MP invites Tamil Nadu industrialists to invest in the state
Updated: Aug 29, 2014 01:52:40pm
Indore, Aug 29 (KNN) Madhya Pradesh government has invited industries from Tamil Nadu to set up manufacturing units especially from textile and automobile sectors to boost investment.
Madhya Pradesh Chief Minister Shivraj Singh Chouhan said this while addressing industry representatives from Tirupur and Coimbatore at a road show in Coimbatore, organised by the Madhya Pradesh government, for the Global Investors’ Meet to be held in Indore on October 9 and 10.
Chouhan said his government was giving a boost to industrial development, especially manufacturing.
He mentioned about a few initiatives taken by the state government to develop industrialization like- the State framed a Chief Minister’s self-employment scheme that would give support for marketing, technology, training and finance.
He also mentioned that the state follows an investor-friendly policy and provides uninterrupted power supply and has zero-tolerance for corruption.
The State has a single-window system for industries and plans to include investment under the Public Service Guarantee Act to avoid delay in getting any service from the government.
Every Monday, investors will be able to meet the Chief Minister even without an appointment, he said as quoted in a media report.
Also speaking at the same meeting, Minister for Commerce, Industries, and Employment Yashodhara Raje Scindia said the BJP government was focussing on industrial development.
Participants from 20 countries are expected for the fourth edition of the meet. On October 8, an MSME convention would be organised.
However, the previous record of the state in implementing the memoranda of understanding (MoUs) signed during previous investor summits remains poor.
According to a media report, out of 531 MoUs signed between 2007 and 2012, production has started in only 194 MoUs and 27 MoUs have been cancelled while the remaining are yet to be implemented. In rupee terms, only 17 per cent of the investment committed during the summit by MSME sector has been translated to actual production during the five year period.
Some of the industry experts put the blame on lack of land availability near the city, scarcity of funds and also on bureaucratic delays in clearing files. (KNN/SD)
Madhya Pradesh Chief Minister Shivraj Singh Chouhan said this while addressing industry representatives from Tirupur and Coimbatore at a road show in Coimbatore, organised by the Madhya Pradesh government, for the Global Investors’ Meet to be held in Indore on October 9 and 10.
Chouhan said his government was giving a boost to industrial development, especially manufacturing.
He mentioned about a few initiatives taken by the state government to develop industrialization like- the State framed a Chief Minister’s self-employment scheme that would give support for marketing, technology, training and finance.
He also mentioned that the state follows an investor-friendly policy and provides uninterrupted power supply and has zero-tolerance for corruption.
The State has a single-window system for industries and plans to include investment under the Public Service Guarantee Act to avoid delay in getting any service from the government.
Every Monday, investors will be able to meet the Chief Minister even without an appointment, he said as quoted in a media report.
Also speaking at the same meeting, Minister for Commerce, Industries, and Employment Yashodhara Raje Scindia said the BJP government was focussing on industrial development.
Participants from 20 countries are expected for the fourth edition of the meet. On October 8, an MSME convention would be organised.
However, the previous record of the state in implementing the memoranda of understanding (MoUs) signed during previous investor summits remains poor.
According to a media report, out of 531 MoUs signed between 2007 and 2012, production has started in only 194 MoUs and 27 MoUs have been cancelled while the remaining are yet to be implemented. In rupee terms, only 17 per cent of the investment committed during the summit by MSME sector has been translated to actual production during the five year period.
Some of the industry experts put the blame on lack of land availability near the city, scarcity of funds and also on bureaucratic delays in clearing files. (KNN/SD)
Loading...
