STOCK MARKET BSE NSE

India Inc Promises Rs 1 Lakh Crore Investment in MP

Published: 10th October 2014 06:00 AM  |   Last Updated: 09th October 2014 10:33 PM   |  A+A-

INDORE: Prime Minister Narendra Modi’s address at the  Madhya Pradesh Global Investors Summit 2014 on Thursday pepped up the gloomy mood of India Inc that it had slipped into during the UPA regime, today it looked upbeat and willing to losen its purse strings.

India Inc cumulatively promised to invest upwards of `1 lakh crore in different sectors in Madhya Pradesh after Prime Minister Modi and Chief Minister Chouhan asked them to take full advantage of the “ease to do business” policies that have been rolled out by the  state government.

While Madhya Pradesh Chief Minister Shivraj Singh Chouhan said “I welcome you to MP not only with a single window system (to facilitate ease of doing business) but with an open heart as well.”

Investment commitment to the tune of `1 lakh crore came from industrial house including Reliance, Essar, Welspun industries and Suzlon Energy.

Reliance Industries Chairman Mukesh Ambani in his address committed to invest `20,000 crore to explore and produce coal bed methane (CBM), he said his company would also roll out the best IT infrastructure in MP by middle of 2015.

His organisation, Mukesh Ambani said was in the midst of a major investment programme which would conclude by 2018.

Anil Ambani, chairman ADAG said  his company would double its investments in MP from ` 30,000 crore now to `60,000 crore by 2020. He said his comapny would concentrate  in sectors including coal, power, steel and telecommunication.

He said Madhya Pradesh’s  development agenda has a human face and added that Chief Minister Chouhan has been able to transform the state in past decade.

Gautam Adani of Adani Wilmar group which  already has huge business interests in Madhya Pradesh in agriculture sector and has invested in steel silos for foodgrain storage said his company will invest `20,000 crore in Madhya Pradesh in the next five years.

Sashi Ruia, Chairman Essar group, also made a commitment to invest `4000 crore  for CBM exploration and production. Essar is already in present MP in sectors including steel, oil retailing and power.

Renewable energy major, Suzlon’s chief Tulsi Tanti is learnt to have committed investments to the tune of `15,000 crore in MP. Welspun group also promised investments to the tune of Rs 5000 crore in the state.

Chairman Tata Sons, Cyrus Mistry in his address said Tatas would partner with the state government to build a mechanic and driver training school in Bhopal, the capital of the state. He said TCS, which is a part of the Tata Group will expand its footprint in MP and provide jobs to 10,000 youth in the infotech sector.

According to state government officials Madhya Pradesh has received investments to the tune of `1,82,323 crore from different industrial houses from the last edition of investors summit.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp