MP receives investment proposals worth Rs 17,000 crore at RIC Jabalpur

MoU to boost defence production in the state signed; proposals worth more than Rs 5,000 crore given by some 1,500 units of the MSME sector

The Madhya Pradesh government has received investment offers worth Rs 17,000 crore at the Regional Industry Conclave (RIC) held in Jabalpur on Saturday.

This includes investment proposals worth more than Rs 5,000 crore given by some 1,500 units of the MSME sector.

During the conclave, Chief Minister Mohan Yadav inaugurated 29 industrial units and performed ‘bhoomi pujan’ of 38 units. A total investment of Rs 1,500 crore will be made in these and about 4,500 people will get employment. The chief minister also announced to set up a state-of-the-art ‘readymade and textile skill centre’ in Jabalpur.

During the conclave, an MoU of Rs 600 crore was signed between Ashok Leyland and Armed Vehicle Corporation Limited under which defence equipment will be manufactured.

Calling it an important investment in the field of defence production, the chief minister said that till now, cannons were manufactured in Madhya Pradesh for the defence sector, but now tanks will also be manufactured here.

In the major investment proposals received in the conclave, Heidelberg Cement has expressed its intention to invest Rs 1,500 crore under CSR activities in the state, SRF Group has proposed to invest Rs 2,500 crore in the pharma sector, Volvo Eicher Commercial Vehicle will invest Rs 1,500 crore to set up a research centre and Lohia Group has offered to invest Rs 1,000 crore in food processing industry.

Inviting industrialists for the Global Investors Summit to be held in Bhopal in February 2025, the chief minister said that Madhya Pradesh is providing adequate incentives to industrialists in the form of labour, land and subsidy. He said that there are 60 pharma units in Pithampur alone and the medicines made in the state are exported to 160 countries across the world.

Many industrialists, including Heidelberg Cement CEO Joydeep Mukherjee, Pratibha Syntex MD Shreyaskar Chaudhary, Volvo Eicher Commercial Vehicle MD Vinod Agarwal and SRF Ltd CMD Ashish Bharatam attended the conclave. 

Agarwal of Volvo Eicher said that he is happy to have provided employment to more than 35,000 people in the state so far. Other industrialists also described the atmosphere of the state as positive for industries.