PM Modi and Chouhan woo A production-linked incentive program?

Prime Minister Narendra Modi speaks to Madhya Pradesh Global Investors Summit2023, via video conference, in New Delhi on Monday, January 11, 2023.

Prime Minister NarendraModi, making an investment pitch for Madhya Pradesh, rephrased a successful M.P. To describe the State, Prime Minister Narendra Modi used a catchphrase from the past for a tourism campaign: “Ajab Ghazab Sajag (astonishingly alert)”.

The inaugural day of the two days Global Investors’ Summit (GIS), was a welcoming event for prospective investors. He shared his thoughts via video message that Madhya Pradesh is a great destination from faith and spirituality to tourism, education and skill development to agriculture.

McKinsey to Morgan Stanley, Modi used quotes from various international agencies to project an optimistic future for India’s economic growth. He said that India was poised to become the world’s third largest economy within the next 4 to 5 years. He pointed out India’s achievements in boosting ease of living and business by citing “strong democracy”, “young demography” and “political stability of India”.

Modi highlighted the production-linked incentives scheme, or PLI, which offered incentives of more than Rs2.5 million crore. He stated that the PLI program was key to making Madhya Pradesh a large pharma and textile centre. Since production has reached Rs4 lakh crore in different sectors, hundreds of crores of dollars have been invested in Madhya Pradesh.

“I call on investors to come to M.P. Prime Minister stated that the scheme’s maximum benefits should be taken advantage of.

Madhya Pradesh Chief Minister Shivraj Singh Chouhan greeted the participants and stated that the State had made a turnaround since Madhya Pradesh was a BIMARU State. This State recorded a growth rate today of 19.76% at current price, which is the highest among the nation.

“Earlier, Madhya Pradesh contributed 3.6% to India’s GDP. It has now increased by 4.6%. Our total Gross State Product (GSDP) was Rs15,000 crore at one time. It has now surpassed Rs12 lakh crore, he stated. He also stated that Madhya Pradesh’s goal was to be a $550 billion economic state by 2026-27.

The group was informed by Mr. Chouhan about Guyana and Suriname joining the 2023 GIS. He also mentioned Canada, Japan, Canada, Suriname, Suriname, Japan and The Netherlands. “Ambassadors from 33 countries, as well as business delegates from all 84 countries, have also been there,” he stated.

Several top industrialists addressed the attendees and delegates at this Brilliant Convention Centre, including Pranav Adani of Adani Agro Oil & Gas, Sanjeev Puri of the ITC Group, Rekha Menon from Accenture and Sanjeev Puri (from the Adani Agro Oil & Gas). M.P. was worth around Rs27,500 crore and Mr. Adani indicated that these projects are still in progress. The current projects in M.P. were worth Rs27,500 crore. They wanted to raise it to more than Rs60,000 crore.

“We operate in the power, cement and roads, as well as the agricultural processing, defense, and irrigation sectors. It is a pleasure to announce that, in addition to continuing our investments in all of these sectors, we will significantly increase our presence within M.P. We will be investing more than Rs60,000 crore in various projects and sectors as part of our commitment to India,” he stated.

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