Published On:11 November 2012
Posted by Indian Muslim Observer

MoUs worth Rs.4,31,555 cr. made at Global Investors Summit at Indore; 20 lakh persons to get direct-indirect jobs

By Pervez Bari

Indore: After being eulogised for his leadership qualities by the chieftains of the industrial world and political leaders, the central Indian state of Madhya Pradesh Chief Minister Mr. Shivraj Singh Chouhan had enough reasons to rejoice and relax seeing his untiring efforts bear fruits in the form of bountiful of MoUs raining worth lakhs and thousands of crores of rupees.

About one thousand investment proposals worth Rs.4,31,555 crore in Madhya Pradesh were received during the three-day third Global Investors Summit here at Indore, the financial capital of Madhya Pradesh. The implementation of these proposals will generate direct and indirect jobs for about 20 lakh persons.

Meanwhile, former Deputy Prime Minister and senior leader Lal Krishna Advani, who presided over the valedictory function, said that the credit of taking Madhya Pradesh out of sick states list and its historic development goes to Chief Minister Mr. Shivraj Singh Chouhan.

On the occasion, Chief Minister Mr. Chouhan said that Investors Guarantee Scheme will be launched in the state. All the industry-related sanctions will be made within time-limit. Madhya Pradesh Development Forum will be constituted to avail benefit of investors’ experience and expertise in the state’s development. Its meeting will be held every six months. He announced to hold next Global Investors Summit from October 8 to 10, 2014.

Chouhan announced waiver of tax to investors despite implementation of Goods Service Tax, ( GST), in the State. He said that the GST has raised furore on the ground that the Union Government is making the tax mandatory and therefore VAT and other taxes would fall under its ambit. He said that he had been asked by the investors that while the State Government is promising tax holiday, the situation may change once GST is implemented and they may not be able to avail the tax holiday.

He said in his view GST still has a number of issues and one of the most important issues is how states would be compensated for the loss of revenue due to the GST. He said that he assured the investors that they would be able to avail tax holiday even if GST is implemented.

Meanwhile, impressed by enthusiastic atmosphere of the summit, famous industrial houses of the country also handed over their proposals to the State Government. Well-known industrialist Anil Ambani, chairman of Reliance Anil Dhirubhai Ambani Group, made a proposal to invest Rs.20,000 crore in cement and energy sectors. Chairman of Essel Group Subhash Chandra has come forward to develop a township in Chambal ravines. For this, he has given Rs.35,000 crore proposal to the State Government. Besides, Chairman of Aditya Birla Group Kumar Manglam Birla will also invest Rs.20,000 crore in tourism and education sectors.

Chairman of the Sahara Group, Subrata Roy Sahara appreciated law and order situation in Madhya Pradesh. The Saharashree also announced that his company would construct a dairy in the state which would provide employment to 27,000 to 30,000 people. He also mentioned about his first visit to the state in 1982 and his relation with Madhya Pradesh was 30 years old. He appreciated the Chief Minister Chouhan’s efforts to increase investment and provide development to the state. He further urged other investors to come and make investment here for their benefit. He also announced that a Club worth Rs.600 to 700 crores would be constructed in Indore. He assured that the Club would be of global standard.

Besides these famous companies, other investors have also given investment proposals worth Rs.3,56,555 crore. Possibilities of generation of about 6,35,727 direct and 14,53,314 indirect jobs from these industries have been strengthened. Investors participating in the summit made 100 proposals worth Rs.34,766 crore in agriculture and food processing sector generating possibility of 2,95, 228 jobs. Of this, 66,895 will be direct jobs and 2,28,333 indirect jobs. At the summit, 30 proposals worth Rs.27,491 crore were presented in the cement, mining and mineral sectors. On implementation, these industries will generate 65,108 jobs including 17,956 direct and 47,152 indirect jobs. As many as 58 proposals worth Rs.31,45 crore were received in iron and steel sector, which will generate 86,997 jobs including 30,182 direct and 56,815 indirect jobs.

