Measures taken by the Madhya Pradesh government to improve ease of doing business and ratification of the Goods and Services Bill will help it reap economic benefits, President of the US-India Business Council (USIBC) Mukesh Aghi said today.
“The central location of the state, skilled manpower, robust industries spanning every sector of the economy makes it an ideal destination for investment,” Aghi said.
He noted that recent measures by the state government to improve ease of doing business by fast-tracking decision- making processes, ratification of the GST Bill, numerous smart city and solar energy projects and the state’s joining of the Ujwal DISCOM Assurance Yojana (UDAY) scheme are “indicative of an entrepreneurial mindset, and are likely to reap economic benefits for the state”.
Chief Minister Shivraj Singh Chouhan is currently in the US and has been meeting several investors and industry leaders from across various sectors, outlining the advantages they have in investing in the state.
Aghi also expressed hope that the Madhya Pradesh Global Investor Summit, to be held in Indore on October 22 and 23, will see participation from American investors.
During Chouhan’s visits, MoUs were signed between the state government and US firms as well as between private companies.
US IT company UST Global entered into a partnership with the State of Madhya Pradesh, with Chairman Emeritus of UST Global Dan Gupta saying it will invest Rs 400 crores in Madhya Pradesh with the aim of creating 5000 jobs.
“Our business continues to be committed to and passionately driven by our mission to transform lives,” Gupta said.
A group of US industry executives from USIBC met with Chouhan yesterday to discuss investment opportunities in the state and to discuss the global investors summit.
USIBC said in a statement that Chouhan engaged with senior business executives on key topics such as Madhya Pradesh’s comparative edge as an investment destination and regulatory reform measures that have been undertaken to promote ease of doing business in the state such as the concept of “single table” clearance.
The discussion also focused on key areas for investment promotion in the state including aerospace and defense, automobiles, electronics, food processing, IT, pharmaceuticals and renewable energy.
Describing Madhya Pradesh as an ideal investment destination, Chouhan said the state has clocked an agricultural growth of 20 per cent per annum and the industrial sector has been growing at eight per cent.
The state also provides 24/7 electricity, as well as has the largest solar energy generator in Asia.
“Madhya Pradesh is a dynamic state with burgeoning opportunities across all sectors for investors,” Chouhan said. Companies and senior leaders from every major sector of business— MasterCard, Pfizer, Xylem, John Deere, Herbalife, Vanguard, and Skypower attended the meeting.
Yesterday, Chouhan had addressed a large gathering at the Indian Consulate, organised by the Friends of Madhya Pradesh group’s New York and New Jersey chapter.
Chouhan shared with the diaspora from the state his vision of transforming Madhya Pradesh as a world class investment destination. He said his aim is to ensure the young boys and girls of the state have access to education and are given the opportunities to be able to set up their own companies.
He called on the state’s diaspora settled in the US and across the world to remain connected with their roots and continue to bring the two nations closer with their contributions and achievements.