Madhya Pradesh to woo global investors at road show

IANS, AUGUST 3. 2006
Bhopal, Aug 3 (IANS) Madhya Pradesh expects to attract additional investments of Rs.200 billion (over $4 billion) from its first road show, aimed at global players including NRIs, in New Delhi Friday.
The road show, where Chief Minister Shivraj Singh Chouhan will interact with industrialists and showcase the government’s business potential, is a prelude to the Global Investors Summit-2007 planned here in January next year.
The chief minister will also inaugurate a website for the event.
The government hopes to attract NRI and other investors from the US, Malaysia, Japan, Australia, Singapore, China, Italy, said state Commerce and Industries Minister Babulal Gaur.
“Textile, biotechnology and processing of farm produce offer immense investment opportunities in the state,” Gaur told IANS.
Similar road shows would also be organised in the US, Singapore, Japan and China and other places in near future, he said.
The task of marketing Madhya Pradesh globally has been given to industrial lobby Federation of Indian Chambers of Commerce and Industry (FICCI), which is preparing a strategy for a ‘Second Generation Development Roadmap’.
Claiming that industrial projects to the tune of Rs.250-300 billion were going to start soon, a top official said work on some of these at Pithampur, Bina, Gwalior and Jabalpur had already begun.
By next year, the state plans to attract investments worth Rs.1 trillion while projects worth Rs.870 billion were under different phases of implementation.
The government has also constituted the Project Clearance and Implementation Board (PCIB) to speed up sanctions of proposals relating to private capital investments.
The board, headed by the state chief secretary, would comprise the principal secretaries of finance, revenue, commercial taxes, industries and employment and housing and environment departments along with the secretary to the chief minister as its members.
“We are getting a number of proposals from companies, groups and individuals for capital investments in industries, services, infrastructure and other enterprises in the state. Thus, an interdepartmental coordination and decision making body was necessary,” a government official said.
“The constitution of the PCIB would enable the clearance of the proposals, submitted by the investors, in a coordinated manner,” he added.

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