In power, oil and gas sectors, 22 proposals worth Rs.15,930 crore were made generating possibility of 39,308 jobs including 11,693 direct and 27,615 indirect jobs. As many as 84 investment proposals worth Rs.36,618 crore were received in housing and urban development sector. They will generate 2 lakh 98 thousand 489 jobs. In the road sector, 86 proposals worth Rs.33,544 crore were received through which 2 lakh one thousand 263 jobs will be created including 67 thousand 88 direct and one lakh 34 thousand 175 indirect jobs. Industrialists presented 194 proposals worth Rs.88,405 crore in industrial infrastructure sector generating possibility of 5,41,345 jobs including 1,79115 direct and 3,62,230 indirect jobs. In logistics and warehousing sectors, 112 investment proposals worth Rs.5,016 crore were received. These works will generate 10,032 direct and indirect jobs.

At the summit described as the most successful in the history of Madhya Pradesh, investors also came forward in engineering and automobile sector. As many as 40 proposals worth Rs.23,342 crore were received in this sector, which are likely to generate 54,315 direct and indirect jobs. In the textile and apparel sector, 31 proposals worth Rs.11,852 crore were received which will generate 60 thousand 490 jobs. In pharmaceutical sector, 25 proposals worth Rs.3,742 crore were received. These will generate 13 thousand eight jobs. In the education and skill development sector, 17 proposals worth Rs.6163 crore were received. These will generate 17,850 jobs. Three proposals worth Rs.1,377 crore in tourism sector will generate 5,150 direct-indirect jobs.

As many as 16 proposals have been received in State Government’s priority sector health services. These proposals worth Rs.4,877 crore will generate 20 thousand 575 direct and 29 thousand 439 indirect jobs. In all, 153 proposals worth Rs.20,498 crore were received in renewable energy sector which are likely to generate 60 thousand 282 direct and indirect jobs. Similarly, 46 proposals worth Rs.2,990 crore were received in information technology, electronics and telecom sectors. These will generate 2,74,202 jobs including 69 thousand 123 direct and 200,5,079 indirect jobs.

The salient feature of the three-day Global Investors Summit was that industrialists have made investment proposals for every region of the state. Rs.61,323 crore worth proposals have been received for 184 projects around Bhopal, Rs.36,802 crore worth 48 projects in Gwalior region, Rs.54 thousand 74 crore worth 186 projects in Indore region, Rs.72,919 crore worth 109 projects in Jabalpur region, Rs.32,286 crore worth 87 projects in Rewa region. Rs.31,695 crore worth 62 projects in Sagar region, Rs.20,096 crore worth 104 projects in Ujjain region and 237 projects worth Rs.38,0407 crore have been received in multi-divisions.

Meanwhile, after the conclusion of three-day Global Investors Summit, Chief Minister Mr. Chouhan took a joint meeting of officers and employees of all the departments on Labhganga premises, the venue of the summit. Addressing the meeting, Mr. Chouhan said that after holding this global-level event we can say with confidence that the path of Madhya Pradesh entering list of pioneering states of the country has been paved by facing every challenge.

Chouhan said, "After seeing team work and obsession towards work, I can say that only fortunate persons have such a team. He said that it has become easier for me to fulfil dream to ensure welfare every section of society in the state. It is my dream that all the consumers get uninterrupted electricity, all the fields get water, roads are in good condition, industries are set up in all the villages so that they can get employment in near their houses and all should get health and education facilities smoothly. He said that we will have to keep our lives dedicated to the welfare of the state’s people.

Chief Minister Mr. Chouhan said that on the basis of the team spirit exhibited by all, it can be said that the next Summit at Indore on October 8, 9 and 10 October 2014 will also be successful. He said that the MoUs signed at the Summit concluded today will be implemented at the earliest.

[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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Posted by Indian Muslim Observer on November 11, 2012. Filed under , . You can follow any responses to this entry through the RSS 2.0. Feel free to leave a response

By Indian Muslim Observer on November 11, 2012. Filed under , . Follow any responses to the RSS 2.0. Leave a response

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