MP has attracted live investments worth only Rs.6 lakh cr

Despite being the second largest state of India, Madhya Pradesh could attract only about 816 live investment projects worth just about Rs.6 lakh crore out of the total of over 17,000 such projects worth over Rs.141 lakh crore announced across India, said ASSOCHAM.
“The implementation of investments in MP has been quite poor as about 33 per cent of investments are in the announcement stage while about 60 per cent of investments are under different stages of implementation and implementation of projects involving 0.7 percent of total investments has been stalled due to various reasons,” said Anil Aggarwal, Chairman, the Madhya Pradesh Council of The Associated Chambers of Commerce and Industry of India (ASSOCHAM) while jointly releasing the chamber’s strategy paper titled ‘Realising the Growth Potential of Madhya Pradesh’ along with D. S. Rawat, National Secretary General, ASSOCHAM.
With about 428 projects, MP has attracted over Rs.2 lakh crore of the total live investments worth over Rs.57 lakh crore announced by all government sources including both central and state governments. Besides, the state has attracted over 370 projects worth over Rs.3.8 lakh crore out of the total over 9,900 projects worth over Rs. 83 lakh crore announced by domestic and foreign private sources.
There has been an increase of about 6 per cent in the value of live investments announced in the state, as MP had attracted about 856 investment projects worth over Rs. 5.5 lakh crore as of December 2011 which had increased to over Rs.5.8 lakh crore with 816 investment projects.
ASSOCHAM has also suggested the MP Government to develop a sea port on Gujarat coastline in partnership with the business community by providing a complete chain of logistics to the traders on a preferential basis to further develop MP as a lucrative business destination for both domestic and foreign investors.

13