Pervez Bari, TwoCircles.net,
Gwalior: Stage is all set for the two-day Investors’ Meet at Gwalior, a historical town in the central Indian state of Madhya Pradesh, starting here on Tuesday wherein the Bharatiya Janata Party ruled state government is expecting that Memorandums of Understanding, (MoUs), worth Rs. 27.43 billion would be signed.
The status of the Gwalior Investors’ Meet would be of an international level as the Madhya Pradesh Government is likely to sign an agreement with the Japan External Trade Organization, (JETRO), on the opening day on July 29 to rope in Japanese investors to the state through which India’s mega project – 1483 km Delhi-Mumbai Industrial Corridor, (DMIC), — would pass through.
Madhya Pradesh would have four nodes adjoining DMIC – Mhow-Pithampur-Dhar, Ratlam-Nagda, Shajapur-Dewas and Neemuch-Nayagaon – which would be developed as mega industrial esatates and $9 billion to 10 billion investment is expected on completion of the project.The DMIC would pass through six states – Madhya Pradesh, Rajasthan, Maharashtra, Gujarat, Haryana and Delhi.
According to Madhya Pradesh Industry Minister Jayant Malaiya in Gwalior investors meet as many as 300 investors from all over India have been invited to attend the meet. The industrialists who have given their consent to attend the meet include chairman of Fenner India Ltd Chennai Raghupati Singhania, D.K. Mittal of Mumbai-based I.L & F.S. Infrastructure Corporation Ltd., regional vice-president of Delhi-based Rio Tinto Private Limited Dr. N. Nick Senapati, Managing Director of Hero Aviation Private Limited, Delhi Pankaj Munjal, president of Jindal Iron and Steel Company Limited and SSOCHAM Sajjan Jindal and Managing Director of Ispat India Vinod Mittal.
He informed that Madhya Pradesh has carved out a niche for itself on global scenario in the wake of the state government’s efforts during the last three years to introduce industrialists and investors with the possibilities and resources available in Madhya Pradesh.
It may be mentioned here that prior to this, investors’ meet at Khajuraho, Indore, Jabalpur and Sagar 18, 102, 61 and 36 MoUs respectively were signed worth Rs. 39,000 crore (about $ 9.784 billion) , Rs. 120541 crore (about $30.13525 billion), Rs. 56829 crore (about $14.207 billion) and Rs. 29548.91 crore (about US $ 7.413 billion) of proposed investments.
Thus, a total 241 MoUs have been signed so far in the four investors’ meet organized by Madhya Pradesh Government wherein there would be proposed investments worth Rs. 245918.91 crore (about US $61.695 billions).
Malaiya said projects worth Rs.3.50 billion would be inaugurated during the meet. These include He the Rs. 45.2 million stone park project in Old Chhaoni in Gwalior where stone-based units have been allotted plots for making stone slabs and tiles. Another unit that will be inaugurated on the occasion is Surya Roshni Ltd. at Malanpur for producing CFL lights in Bhind district with an investment of Rs. 400 million. Deendayal Industries Limited, set up with an investment of Rs. 1 billion at Gwalior, will also be opened during the meet. ([email protected])