Madhya Pradesh pharma sector attracts investors, Health News, ET HealthWorld

BHOPAL: Despite the pandemic, Madhya Pradesh continued to receive proposals for investment — most of them in the pharma sector. Though they are in the early stages, work is in progress to ensure their implementation, said government sources.

In the last one month, two major projects have become operational near Bhopal — which includes Rs350 crore Eicher Volvo commercial vehicle plant at Bagroda industrial estate near Bhopal and Rs250 crore manufacturing unit of Pipe and Coating facility established by the Welspun Corporation Limited at Jamunia Khejda Industrial Estate in Raisen district last week.

Government sources said, as many as 75 ‘Intensions to Invest’ — each over Rs10 crore — were received during the last few months. “ In all, they are worth about Rs1,400 crore and may generate employment for over 27,000 persons,” said the source, adding the proposals are at a very early stage and most of them are from the pharma sector. These include companies like Cipla (Rs500 crore), Dabur — which wants to set up its pharma and FMCG units in Pithampur and Mylan’s labs which is interested in SEZ Indore.

Besides, Capitalfoods has also shown interest in investment. Some auto parts companies including Jamuna auto are also planning to invest in the state, sources said. Dalmia Cements is also planning a unit near Satna, already a major hub for the cement industry in Madhya Pradesh. Recently, in September this year, Madhya Pradesh has improved its ease of doing business ratings also.

The state has jumped from 7th to 4th position in the ease of doing business rankings. Later, industry minister Rajyavardhan Singh said, “This would help attract investment and MP will be able to compete with other industrial states.” In yet another recognition of its efforts to create a pro-investment industrial atmosphere, Madhya Pradesh was rated as the top performer in the investment promotion in the state by the investment promotion agency (IPA) survey conducted by “Invest India” and the Department for Promotion of Industry and Internal Trade (DPIIT). The ratings were announced on December 20.

Following this, the chief minister Shivraj Singh Chouhan said that it was a matter of pride for the state to have emerged as the leading state of India in the field of investment promotion and added “this is an important step towards ATMA Nirbhar Madhya Pradesh”.

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