Madhya Pradesh attracted investment proposals of ₹17,000 crore at Jabalpur summit: Mohan Yadav

Jabalpur: Madhya Pradesh Chief Minister Mohan Yadav during the inauguration of Regional Industry Conclave, in Jabalpur, on July 20, 2024.
| Photo Credit: PTI

Madhya Pradesh Chief Minister Mohan Yadav on July 20 said that the State had received investment proposals worth ₹17,000 crore at his government’s investor summit in Jabalpur, which was likely to generate over 13,000 employment opportunities. 

A modern skill development centre to attract investment in the textiles and readymade clothing sectors would be established in Jabalpur, Mr. Yadav said. 

The Regional Industry Conclave at Jabalpur also saw Ashok Leyland Limited and Armoured Vehicle Nigam Limited signing a ₹600 crore Memorandum of Understanding in the defence manufacturing sector. Mr. Yadav said that while cannons were already manufactured in the State, Army tanks would also be made in Madhya Pradesh now. 

Mr. Yadav also inaugurated 29 industrial units, and laid the foundation stone for 38 industrial units across the State with an investment of ₹1,500 crore, which is expected to create about 4,500 employment opportunities, according to a government statement. 

Other significant investment proposals include ₹1,500 crore from Volvo Eicher commercial vehicles in the automobile sector in Bhopal, and a cement unit in Damoh with an investment of ₹1,500 crore by by Heidelberg Cement. 

The government also issued land allotment letters to 265 units for 340 acres of land, which is expected to featch investments to the tune of ₹1,800 crore, and an estimated 12,000 jobs.

Earlier in January, a similar summit was organised in Ujjain, which saw the Adani Group announce investments of ₹75,000 crore in the State. 

The Madhya Pradesh government will also host similar summits in Rewa, Sagar and Gwalior cities in the coming months, and a larger global investors’ summit in Bhopal in February 2025.

Speaking at the summit, Mr. Yadav also said that India had surpassed Britain, which had ruled over it for 250 years, within 70-75 years of Independence. 

“It feels so nice to hear that we have become the world’s fifth largest economy in just 70-75 years after surpassing those who looted us for 250 years,” Mr. Yadav said.