Investors commit Rs 1 trillion plus funds to Madhya Pradesh

The first two-day Regional Industry Conclave held at Ujjain in Madhya Pradesh from 1-2 March 2024 gave an unprecedented impetus to the state’s investment generation drive. RICU 2024 witnessed the participation of more than 4,000 leading business houses from across the world and witnessed Investors committing over Rs 1 trillion plus funds to long term growth in Madhya Pradesh.

Addressing the successful edition of the Regional Investor Conclave, which for the first time was being held outside its traditional destination of Indore in the holy city of Ujjain, on back of favourable policies and allround development, Madhya Pradesh Chief Minister Mohan Yadav said that the state will strive to double its contribution to the country's Gross Domestic Product (GDP).

CM Yadav said the regional investor summit is just the beginning. He said doing business while at the same time factoring for the benefit of the common man should be the mantra.the summit saw investment promises of almost Rs 1 trillion to be executed over the next few years, of which the largest was the Rs 75,000 crore investments from the Adani Group. Pepsico India has also promised an investment of Rs 1,250 crore in Vikram Udyog Puri in Ujjain, while L&T Mindtree has signed an MOU with the state government to invest Rs 500 crore to create almost 10,000 jobs in the state.

The CM also issued land allotment letters for 508 hectares of land to 283 industrial groups in the state. This move is expected to attract an investment of over Rs 12,000 crore, creating jobs for more than 26,000 people.yadav also remotely inaugurated 61 units, set up with an investment of Rs 10,064 crore, creating more than 17,000 new jobs in the state.during the two-day conclave, Chief Minister Yadav held one-to-one meetings with over 20 business houses, industrialists, and entrepreneurs.

The Regional Industry Conclave 2024 catalyzed Madhya Pradesh's journey towards becoming a frontrunner state.

Madhya Pradesh has provided impetus to its manufacturing industry through pro-industry policies. The policy framework of incentives aimed at propelling the growth trajectory of MSMES within the state. Furthermore, the state has implemented a Single Window Online System for all Selfemployment Schemes. Under the MP Startup Policy 2022, the state extends crucial support to budding entrepreneurs, offering financial assistance, lease rental reimbursements, and facilitation for participation in domestic and international events up to Rs. 50,000 and Rs. 1,50,0000 respectively.

Madhya Pradesh's robust infrastructure for the food processing sector, coupled with its 11 agro-climatic zones, ensures a varied agricultural produce and is likely to attract many investors. The state is a leader in organic crop production and has been recognised for its excellence in agriculture and therefore presents huge opportunities for strategic investors in Agriculture, dairy and food processing industries.the adoption of smart farming techniques, including Artificial Intelligence (AI), has propelled the state towards a digital farming revolution.

India's dominance in the global pharmaceutical market is undeniable, and within this landscape, Madhya Pradesh stands tall with its robust ecosystem. The state hosts a network of 270 plus pharmaceutical units, including 39 Api/bulk drug manufacturing units, with over 50 plus units adhering to WHO-GMP standards.

Leveraging schemes like the

Production Linked Incentive (PLI) scheme and the Promotion of Medical Devices Parks Scheme, Madhya Pradesh Government is incentivizing large-scale manufacturing and facilitating investments across subsectors. It will surely attract discerning investors in the pharmaceutical and medical devices sector within the State.