Investors’ keep cards close to chest on Day 1 of MP GIS

INDORE: Madhya Pradesh government’s Global Investors Summit saw a galaxy of business leaders gather on a platform to explore investment opportunities in the state, but little did they disclose the quantum they plan to invest in the state.
The industrialists kept the cards close to their chests, while lauding chief minister Shivraj Singh Chouhan for his proactive role in securing investment and ushering development.
Hinduja Group co-chairman Gopichand Hinduja claimed that he has set up a team of his top officials to keep an eye on investment possibilities in the state, but asked the state to create an SPV to usher development in the infrastrcutre sector, which he was eyeing.
The investors’ move to keep the information about their investment plans under wraps received a cheeky comment from Patanjali group founder Baba Ramdev, who took a dig at Hinduja. “Patthe ne itna ghee pee liya, itna lamba bhashan diya, par yeh nahin bataya kitna investment karega (he had a lot of ghee, gave a long speech, but did not divulge the amount of investment he plans in Madhya Pradesh).”
However, Ramdev, who plans to start an herbal products and food processing units in Madhya Pradesh, also did not reveal the investment plans.
Instead he said that he will ensure that farmers get direct returns of Rs 10,000 crore and offer jobs to 10,000 people.
Ramdev’s Patanjali was recently given 45 acre land for his projects. Pointing at principal secretary industries Mohd Suleman, he said “with 45 acre land, I can only play kabbaddi.”
The inaugural session of the GIS saw Aditya Birla group chairman Kumarmangalam Birla announce plans to push Rs 20,000 crore investment by expanding the Ultratech Cement plant, develop new greenfield projects and invest in garments and solar energy sectors.
Trident Group chairman Rajendra Gupta claimed that he will expand the existing textile unit and invest Rs 2500 crore, while providing jobs to 25,000 persons.
The session also saw Sun Pharmaceuticals managing director Dilip Shanghvi divulge plans to invest in research sector. Essar group chairman Shashi Ruia and ITC Ltd COO Sanjiv Puri talk about prospects in Madhya Pradesh.