India Inc commits close to Rs 1 lakh-cr in MP

India Inc committed investments of nearly Rs 1 lakh-crore for Madhya Pradesh on Thursday, the second day of the Global Investors Summit here.

The Ambani brothers, Mukesh and Anil, pledged a combined investment of Rs 50,000 crore for their respective groups. Gautam Adani of Adani Group announced Rs 20,000 crore, followed by Suzlon's Tulsi Tanti’s promise of Rs 15,000 crore. Welspun’s Sindoor Mittal committed Rs 5,000 crore, Essar’s Shashi Ruia Rs 4,000 crore, Future Group’s Kishore Biyani Rs 2,000 crore and Symbiosis Open Education Society Rs 200 crore.

Tata Group’s Cyrus Mistry, Aditya Birla Group’s Kumar Mangalam Birla, ITC's Y C Deveshwar, Larsen & Toubro’s A M Naik and Godrej Group’s Adi Godrej were among those who attended.

Reliance Industries’ Chairman, Mukesh Ambani said: “India is on a resurgent path of growth and Madhya Pradesh is already on the way...We are going to invest Rs 20,000 crore in the coming years in energy, retail business, entrepreneurship development and the digital infrastructure sectors.”

Mistry expressed his group’s commitment to set up an integrated business process outsourcing campus in the city, to employ 10,000 information technology professionals. Tata Motors will also support Bus Rapid Transit projects in Ujjain and Jabalpur, and set up a driver training institute in Bhopal.

Adani said: “We started from soybean processing and now we are going to invest Rs 20,000 crore in the state in the coming five years.”

ITC’s Deveshwar said the company would establish an agri-product manufacturing and a eco-friendly paper plant in MP. L&T’s Naik said his company would raise transmission tower production capacity in the state from 45,000 tonnes to 75,000 tonnes.