The Madhya Pradesh Chief Minister, Shivraj Singh Chouhan, has said that the innovative Make in India drive launched by the Prime Minister, Narendra Modi, has made business and trade easier. It is the beginning of a new economic era in the country. Addressing a business seminar, 'Invest in Madhya Pradesh', in Beijing on Monday, the Chief Minister highlighted the key advantages of investing in Madhya Pradesh. He also elaborated on investment avenues in priority sectors.
Chouhan said that India's GSDP is increasing at pace spurred by liberal investment policies. Its GSDP in the financial year 2015-16 touched an impressive 7.6 per cent. All Indian States are drawing benefits now. He said that Madhya Pradesh is an easily accessible central Indian State. Its GSDP is growing upward.
Elaborating the sound economic condition of Madhya Pradesh, Chouhan said that the State has been consistently revenue surplus since 2004 and has been able to maintain its GSDP in two digit. The growth rate in tax revenues is 17 per cent. listing the advantages of investment, he said that Madhya Pradesh is having world class investment-friendly infrastructure. He said that the State has 230 developed industrial areas, including micro and small medium enterprises and large industrial areas. This also includes the Chinese industrial township at Pithampur in Dhar district.
Chouhan informed the business community of the vast land resource available for fresh industrial investments. He said that lands are available on concessional rates for 30 years lease.
Referring to investment opportunities in focused sectors, Chouhan said that automobile engineering, textile and handloom, pharmaceuticals, agri-business and food processing, new and renewable energy are the priority sectors.
About the Chinese industrial township, Chouhan said that the total area is 205 hectare, including 135 industrial plots. He said that it is the best offer to Chinese investment companies from Madhya Pradesh. The proposed incentives for prospective Chinese companies investing in the State, Chounhan said, are entry tax exemption for seven years, exemption in the cost of land development, 100 per cent exemption on stamp duty, 100 per cent reimbursement of Value Added Tax and Central sales tax for 10 years, 100 per cent exemption on electricity duty for 10 years. He told the business heads and executives that their investment will boost the State's economy while immensely contributing to the State's development process.
Chouhan invited the business community to the Global Investors Summit to be held at Indore from October 22 to 23, 2016. The president of the Chinese Chamber of Commerce, Zhang Yujing, welcomed the Chief Minister and the delegation. He appreciated the pro-active approach of Madhya Pradesh to the business and trade. He also praised the idea of inclusive growth, which the State is implementing.
Minister for Industries and Commerce Yashodhara Raje Scindia said that Madhya Pradesh is progressing faster under the dynamic leadership of Chouhan. She assured that there would be no hurdles for the investing companies. Infrastructure-related facilities would be ensured and support would be extended at every level.
Representatives of China National Chemical Engineering Co, ltd (CNCEC), China Fortune land Development Co, ltd (CFlD), Jiusan Group, Global Investment, Shenyang Yuanda Thrive Engineering Co., Enterprise Management Department, Sinopharm International Corporation ltd, India Market Beijing, Choice Electronic Technology Company, Sany Group and many other prestigious companies attended the seminar.