India witnessing new economic era with PM “Make In India drive” : CM
Bhopal. The Chief Minister Shri Shivraj Singh Chouhan has said that the innovative Make In India drive launched by the Prime Minister Shri Narendra Modi has made business and trading easier. It is beginning of a new economic era in the country.
Addressing a business seminar on Invest in Madhya Pradesh at Beijing the Chief Minister highlighted the key advantages of investing in Madhya Pradesh. He also elaborated investment avenues in priority sectors.
Shri Chouhan said that India’s GSDP is increasing at pace spurred by liberal investment policies. Its GSDP in the financial year 2016 touched impressive 7.6 percent. All Indian states are drawing benefits now. He said that Madhya Pradesh is an easily accessible central Indian state. Its GSDP is growing upward.
Elaborating the sound economic condition of Madhya Pradesh, Shri Chouhan said that the state has been consistently revenue surplus since 2004 and has been able to maintain its GSDP in two digit. The growth rate in tax revenues is 17 percent. Listing the advantages of investment, he said that Madhya Pradesh is having world class investment friendly infrastructure. He said that the State has 230 developed industrial areas including micro and small medium enterprise and large industrial areas. This also includes Chinese Industrial Township at Pithampur in Dhar district.
Shri Chouhan informed the business community of vast land resource meant for fresh industrial investments. He said that lands are available on concessional rates for 30 years lease.
Referring to investment opportunities in focused sectors, Shri Chouhan said that automobile engineering, textile and handloom, pharmaceuticals, agri-business and food processing, new and renewable energy are the priority sectors.
About Chinese Industrial Township, Pithampur, Shri Chouhan said that total area is 205 hectare including 135 industrial plots. He said that it is the best offer to Chinese investment companies from Madhya Pradesh.
Underlining the proposed incentives for prospective Chinese companies investing in the state, Shri Chounhan said that entry tax exemption for seven years, exemption in the cost of land development, 100 percent exemption on stamp duty, 100 percent reimbursement of Value Added Tax and central sales tax for 10 years, 100 percent exemption on electricity duty for 10 years. He urged the business heads and executives to make up mind for investment saying that it will boost State’s economy while immensely contributing to state’s development process.
Shri Chouhan invited the business community to Global Investors Summit to be held at Indore on October 22-23, 2016.
President of Chinese Chamber of Commerce Shri Zhang Yujing welcomed the Chief Minister and delegation members. He appreciated the pro-active approach of Madhya Pradesh to the business and trade. He also praised the idea of inclusive growth in business, which the State is implementing in practice.
Minister for Industries and Commerce Smt. Yashodhara Raje Scindia said that Madhya Pradesh is progressing faster under the dynamic leadership of the Chief Minister Shri Chouhan. She assured that there would be no hurdles for the investing companies. Infrastructure related facilities would be ensured and support would be extended at every level.
Representatives of China National Chemical Engineering Co., Ltd (CNCEC), China Fortune Land Development Co., Ltd (CFLD), Jiusan Group, Global Investment, Shenyang Yuanda Thrive Engineering Co., Enterprise Management Department, Sinopharm International Corporation Ltd, India Market Beijing, Choice Electronic Technology Company, Sany Group and many other prestigious companies attended the seminar.
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