C.M. Shri Kamal Nath Intensifies Pace, Clears Rs. 4000 Crore Proposals in Only Seven Days

7500 Persons To Get Employment
Chairs Cabinet Committee on Investment Promotion

Bhopal, June 12, 2019 (Muslim Saleem): It is for the first time Madhya Pradesh cleared six investment proposals worth Rs. 4000 crore in minimum seven days time. These will employ 7500 people. These proposals were approved by the Cabinet Committee on Investment Promotion, which met under the chairmanship of the Chief Minister Shri Kamal Nath at Mantralaya here today.
The Chief Minister Shri Kamal Nath has clarified that investments bringing in more employment and generating economic activities will be promoted. Such investors will be provided state-of-the art facilities.
Shri Nath said that the investment policy will focus on the areas where employment generation potential is higher and where economic activities can be promoted in a multiple way. He said that areas like Textile, Pharmaceutical, Artificial Intelligence offer huge potential for investment and employment. He said that all the facilities should be made available to the investors in such areas so that they are encouraged.
The Chief Minister said that the biggest challenge is to rebuild the confidence of investors in Madhya Pradesh. For this, the entire work culture should be made investment friendly and supportive. The Chief Minister also asked to expand the existing investments. Newer areas must be identified. He said that the investors lost faith in the last 15 years. Many investors could not take off their projects after showing initial interest. Now it is challenging to rebuild the confidence of investors, he added.
The Chief Minister said that it is necessary to avoid false publicity about industrial environment and investment prospects. He said situations on the ground must match what is publicised. The Chief Minister gave instructions to study the best practices in different states by which they continue to attract investments.
he Cabinet Committee cleared investment offers of Rs. 4025 crores that will employ 7500 persons. These include M / s Springway Mining Private Limited Rs.1400 crore, M / s Procter and Gamble Home Products Pvt Ltd -500 crore, M / s Inox Air Products Pvt Ltd Rs. 125 crore, M / s H.E.G. Ltd. – Rs. 1200 crore, M/s Shriram Piston and Rings Limited – Rs. 600 crore and M / s Wonder Cement Ltd -Rs. 200 crore.
The Chief Minister instructed to review the status of proposals at least once a month at the Cabinet Committee so that hurdles if any can be resolved promptly.
The Chief Minister said that State is already having a large scale production in the textile sector. The ready-made garments are sold in Gujarat and other states. He said that if major textile companies invest here people will get employment on a larger scale. The Chief Minister talked to the major industrialists associated with the textile industry and invited them to invest in the state.
The Finance Minister Shri Tarun Bhanot, Urban Development Minister Shri Jayvardhan Singh, Chief Secretary Shri S.R. Mohanty, Additional Chief Secretary, Energy Shri I.C.P. Kesari, Additional Chief Secretary Finance Shri Anurag Jain, Principal Secretary Public Relations and Industries Shri Rajesh Rajaura, Managing Director Madhya Pradesh Industrial Development Corporation Shri Vivek Porwal and senior officials were present.