GWALIOR: Much beyond the expectations of the Indian state of Madhya Pradesh, a total of 62 Memoranda of Understanding (MoUs) worth 880.18 billion rupees ($22 billion) were signed during a two-day Investors’ Meet held on Tuesday and Wednesday in this historic town.
The amount exceeds the expectations of the state government, which was hoping to net MoUs worth 27.43 billion rupees ($700 million). Thirteen MoUs worth 321.14 billion rupees ($8.02 billion) were signed on the fist day and 49 MoUs worth 558.77 billion rupees ($13.96925 billion) were signed and on the second day.
Of these, 29 MoUs worth 424.65 billion rupees ($10.61 billion) were signed in the industrial sector, one MoU worth 20 billion rupees ($500 million) was signed for SADA, six MoUs worth 403.4 billion rupees ($10.08 billion) were signed in the energy sector, 19 MoUs worth 14.03 billion ($350.75 million) were signed in the food processing sector, two MoUs worth 6.1 billion rupees ($152 million) were signed in the IT sector and five MoUs worth 12 billion rupees ($300 million) were signed in the higher education sector.
On the opening day, the government succeeded in roping in Japanese investors to the state through which India’s mega project — the 1,483 km Delhi-Mumbai Industrial Corridor (DMIC) — will pass through. Madhya Pradesh will have four nodes adjoining the DMIC — Mhow-Pithampur-Dhar, Ratlam-Nagda, Shajapur-Dewas and Neemuch-Nayagaon — which will be developed as mega industrial estates. Investments worth $9 to $10 billion are expected on completion of the project. The DMIC would pass through six states — Madhya Pradesh, Rajasthan, Maharashtra, Gujarat, Haryana and Delhi.
