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Mukesh Ambani to invest in Madhya Pradesh

The Reliance Group headed by Mukesh Ambani is planning to set up a global logistics hub in Madhya Pradesh to help the state governments efforts to exploit the state's industrial development potential.
Mukesh Ambani to invest in Madhya Pradesh

Chief Minister Kamal Nath and Reliance Industries Ltd (RIL) Chairman Mukesh Ambani met in Mumbai on Wednesday where the Madhya Pradesh CM invited Ambani to invest in new technologies in the state.

"This will boost trade and employment opportunities in the state," Kamal Nath said, adding that the venture would benefit both the state and the investor.

According to a government official, Ambani said that Jio data is used in Madhya Pradesh more than it's used in South Korea or the UK, and the network could be further channelled in fields such as crimes against women, crime investigation and control.

Like Amazon and Walmart, the Reliance Group could also set up a logistics hub in Madhya Pradesh, the official quoted the Reliance Chairman as saying. The group has already established similar facility in Mumbai and Bengaluru.

"Reliance is willing to invest in battery manufacturing for the energy storage sector and MP is on top priority for this," Ambani said.

He was replying to Kamal Nath's statement that Madhya Pradesh could be a centre of horticulture, food processing, data processing and energy processing.

The Chief Minister said that "our new investment policy will be different for every district according to its needs and capacity. The main basis of our new employment policy is to ensure increase in employment and economic activities."

Kamal Nath also said that trust is utmost necessary for investment.

He mentioned that he will gain the trust of the industrialists by meeting them and discussing ways to make suitable industrial atmosphere in the state.

The Chief Minister also had plans to meet Kumar Mangalam Birla of the Birla Group, Natarajan Chandrasekaran of Tata Group, Pawan Goenka of Mahindra & Mahindra Group, Praveer Sinha of Tata Power, Dilip Gour of Grasim, Harsh Goenka of RPG Group, Dilip Akhuri of ACC Cement, Yashwant Holkar of Ahilya Heritage Hotels and Amrish Patel of Narsee Monjee.

"Madhya Pradesh has a lot of opportunities to invest here. We have opportunities in every field, so I will discuss this with many industrialists and talk about how they can gain confidence in the state," Kamal Nath said.

"Since I am involved in investment myself, I know that this will create the future of our youth and increase economic activity in the state, which will increase employment opportunities. After discussing with the industrialists, I will try to know what they think and what our investment policy should be," he added.

The Kamal Nath-led government has introduced India Cements, HEG, Wonder Cements and Proctor and Gamble, attracting large industries such as Shri Ram Piston, with an investment of about Rs 6,000 crore and an employment potential of about 76 lakh direct jobs.

A Congress spokesperson said that Kamal Nath government's decision to make 70 per cent employment mandatory for the youth of the state for new industries will provide jobs and stop brain drain.

( With inputs from IANS )

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