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The Madhya Pradesh government is gearing up for its sixth Regional Industry Conclave (RIC), set to take place on December 7, 2024, in Narmadapuram (Hoshangabad). Spearheaded by Chief Minister Mohan Yadav, the conclave is part of a larger initiative aimed at attracting significant investments to the state and fostering industrial development across its regions.
The event will serve as a platform for prominent industrialists and investors from across the country to engage in one-on-one meetings with the Chief Minister. The goal is to encourage investment by offering quick resolutions to challenges and ensuring the necessary facilities are provided to potential investors.
The concept of regional conclaves, introduced by the Chief Minister, has already proven effective, with previous events held in Jabalpur, Indore, Ujjain, Sagar, and Rewa. Each conclave is focused on a particular region, promoting sector-specific industries and leveraging local resources to drive economic growth. These efforts are designed to not only bring in fresh capital but also to increase employment opportunities for the local population.
At the last conclave, which was held in Rewa on October 23, the Madhya Pradesh government received investment proposals worth a staggering ₹31,000 crore. Major investments came from industries in renewable energy, wellness, food processing, and cement manufacturing. Companies like Sri Siddharth Infratech, Rithwik Projects Pvt Ltd, Patanjali Ayurveda, Ultratech Cement, and the Adani Group committed substantial amounts, with projects expected to generate over 28,000 jobs across the state.
Key investments from the Rewa conclave include:
– ₹12,800 crore by Sri Siddharth Infratech for renewable energy projects.
– ₹4,000 crore by Rithwik Projects Pvt Ltd for renewable energy development in Panna.
– ₹1,000 crore by Patanjali Ayurveda for wellness and food processing initiatives.
– ₹3,000 crore by Ultratech Cement for a new cement plant in Maihar.
– ₹2,528 crore by the Adani Group’s Mahan Energen Limited for coal block development in Singrauli.
The upcoming Narmadapuram conclave will focus on encouraging more investments across various industries in the region. The state government will continue to highlight its investor-friendly policies, which include land provision and expedited approvals to set up industrial units. These policies are crucial for turning Madhya Pradesh into an industrial hub, contributing to the state’s long-term economic development.
As Madhya Pradesh aims to build a robust industrial ecosystem, the conclave will once again provide a crucial platform for collaboration between the government and the private sector, paving the way for further industrial growth and job creation in the state.