many investment pacts are expected to be signed at the summit, the chief secretary said, the chief minister has instructed that the industry department will not sign any investment pacts with prospective investors at the summit but will only discuss proposals.
This was because, Mohanty explained, the previous summit held by the BJP government three years ago had attracted about Rs 5 lakh crore investment proposals but only Rs 1.20 lakh crore of investments were materialised-which is just under one-fourth of the commitment.
But he was quick to add that he expects logistics and warehousing space to draw the maximum interest at the summit.
Principal secretary for industry Rajesh Rajora joined said that “MP has been known for auto, pharma and textiles but now we want to move beyond these and are focusing on agri- processing, metals & minerals, logistics, data centres, artificial intelligence, nana-technology, bio-technology, electronics and design manufacturing.”
Mohanty also said the summit will also focus on tourism, pharma, renewable energy, urban development, and IT apart from those mentioned above.
Rajora said due to the locational advantage, the state is looking to develop a logistic hub and Reliance will be announcing a major investment in this area on the opening day of the summit, which is being organised in partnership with the industry lobby CII.
During the summit, Nath will have one-to-one meetings with the top industrialists.
On Monday, the state had announced a smart industrial park with an investment of Rs 375 crore at the nearby Pithampur industrial belt. The park, expects Rs 10,000 crore investments, was formally launched by the chief minister on Thursday.