Don’t believe in signing MoUs, but being investor friendly: CMhttps://indianexpress.com/article/business/dont-believe-in-signing-mous-but-being-investor-friendly-cm-6076724/

Don’t believe in signing MoUs, but being investor friendly: CM

“This is an MP you can believe in and rely on. We walk the talk,” he said. He added that the state would become the economic tiger of India.

MP CM Kamal Nath, along with industrialists, at the summit.

‘Magnificent Madhya Pradesh’, the first investor meet under the current Congress government, ended on Friday with Chief Minister Kamal Nath refusing to divulge the quantum of investment proposed, saying he does not believe in “figures and MoU signing, but in creating an atmosphere favourable for investment”.

Inaugurating the summit at the Brilliant Convention Centre, the CM said the “the event is not a jamboree, not an MoU signing spree’’, adding he was not in favour of talking about proposals worth thousands of crores of rupees that do not result in actual investment or employment. “You know what was the result,’’ he said without elaborating about the previous investor meets under the BJP government.

He said he was ready to adopt unorthodox and unconventional ways to help industries if they convince that the benefits will go to people, generate more jobs and bring prosperity. Talking up the state for its central location in a post-GST world, he said no other state has the potential for logistics as much as MP.

“This is an MP you can believe in and rely on. We walk the talk,” he said. He added that the state would become the economic tiger of India.

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The CM later told reporters that industrialists were enthused by what the government had to offer. He claimed an Israeli company committed Rs 1,200-crore investment and checked a piece of land at 5 am. He claimed there was no slowdown in the state because the sale of automobiles and FMCG had increased. “If investment sentiment in the country has reduced, the Centre should think about it.’’ He repeated his previous announcement about a law to ensure 70 per cent employment to the local people. He said companies who want to set up business will not be asked any question for three years about the land, but “strict action will be taken if there is any illegality’’.

In a pre-recorded message, Reliance Industries Ltd Chairman and Managing Director Mukesh Ambani said he could not make it to Indore because he was occupied with a board meeting but promised to set up state-of-the-art national distributional centres, with over 1 million sq feet space across 45 locations in the state.

Godrej Group chairman Adi Godrej, Sun Pharma managing director (MD) Dilip Shanghvi, India Cements vice chairman and MD N Srinivasan, Vikram Kirloskar of Kirloskar Industries, Bharti Enterprises vice chairman Rakesh Bharti Mittal and ITC Chairman Sanjiv Puri were among the industrialists who spoke at the occasion.