Expect investments in excess of Rs 4 trn to create 100,000 jobs: MP CM

The size of the investments is important, but equally crucial is the number of jobs that these proposals create, said MP CM

The Madhya Pradesh government will host the Global Investors Summit (GIS) in state capital Bhopal on February 24-25. In an interview with Sanjeeb Mukherjee and Archis Mohan in New Delhi last week on the sidelines of a preparatory event related to the summit, Chief Minister MOHAN YADAV spoke about his government’s plans to amend 30 policies to foster ease of doing business and said he was confident that investment proposals would exceed all previous records. Edited excerpts:

 

What is the target of investment proposals the government is seeking during the summit in Bhopal?

 

The size of the investments is important, but equally crucial is the number of jobs that these proposals create. Our objective is to bring about reforms in our systems and processes to facilitate investments, which will help create jobs. Even if it is a factory with an investment of Rs 25 crore but leads to creation of 5,000 jobs, it is a big accomplishment for us. And the way we have been receiving investment proposals, I am extremely confident that we will break all our past records in attracting investments.

 

Could you name the sectors where investors have shown keen interest?

 

We are receiving investment proposals across a wide array of sectors, including energy and mining. We expect investments in excess of Rs 4 trillion will create 100,000 jobs. Renewable energy, including solar energy, wind energy, and pump storage hydropower, have been big draws. We have drafted a pump storage hydropower policy, which we believe is one of the best. Madhya Pradesh is blessed in terms of natural resources as well as geographically. It is well suited for generating wind energy and pump storage hydropower, which needs both hills and plains for generation and storage. Investors need to be sure that there will be consumers for the power generated and also need confidence in government’s systems and procedures. MP is a food basket; it also has a wide network of national and state highways and rail network. We are expanding our capacity for handling air cargo. We will leverage our six airports for that. We are also improving our state transport network. We are constructing residential colonies for our workers in industrial areas.

 

Could you talk about your government’s new policies for industry?

 

Our intent in bringing these policies is to instill confidence in investors about government processes and make compliance easier so that they have clarity when they come to invest. Earlier, 28 permissions were needed, which we have reduced to 10, and we have simplified processes significantly to facilitate business.

 

We are working on 30 policies to foster ease of doing business and notify all public services, except those that require permission from the central government under the Public Service Guarantee Act for time-bound delivery. Prime Minister Narendra Modi’s vision is that industry is needed for the growth of the country and I also believe that industry is needed for the welfare of people. Therefore, I welcome all industrialists from India and abroad for the mega event in Bhopal. The Industrial Investment Promotion Policy 2025 is the overarching policy, which also includes 11 other policies. So far, 20 policies have been approved and eight to 10 new ones will be introduced soon. Earlier, the industry had to take separate permission if it wanted to build housing complex for its employees in land meant for manufacturing, but now we have decided to do away with such requirements. This will enable the government to build residential places for workers under the Pradhan Mantri Awas Yojana-Urban. We are framing a policy under which industries can open and run skill training centres in free time in colleges near their units. Earlier, around 30 permissions were required to set up a tourism project. But now, the state has decided to bring it down to just 10.

 

What are your expectations about investments in start-ups, new age sectors, semiconductors?

 

We have promoted investments in these sectors, especially for youth entrepreneurs and in labour-intensive sectors to create jobs. We are actively trying to get investments in the space sector, semiconductors, artificial intelligence, and manufacturing of drones. We are putting in place a science park. Big global players are queuing up to invest, including Uniqlo, while Avaada Group Chairman Vineet Mittal announced Rs 50,000 crore investment in MP’s renewable energy sector (at the GIS summit event in New Delhi on Wednesday).

 

What are the incentives being offered to industry?

 

We have laid down incentive schemes. The point is to engage with the industry and investors, which we are doing with these GIS curtain-raiser events in bigger cities across India. We could give specific incentives if there is a big investor. This is why I have been present at these curtain-raiser events myself as the chief minister of the state in case someone needs clarity or some other way that we should help them. If it is in our ambit, we will help.

 

What is the state government doing on labour laws and land acquisition?

 

Our objective is people should get work but they should earn their livelihood in a working atmosphere where they are treated well. On land, we have a land bank of 100,000 acres. Land prices in the state are much lower than Delhi and Mumbai.