Private firms to invest Rs 3,000 crore in Madhya Pradesh, to create 14,000 jobs

      Comments Off on Private firms to invest Rs 3,000 crore in Madhya Pradesh, to create 14,000 jobs

NEW DELHI: The Madhya Pradesh government on Friday announced investments worth over Rs 3,000 crore by private firms in the state, with a potential to generate employment opportunities for 14,000 people, according to an official document.

The announcement in this regard was made by Madhya Pradesh Chief Minister Kamal Nath during the textile and garment sector round table held here.

The highest investment of Rs 3,000 crore with employment generation potential for 10,000 people was announced by Trident Group, it said.

Investments of Rs 100 crore and Rs 50 crore were announced by Mayur Uniquoters and Gokaldas Exports with a potential of generating 1,000 and 3,000 employment, the document said.

Another firm– Pratibha Syntex– will set up a textile park for Micro, Small & Medium Enterprise (MSME) units in Indore with an investment of Rs 100 crore, it said.

Besides these, the MP government has decided to implement several measures to further boost ease of doing business in the state.

Chief Minister Nath said immediate clearances and licenses will be provided for up to 40 services within 7 working days.

The state will take up policy for incentivising composite and integrated units in textile sector, he said.

The government has urged private developers to come forward for the development of garment park at Barlai (20 kms from Indore on way to Dewas) on a public-private-partnership (PPP) model.

“The state will devise more incentives for manufacturing of textile and apparels from organic cotton,” Nath announced.

He said any industry with investment lesser than Rs 100 crore but employing more than 500 people will be considered mega industry and will be eligible for customised package.

As per the existing scheme, industries with Rs 100 crore or more investment were considered mega industries for which customised package used to be approved by cabinet committee for investment promotion.

“Until now, garment units which are outside the limits of textile park or industrial parks were not eligible for incentives under the state government garment policy. Now, garment units outside the industrial parks will be eligible for incentives offered under the garment sector package,” the chief minister said.

He said ‘plug and play’ industrial park will be developed in Badiya Khedi (Sehore) in an area admeasuring 60 acres which is only 28 kms from Bhopal airport and close to Bhopal-Indore highway.

Investments worth crores of rupees were also announced during food processing sector round table discussion.

“PepsiCo procures Rs 110 crore worth of potatoes every year from MP. It will double its procurement of potatoes in future for further processing. The company will also invest in potato manufacturing unit in the state,” the document said.

Adani Wilmar will invest enormously in wheat flour business, it said.

They will also invest in Soya Badi and Basmati rice processing in Vidisha, according to the document.

Coca-Cola will invest in fresh juice manufacturing unit of oranges and mangoes,it said.

“Perishable commodity hub will be set up at Indore and Bhopal to promote export of fruits and vegetables,” it added.

Source: Press Trust of India