Investments in Madhya Pradesh go beyond paperwork: CM Mohan Yadav in Davos
What is Madhya Pradesh’s big pitch to foreign investors at the WEF and what was their reaction?
Everyone wants to connect with India. As India’s growth progresses under the leadership of Prime Minister Narendra Modi, the country has come a long way. India was the 11th largest economy; now in fourth place. It will be the third in two years. And in the next 25 years, India will be among the leaders of the world.
Madhya Pradesh wants to play the most important role in this progress. We have prepared our plan and we are determined to do it. We also cooperate with other states; For example, we distribute electricity with Uttar Pradesh. Thus, we ensure regional accessibility as well as economic growth.
Many Indian states are taking part in the WEF. What is the biggest difference for foreign investors in MP?
The state has the largest mining area in the country. Law and order are completely under control. Our people are peace-loving and do not hinder positive development. MP is home to Asia’s thickest coal seam and is India’s only diamond-producing state. With eleven agro-climatic zones and the largest forest cover in India, the state is among the leading producers of food grains, pulses, oilseeds, vegetables and fruits.
The state lies on India’s main North-South corridor trunk line, making it a natural logistics and manufacturing hub. Four major industrial and economic corridors – Delhi-Nagpur Industrial Corridor, Atal Pragati Expressway Industrial Corridor, Narmada Expressway Industrial Corridor and Indore-Pithampur Economic Corridor – are being developed.
What policies have you implemented to make MP the growth engine of the country?
Investments in MP go far beyond paperwork and progress through time-bound approvals, ready-made industrial ecosystems, and clear and effective enforcement mechanisms. The state adapted to national-level reforms and moved quickly to remove bureaucratic obstacles.
As part of a comprehensive industrial growth plan, we have implemented 18 policies for various sectors to make things easier for businesses. MP has an industrial land bank of over 500 square kilometers (about 1.25 lakh acres). Industrial areas can access more than 1,000 million cubic meters (mcm) of industrial water and 24-hour reliable power supply at competitive tariffs.
How is your state implementing the Centre’s deregulation drive?
We decided that investors didn’t need to chase after authorities or navigate layers of approvals. MP took the lead and implemented all measures as recommended. Whenever the Indian government brought reforms, we quickly implemented them. Look at labor reforms. We have already implemented these. Women are allowed to work 24/7.
If there is a deficiency in our state policies, we will correct it immediately. We continue to change regulations at the state level to attract job-creating industries by offering them different benefits. We have a single window approval system.
How is MP’s green energy push going?
We are making progress in every aspect of green energy. The state is working on solar, wind and storage projects, including decentralized units, as well as conventional energy, to meet the growing demand for electricity. The power capacity additions will help the state meet the need to add infrastructure, particularly data centers, as well as supply to other states. We protect forests and comply with all rules. The state is also investigating the possibility of methane gas escaping from cow barns.
Madhya Pradesh is the state partner of ET House in Davos
