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25 June 2012

Chief Minister Shivraj Singh Chouhan invites Samsung to set up unit in Madhya Pradesh

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By Pervez Bari

Bhopal: The Bharatiya Janata Party ruled Madhya Pradesh Chief Minister Mr. Shivraj Singh Chouhan has invited Samsung to set up a manufacturing unit in the state. He said that it would serve the great Indian market.

Chief Minister Chouhan, who is on tour of South Korean capital Seoul, reportedly said that Madhya Pradesh has the strategic location which is ideal for distribution of goods. He explained the progressive industrial policy structure of Madhya Pradesh which provide various incentives and facilitation to the investors, an official spokesman said.

The Chief Minister Mr. Chouhan visited the Samsung Campus on Friday. He was accompanied by Industries Minister Mr. Kailash Vijaywargiya and the business delegation from Madhya Pradesh. The Suwon Complex of the Samsung is located in south of Seoul. It is the house of company’s research & development operations and the Touch of Colour brand.

Responding to the Chief Minister’s invitation the Samsung representatives said that they will be glad to consider Madhya Pradesh as investment destination for the company. They apprised the Chief Minister of the company’s growth and achievements in last 40 years and the range of future products and technologies. Samsung is the largest business houses of Korea with a presence in electronics, infrastructure and construction, engineering and textiles.

Meanwhile, Chief Minister Mr. Chouhan interacted with the Korean media during his visit to Seoul. According to the official spokesman here he answered various questions asked by the media representatives regarding Madhya Pradesh and investment opportunities in the state.

Why should Koreans invest in Madhya Pradesh?

Madhya Pradesh is one of the fastest growing states in India backed by an impressive CAGR of 10.2 percent during 2005-10; Strategic location: Located at the centre of India, within the close proximity of all major markets, ports and tier-one cities across the country; Large latent consumer base: Madhya Pradesh has a population of over 70 million. The state has decadal urbanization growth rate of 26 per cent with bigger cities growing at a rate as high as 40 per cent; Fast tracking and customized packages for large investments; Rich natural resource base: Madhya Pradesh constitutes 6% of the mineral production in the country, by value.

Which sector Korean Companies should look at to invest in Madhya Pradesh?

Electronics, Infrastructure, Textiles and Food Processing – Electronic Park – we are keen to get the large players such as Samsung and LG.

Looking at India’s poor economic situation why Investor should feel confident?

Well, we all are aware of the global economic slowdown today and economies across the globe are impacted by that. India is less impacted as compared to others given strong basic fundamentals and domestic demand. We have to look at a long term and holistic picture. Every economy has its own dynamics and characteristics, hence can’t evaluated through a standard methodology.

In regards to MP, the state has recorded an impressive CAGR of 10.2 per cent during 2005-10. The primary, secondary and tertiary sectors are all growing at a rapid rate. We are focusing on increasing the pace of industrialization and improving the extent of value addition that takes place in the state. MP as an investment destination has immense potential to grow.

Which are the main areas to invest in infrastructure development?

Delhi Mumbai Industrial Corridor, (DMIC), with total Development area – 800 sq. km. (approx) with a development cost US$7 billion. In the first phase 4 nodes have been prioritized, namely:

• Pithampur - Dhar -Mhow (Investment region – 372 sq. km.); • Ratlam - Nagda (investment region - 200 sq.km); • Neemuch- Nayagaon (investment area - 100 sq. km); • Shajapur – Dewas (investment area -100 sq. km); Besides DMIC, we are developing 3 industrial corridors in MP, which are: • Bhopal-Indore investment corridor - Early bird projects worth more than US$80 Million; • Bhopal-Bina investment corridor - Early bird projects worth more than US$1 Billion; • Jabalpur – Katni – Satna – Singrauli investment corridor - Early bird projects worth more than US$2 Billion

How is the power situation in Madhya Pradesh?

The state has adequate power to support rapid industrialization and we have started implementing a rapid capacity addition program as well. As of March 2011, MP’s total installed power generation capacity stood at 8998 MW.

How is labour availability and climate in the state?

Madhya Pradesh has a harmonious industrial work culture and the number of man-days lost is amongst the lowest in India. Distribution of persons (per 1000 in 2009-10) by age-group clearly shows the demographic dividend (63 pr cent of the labour force below 40 years) that the state has to offer; The labour as compared to Korea or even India is much more cost effective, our manpower is known for its hard-work and efficiency

How is the availability of land for industries?

Madhya Pradesh has a land bank for industrial use to the tune of approx 20,000 hectares, which is provided to the industries at subsidized rates.

What are the incentives available to the investors?

• Value Added tax (VAT) refund for up to 10 years – up to 100 per cent of capital investment; • Entry tax exemption – 5 to 7 years; • Land subsidy for Mega projects – 75 per cent (on premium); • Exemption for electricity duty to captive power plants – 5 - 10 years; • Capital subsidy (MSME) – 15 per cent; • Interest subsidy (MSME) – 5 per cent. 

[Pervez Bari is a senior Journalist based at Bhopal, Madhya Pradesh. He is associated with IndianMuslimObserver.com as Bureau Chief (Madhya Pradesh). He can be contacted at pervezbari@eth.net]

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