INDORE: Madhya Pradesh chief minister Kamal Nath on Friday dismissed the impact of economic slowdown on his state and said it was all set to create a “new history of investment”. Nath was speaking at the concluding ceremony of the one-day investors’ summit here.
“There is no economic slowdown in the state, but new industrial investment sentiment is being raised. In fact, after this conference, a new history of investment is going to start in the state,” Nath said.
Citing examples, Nath said, “Vehicle sales in Madhya Pradesh have gone up by four percent, while sales have seen a decline in other states.” Nath, however, did not share details of the amount of investment the one-day conference had managed to garner, claiming he did not want to get into such data just to “show off”.
He said an Israeli company had expressed willingness to invest Rs 1,200 crore for a project and had also inspected a plot of land for the purpose. He said discussions were held with representatives of Japan External Trade Organization (JETRO) on developing a special industrial park in MP. India Cement will invest Rs 1,200 crore in MP which will gradually be raised to Rs 2,500 over three years, Nath said.
Sanjeev Puri, chairman of tobacco-to-FMCG behemoth ITC said work was underway on a state-of-the-art food processing plant in MP. Nath said an investor owning land need not visit offices seeking approval if all relevant laws were being followed.
“After three years of setting up such an industry, we will check whether the unit is following rules or not,” he said. Nath said a commercial hub on the lines of Mumbai’s Bandra-Kurla Complex was being developed in Indore. Taking a dig at the single window system introduced by the previous BJP government in the state, Nath said, “Behind the single window, there were 10 windows that did not open.” PTI
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