The two-day-long Madhya Pradesh Global Investors Summit began on Wednesday in Indore. Industrialists, representatives of various industry associations, foreign delegates and representatives from all G20 countries are scheduled to attend the event.
The inaugural session was attended by business leaders from Aditya Birla, Tata, Bajaj, Piramal, Godrej, Lulu Group, Dalmia Bharat, JK Tyres, Reliance, Adani, and JSW, among others.
What did business leaders say?.
Tata Sons chairman N Chandrasekaran said, “Madhya Pradesh has very strong investment potential. “
He added that Tata Consultancy Services or TCS has already provided technology support to approximately 200 companies in Madhya Pradesh, and Tata International has the state’s longest business presence.
According to Kumar Mangalam Birla of the Aditya Birla Group, Madhya Pradesh benefits from its geographic location as well. “This state is linked to many other states. A significant portion of the Delhi-Mumbai corridor passes through the state,” Birla said, adding that MP is Aditya Birla Group’s “Karma Bhoomi”.
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Chandrajit Banargee, director general of the Confederation of Indian Industry (CII), said the industry body has been in the state since 1989 and plans to expand its presence in MP. “To assist the youth, the company intends to open a new skilling centre in the state. It also intends to create 1,000 jobs over the next few years and to assist start-ups,” he said.
Speaking in the opening session, Abhay Firodia, chairman of Force Motors, said Madhya Pradesh has changed in two decades and attributed the main reason for this change to its people. “The society here is associated with Indian tradition and values… People in the MP have high qualities of efficiency.”
Parth Jindal, the managing director of JSW Cement and JSW Paints, also spoke at the summit.
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“We have made a cement acquisition, acquiring lime stone mines in Panna district, and we will soon launch a state-of-the-art, fully integrated cement plant in Madhya Pradesh with an investment of close to ₹3,000 crore,” he said.
Nikhil Meswani, executive director of the Reliance Group, said the company plans to open 217 retail outlets in MP next year. “Work is going on many big projects in MP, including the construction of industrial corridors. There is a very favourable environment for investment in the state, he added.