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Madhya Pradesh sets out to attract investment

A Madhya Pradesh delegation led by its chief minister and industries minister is touring major cities in India to attract investment into the state.

, ET Bureau|
Updated: Jul 13, 2012, 02.47 PM IST

PUNE: A Madhya Pradesh delegation led by its chief minister and industries minister is touring major cities in India to attract investment into the state. Abundant in land and expecting to be self sufficient in power soon, the state is looking to attract companies in auto, IT, tourism, food processing and education.

The tour started at Pune with the MP chief minister Shivraj Singh Chouhan and industries minister Kailash Vijayvargiya meeting heads of companies in Pune, including Bharat Forge, Kirloskar Brothers, John Deere, Suzlon, Symbiosis, among others. ""We have brought in several investor-friendly policies and created single window secretariat, MPTRIFAC, for smooth facilitation of investment in the state,"" Mr Chouhan said.

""We provide round the clock power to industries. Madhya Pradesh has a peaceful work culture and the numbers of man-days lost are amongst the lowest in India. Two state-owned power plants and 11 private power plants are underway in Madhya Pradesh, and we will become power sufficient by 2014,"" he added.

After Pune, the delegation will visit Mumbai, Delhi, Hyderabad and Bangalore. Earlier, it had been to Japan, Taiwan and South Korea to invite companies to Madhya Pradesh. The state will host a Global Investors Summit in Indore during 28-30 October this year to present the opportunities in the state. Volvo, Mahindra, Force Motors, MAN, Bridgestone, etc are some of the manufacturing companies currently operating at Pithampur. TCS and Infosys are the IT companies soon setting up operations in the state, the chief minister said, expecting other companies to follow.

""We have a state-owned land bank of 20000 hectares, that can be available to investors at among the cheapest rate in the country. While we provide tax exemptions under various policies, companies willing to set up mega projects can make us a proposal with their expectations. A dedicated committee chaired by me will look into such proposals,"" Mr Chouhan said. Projects worth Rs 84,000 crore were commissioned in Madhya Pradesh last financial year, up from 28000 in its preceding year. Currently, projects worth Rs 1,40,000 crore are under various stages prior to being commissioned, he said.

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