Investors summit: MP hopeful of massive investments
State authorities, according to sources, are likely to skip core manufacturing sectors and power biggies
In a bid to do away with irritants like cumbersome procedure, typical documentation and litigation, which distract investors, the Madhya Pradesh government is learnt to have made some changes in its strategy during the forthcoming Global Investors Summit to be organised from October 28-30 here next month.
State authorities, according to sources, are likely to skip core manufacturing sectors and power biggies. In lieu, plans are being prepared for attracting investment in the soft-sectors. The same sources informed the Business Standard that high-level meetings and roadshows in Mumbai and Delhi have resulted in Rs 2 lakh crore of expected investment in the medical, leisure, education, real estate, skill development, agri and food processing, logistics and warehousing and engineering sector.
“Core sector demands huge land, coal and water; it requires a cumbersome process for both industrialists as well as the government to make procedure easier for investment. Hence, the Global Investors Summit is expected to attract more investors from non-core sectors,” a well-placed source informed Business Standard, adding, “Sector wise seminar plans have been completed and now sector presentation are being readied.”
One-to-one meeting with leading healthcare and ayush services providers are planned in Mumbai and Kerala. Land bank profile is ready to attract investment in all districts so that investors can float concepts like Medi-City or Ayush Hub in the state. “All biggies in medical sector have been contacted to attract investment and medical tourism will hold the key during the three-day summit,” said the source. After the recent road-shows organised in New Delhi, the state expects nearly Rs 2,000 crores worth of investment from pharma majors like Ranbaxy, Teva, Rockland, Moolchand Hospital, Hospimax, Sanofi and Bafna. “Plans are afoot to attract investment from all these companies,” said a source.
Similarly, urban development and tourism sector may attract around Rs 40,000 crore. In the education and skill development sector, Narsee Monjee Institute of Management, Symbiosis, has been contacted with Madhya Pradesh is expected an investment of Rs 6,000 crore in the sector.”
“More than 20 national skill development agencies have evinced interest in Madhya Pradesh with a meeting in New Delhi being planned soon,” one of the sources claimed.