Nearly nine decades ago, a youngish man presented himself to Sir Sobha Singh and convinced him to establish an ice cream factory in the sleepy little town he ruled. The year was 1939.

Sensing opportunity, the real estate magnate set up the Nerbudda Ice Cream factory on a 12-acre plot leased to him by the man, Nawab Hamidullah Khan, the last ruler of the erstwhile princely state of Bhopal. The results were sweet—the business flourished, bringing in dollops of cash for Singh, while the Nawab found solace in fostering an enterprise that provided employment to his people.

The incident, cited by city historians, is a testament to the win-win scenarios that arise when administrators aggressively pursue investment for the benefit of their subjects.

Despite the Nawab’s efforts to industrialize Bhopal, the post-independence socialist era saw many ventures shuttered as an anti-industry sentiment took hold. The city suffered another devastating blow with the 1984 Gas Tragedy practically erasing it from India’s industrial map.

While other state capitals reinvented themselves as economic powerhouses, incentivizing technology firms and other businesses, Bhopal remained trapped in its past. Poor rail, road, and air connectivity stifled its potential, and prevented it from capitalizing on its strategic location as a logistics hub.

But that was then. The new millennium brought change. Road networks strengthened, railway and air services improved, and the city finally began to unlock its potential. Today, Bhopal boasts a well-developed infrastructure, comparable to the best in the country.

With better connectivity and a business-friendly environment, industries have begun to take notice. Scores of companies have set up offices and manufacturing units, drawn by Bhopal’s affordability and peaceful atmosphere, making it one of India’s most cost-efficient and livable cities.

Over the last two decades Bhopal has undergone a massive transformation with scores of people deciding to settle in its peaceful environs.

The influx has worked wonders for businesses in the state capital which is now on its way to finally exorcise the ghost of its unfortunate past as it takes the superhighway to development with the hosting of the Global Investors Summit.

The summit, to be attended by thousands of large investors with capacities to invest billions in the local economy, is a sure sign that the city has finally come of age.