Madhya Pradesh: Increase in investment and employment opportunities day by day
Bhopal : The state government has made significant changes in infrastructure including the policy to promote industries in Madhya Pradesh in the last one year. Magnificent Madhya Pradesh-2019 has been successful in increasing the confidence of investors in the state. Now the scenario of industrial investment has started changing in the state. Investors are moving ahead with confidence to invest in the state.
Policy based decision
To take advantage of the facilities provided in the Industry Promotion Policy-2014, it has been made mandatory to provide 70 percent of the total employment provided by the industries to the permanent residents of the state. With the implementation of the GST system, the process in relation to continuous tax assistance payable to large-scale industries in the Industry Promotion Policy 2014 has been restructured. The new government has implemented a land pulling policy for the acquisition of private land for industrial purposes with mutual consent.
The state government has decided to share 15 percent by way of equity contribution to connect Jawaharlal Nehru Port Mumbai to Indore by railway. In this, the rail project from Indore to Manmad will be implemented. This project will facilitate transportation of goods produced in the state. Decision has been taken to provide green and cheap energy to the industrial units through solar photovoltaic power plant at the rooftop in their premises. In its first phase, schemes are being implemented in Mandideep and Pithampur Industrial Area. According to the suggestions received from investors and industrial organizations, decision has been taken to provide additional facilities to the units by making new amendments / provisions in the Industry Promotion Policy-2014.
Special Infrastructure Development
For continuous water supply to the industries established in Pithampur, 90 MLD water supply scheme of Rs 290 crores has been implemented with which water supply to industries has been started. Smart Integrated Industrial Park has been developed in Pithampur in 465 acre area with Rs 300 crore in which land is being allocated to industries. Four textile garment parks are being set up at Budhibaralai Indore, Acharapura Bhopal, Lehgadua Chhindwara and Jaora Ratlam at a cost of Rs 169 crore 50 lakhs to encourage employment oriented industries in the state.
Magnificent Madhya Pradesh
Magnificent Madhya Pradesh-2019 was organized on 18 October 2019 in the state’s industrial centre, Indore city. The aim was to bring confidence in the minds of major industrialists and industrial stakeholders of the country by bringing them on one platform. At the event, Chief Minister Shri Kamal Nath interacted directly with industrialists, key stakeholders, policy makers and industry experts from across the country. On the occasion, eight thematic sessions were also organized to encourage investment, demonstrating the possibilities available in Madhya Pradesh.
Land allocation to industries
The state government has allocated about 243 acres of land to 248 units in the industrial areas of the state. It is expected to generate capital investment of Rs 3793 crore 20 lakh and employment opportunities for about eight thousand people. In large industrial projects, 57 new and expanded large scale units have been established. In this, more than Rs 6187 crores have been invested and more than 13 thousand persons have got employment.
Investment proposal of Rs 30 thousand 186 crore received
Expressing confidence in the state government, investors have presented 407 proposals for investment of nearly Rs 30 thousand 187 crore in the manufacturing sector under the departmental single window system. In these proposals, the possibility of 59 thousand 247 persons getting employment has been shown. This includes 10 major investment proposals of Rs 9911 crore capital investment, of which 6380 persons are expected to get employment. In three meetings of the Cabinet Committee on Investment Promotion, a total of Rs 9189 crore 90 lakh capital investment and 13 investment proposals for employment to 9529 persons have been approved.
Under the facilities provided in the Industry Promotion Policy, the state government has provided financial assistance of Rs 466 crore 50 lakh in 213 cases.