Madhya Pradesh woos investors with tax concession, good infra

"We have an abundance of natural resources and is well connected to every part of the country making us an ideal investment destination. We have also created an investment friendly environment, like single clearance window, among others," Urban Development Minister Babulal Gaur told industry captains at a CII event here.

The minister said the state is ideal for investment in agriculture and food processing, textile and apparel, auto and engineering, biotech and pharmaceuticals, among others. The state government is also looking for private-public partnership (PPP) in real estate and urban development, he said.

"There is a huge opportunity in the urban housing sector and we are looking at the PPP model. We wish to provide low cost housing to help eradicate slums," he said.

 

Besides urban development, the state is also focused on further enhancing the tourism sector, he added.

The state, which has over 382 tourism sites, is looking at a PPP model to enhance its infrastructure to attract foreign tourists, Madhya Pradesh State Tourism Development Corporation's Managing Director R K Singh said, adding that the state expects up to 20 per cent rise in arrivals this year.

Madhya Pradesh, which spends about Rs 125-150 crore yearly to promote tourism is also planning overseas roadshows to attract foreign tourists, he said.

"We are planning to hold roadshows in Australia, New Zealand, USA, UK and Germany. Besides, Sri Lanka has invested Rs 300 crore to develop a Buddhist university which we hope will attract tourists from Japan, Bhutan and Sri Lanka," he added.