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State Forward

Following Modis Gujarat Model, quite a few states, both BJP led and others have started to organise global investors meets. Andhra Pradeshs N Chandra Babu Naidu and Telanganas K Chandrasekhar Rao are trying their every bit to outmanoeuvre each other in the race to land every other top MNC in their state. West Bengal, known for its business un-friendly policies and land problems, has plans to host a global meet to attract investments. Karnataka Chief Minister Siddarmaiah invited Tamil Nadu based textile mills to set up shop in his state.

State Forward

With the economy showing signs of revival, spurt in activity is witnessed across India. Rising labour costs in China proves to be an opportunity for India to attract manufacturing contracts. The Make in India campaign is gaining pace and the time seems opportune to attract investments, both small and large. Every state has hard pinned the notion and are busy projecting their strengths and offerings to lure investors.

The makeover of Madhya Pradesh

Political heads and the administrative honchos from every other state are conducting roadshows across the nation and inviting both business leaders and the media to visit them. Madhya Pradesh recently held a Global Investors’ Meet in which it hosted the who’s who of Indian business along with 28 ambassadors and business delegations from 32 countries. The three-day convention attracted investments worth Rs 1.8 lakh crore for setting up projects in power, cement, telecom, petroleum, mining, food processing, fertilizer and other industries.  Also Rs 1.7 lakh crore investment by the Union government for setting up major projects in mining, steel and energy sectors and the establishment of smart cities have been proposed. The government has bent backwards to assure attractive land rates for companies that offer 50 per cent employment to the locals. Also on cards is a venture capital fund to support startups. MP’s initiative to create a land bank would be of particular attraction to industry, which finds it difficult to source land. Considered as a BIMARU state for its poor growth record till the turn of the decade, Madhya Pradesh has revamped its image and is marching ahead on the road to development.

West Bengal calls for attention

Yet another state that has come out with impressive plans is West Bengal. Labour issues and the bitter experience of Tata Motors have been black marks in the industrial scene of Bengal. Dr Krishna Gupta, Managing Director, West Bengal Investment Development Corporation, pointed to leading companies expanding their facilities in the state. West Bengal has drafted friendly policies to attract investments. Strategising its proximity to South East Asia and North East India, West Bengal boasts of low attrition rates among other states and decreasing labour strikes. “Bengal’s investor-friendly policies have led to attracting Rs 135,000 crore worth of investment proposals in the last three years. Of this Rs 80,000 crore of investments are at various stages of implementation,” said Dr Gupta. The main sectors include cement, steel, edible oil, food processing, gems and jewelry, textile, fertilizer, CBM, plastics... “In the context of the Make in India campaign, the Bengal Global Business Summit slated for 6 - 8 January 2015   assumes significance,” said Dr Gupta. The Summit aims to attract both global and domestic delegates.

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