Corporates commit over ₹80,000 crore investments in Madhya Pradesh

AM Jigeesh Indore | Updated on October 09, 2014 Published on October 09, 2014

Luring investments :Prime Minister Narendra Modi at the Global Investors Summit in Indore on Thursday. Madhya Pradesh Chief Minister Shivraj Singh Chouhan, Tata Group Chairman Cyrus Mistry, Reliance Group Chairman Mukesh Ambani and State Chief Secretary Anthony DeSa are also seen. - AM FARUQUI

Much of it to flow into coal, energy, retail sectors

With the Madhya Pradesh Government offering the keys to a land bank of 26,000 hectares along with 24X7 power and water, corporates promised investments worth over ₹80,000 crore in the State at the inaugural function of the Madhya Pradesh Global Investors Summit here on Thursday.

The Anil Dhirubhai Ambani Group (ADAG), which has invested about ₹30,000 crore in the State in the past few years, offered ₹30,000 crore more by 2020 in sectors such as power and coal. Mukesh Ambani-led Reliance Industries Ltd pledged ₹20,000 crore in the energy and retail business. Adani Group Chairman Gautam Adani said his company would invest ₹20,000 crore within the next five years.

Kishore Biyani’s Future Group promised investments worth ₹2,000 crore in agri-based business, while the Essar Group offered to invest ₹4,000 crore in various sectors. The Welspun Group will invest ₹5,000 crore in renewable energy in the State, and Symbiosis said it would invest ₹200 crore in educational infrastructure in Madhya Pradesh.

Cyrus Mistry, Chairman, Tata Sons said TCS was expanding activities in a new integrated campus at Indore, which would provide employment to 10,000 IT professionals.

“The Tata group is going to establish a world class driver and mechanic training centre in Bhopal in public-private partnership. The group is going to invest in the State in tourism, urban transport, and agriculture and pulse production,” he added.

RIL Chairman Mukesh Ambani said Madhya Pradesh had the potential to do much more.

“We are going to invest ₹20,000 crore in the coming years in energy, retail business, entrepreneurship development and digital infrastructure sector. The people of Madhya Pradesh are going to have a world class digital infrastructure in the coming 18 months,” he added.

Essar Group Chairman Shashi Ruia too announced substantial investments.

“We are already in the power sector and I can say that Madhya Pradesh is a place where you can plan the investment and implement it. We are going to get additional ₹4,000 crore investment in the State,” he added.

Published on October 09, 2014
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