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The Government of Madhya Pradesh is organizing Global Investors Summit on of Madhya Pradesh, and provide a global platform for interaction with Indian. To capitalise these advantages posed by India, the investor summits offer an Global Investors Summit, the flagship investment promotion event of the Government of Madhya Pradesh, is an established platform for global leaders, investment. Every few months, India's state governments arrange alluring There is Madhya Pradesh Global Investors Summit, the Bengal Global.
More importantly, each industrial area features a mix of industries that are mostly ancillary units catering to bigger units elsewhere in the state. Another takeaway was the focus on integrating new development with existing sectors. While MP already holds pole position in the production of certain agri-commodities, it expects to vertically integrate these by setting up food processing units.
The pitch at GIS was based on easily available land and resources.
Embassy of India, Berne, Switzerland : Events/Trade Fairs
The state government claimed to have earmarked an industrial land bank,acres in size, an installed capacity of 18, MW, up from 12, MW two years ago, with 4, km of national highways and 10, km of rural roads added or repaired in the past two years.
These plans were matched by sector-specific policies like interest subvention, rebates on land registration, transport reimbursement and entry tax exemptions to investment projects. Doing what he often does during elections - seeking to leverage his personal rapport with folks into public support-CM Chouhan said that industrialists should remember that MP has him as its CM.
In turn, the big guns of industry heaped fulsome praise on him: PR exercises aside, the chief minister is no doubt aware that investment has not been arriving in MP in proportion to expectations.
The opposition made much of this: He added that the state government had claimed the summit in would yield Rs 1,20, crore, but only Rs 4, crore actually materialised. He offered figures for and as well, saying Rs 2,37, crore and Rs 1,22, crore were promised, while actual investment was under four percent of that. GIS should have brought in Rs 6,79, crore, he said, but there was no way to know the final sum, since no MoUs were signed that year. Towards the end of the second day of GIS, the chief minister announced that investment proposals totalling Rs 5,62, crore had been received.
While no one doubted the CM's sincerity, the bureaucracy in MP does not have the best reputation for efficiency, prompting Anil Ambani to mention that in an age of competitive federalism, when all states are wooing investors, the pace of decisions has to quicken, and that a "CM is as good as his team", adding, "it is better to tell us something can't be done rather than delaying".
Consider the five-day Magnetic Maharashtra show. So what is the strike rate, rather what is the conversion rate of the big hits? Fact is, while there are announcements aplenty, the conversion of intent into investment is enveloped in a fog of definitions, generalisations, rationalisations and politics—the Amarinder Singh government in Punjab, soon after taking over, said three of four proposals signed by the earlier regime had remained on paper.
MP: Govt looks at global investors’ summit with renewed hopes
There are claims and counterclaims. The macroeconomic data on investments put out by the government year on year does not reflect a surge or substantive conversion, particularly when mapped to the magnitude of investment proposals received by the state governments. While MoUs are rising in volume and value, Capex tracking by the Centre for Monitoring the Indian Economy shows new investment proposals have slipped lower inlower than previous years and the lowest since There is no disputing the need for focus on investments to ramp up growth—even if through mega meets or summits.
Equally, the fact that states are compelled and are competing to do so is a recognition that much needs to be done to improve ease of doing business—say in days taken to start a business or clearances required.
Even in Maharashtra, arguably an investment-friendly state which has created single-window options, an investor in a non-MIDC area must get 59 clearances—ten from labour, nine from urban development and eight from energy—to set up an industry.
To infuse credibility into the idea of investor summits there is a need to showcase improvements, audit and transparency in outcomes. It would be worth the while of either the Niti Aayog or the Industries Ministry to catalogue and track the translation of intent into investment across states. Greater conversion rates will enhance the ability of states to attract investment.
One sure-fire way to spur confidence would be to list conversion of proposals of the previous edition at the inauguration of the next summit—this and data on job creation would enhance the political dividends for the regime in power.
In fact, the current template of investor summits needs a drastic redesign.
It can and must be more than a jamboree.