India witnessing new economic era with PM Mr. Modi’s “Make in India drive”: CM

Madhya Pradesh has best offer for Chinese investors

Addresses business seminar on investment in M.P. at Beijing

lead21.6.16Bhopal, June 21, 2016 (Muslim Saleem):   The Chief Minister Mr. Shivraj Singh Chouhan has said that the innovative Make In India drive launched by the Prime Minister Mr. Narendra Modi has made business and trading easier. It is beginning of a new economic era in the country. Addressing a business seminar on Invest in Madhya Pradesh at Beijing the Chief Minister highlighted the key advantages of investing in Madhya Pradesh. He also elaborated investment avenues in priority sectors. Mr. Chouhan said that India’s GSDP is increasing at pace spurred by liberal investment policies. Its GSDP in the financial year 2016 touched impressive 7.6 percent. All Indian states are drawing benefits now. He said that Madhya Pradesh is an easily accessible central Indian state. Its GSDP is growing upward. Elaborating the sound economic condition of Madhya Pradesh, Mr. Chouhan said that the state has been consistently revenue surplus since 2004 and has been able to maintain its GSDP in two digit. The growth rate in tax revenues is 17 percent. Listing the advantages of investment, he said that Madhya Pradesh is having world class investment friendly infrastructure.

He said that the State has 230 developed industrial areas including micro and small medium enterprise and large industrial areas. This also includes Chinese Industrial Township at Pithampur in Dhar district. Mr. Chouhan informed the business community of vast land resource meant for fresh industrial investments. He said that lands are available on concessional rates for 30 years lease.  Referring to investment opportunities in focused sectors, Mr. Chouhan said that automobile engineering, textile and handloom, pharmaceuticals, agri-business and food processing, new and renewable energy are the priority sectors.

About Chinese Industrial Township, Pithampur, Mr. Chouhan said that total area is 205 hectare including 135 industrial plots. He said that it is the best offer to Chinese investment companies from Madhya Pradesh. Underlining the proposed incentives for prospective Chinese companies investing in the state, Mr. Chounhan said that entry tax exemption for seven years, exemption in the cost of land development, 100 percent exemption on stamp duty, 100 percent reimbursement of Value Added Tax and central sales tax for 10 years, 100 percent exemption on electricity duty for 10 years. He urged the business heads and executives to make up mind for investment saying that it will boost State’s economy while immensely contributing to state’s development process.