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09 October 2012

Madhya Pradesh to be venue of next Indo-US Business Meet

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By Pervez Bari

Bhopal: Madhya Pradesh Chief Minister Shivraj Singh Chouhan, who is currently on a visit to the United States of America, has said that Madhya Pradesh has speedily emerged as investment destination. Automobile engineering, pharmaceutical, IT-enabled services, tourism, food processing, textile and renewable energy sectors offer immense investment opportunities.

Mr. Chouhan was addressing a business conference organized by United States-India Business Council and Confederation of Indian Industries at Washington DC on October 2, 2012, an official spokesman said.

The US-IBC aims at promoting and strengthening trade and commerce relations between Indian and US trading community. The Chief Minister reportedly offered invitation to the members of US-IBC and trade representatives for Global Inventors’ Summit 2012 to be held at Indore on October 28-30, 2012.

The Chief Minister referred to the friendly relationship between Indo-American trading communities. The USA is the biggest source of foreign direct investment for India as it shares six percent of India’s total foreign direct investment, he said.

Talking about the investment friendly climate and infrastructure in Madhya Pradesh, Mr. Chouhan said that the state has been well equipped with road connectivity, water resources, power availability and technically skilled manpower that are most urgently required in industries.

Senior Director and Policy Analyst and Acting Executive Vice President of US-India Business Council Ms. Diane Farrell in her concluding remark observed that such a pro-active approach will further foster trade relationship and opportunities. It was agreed that Madhya Pradesh will be the venue of forthcoming Indo-Business Trade Meet. Place and time will be decided later.

Discussions with International Finance Corporation

Prior to attending US-Indo Business Council conference, the Chief Minister Mr. Chouhan met the senior officials of International Finance Corporation (IFC). Mr. Chouhan said that sectors like renewable energy, infrastructure building, health, urban infrastructure building and public-private partnership need financial assistance along with technical guidance and consultancy also. He observed that technical guidance coupled with investment assistance can help accomplish projects timely without escalating costs.

The IFC officials were positive about the initial proposals of Madhya Pradesh. Discussions on investment assistance for water resources, health and road infrastructure were held, the spokesman added.

Ms. Anita George Regional Industry Director, Infrastructure and Natural Resources, South Asia and Chief Investment Officer Public Private Partnership Department Mr. Vipul Bhagat and country programme coordinator World Bank Jill Armstrong were present. 

[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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