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MP investors' summit: NTPC, Dabur, Reliance & others pledge investments

2025-02-24 00:00:00.0 商业标准报-经济和政策原网页

Several major companies announced investment plans for Madhya Pradesh on the inaugural day of the Global Investors Summit 2025 in Bhopal on Monday (February 24). Leading names like Dabur India, NTPC, Reliance Industries, Adani Group, Avaada, Torrent Power, Power Finance Corporation (PFC), Rural Electrification Corporation (REC), and OPG Power Generation Pvt Ltd, stepped forward with promises to boost the state’s economy.

Investment roadmap

FMCG major Dabur India has pledged to invest Rs 550 crore over the next couple of years. CEO Mohit Malhotra highlighted that the company already has Rs 1,000 crore invested in Madhya Pradesh, making it their largest investment in India. He praised the state government’s policies, governance, and facilities like abundant water, power, and single-window clearance. Dabur plans to expand its manufacturing and filling lines, focusing on its core areas like Ayurveda and herbal products.

Similarly, Reliance Industries Ltd announced Rs 60,000 crore to set up biofuel projects in the state, marking its entry into Madhya Pradesh’s renewable energy sector. NTPC, a state-owned power giant, pledged Rs 1.2 trillion to build 2 gigawatts of renewable power capacity and an additional Rs 80,000 crore for two greenfield nuclear power plants.

？？？？？？？？？？？？？？？？ Global Investors Summit 2025 ？？？？？？？？？ "Departmental Summit: IT & Technology Summit" ？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？, ？？？？？？？？？？？？？？？, ？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？？… pic.twitter.com/H0QTexFFVb

— Dr Mohan Yadav (@DrMohanYadav51) February 24, 2025

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Besides, the Adani Group committed Rs 1.1 trillion for projects in pumped storage, cement, mining, smart meters, and thermal energy. Additionally, the group is in talks for another Rs 10 trillion investment in a greenfield smart city, an airport project, and a coal-gasification project. These investments are expected to create over 120,000 jobs by 2030.

Other notable commitments include Avaada’s Rs 50,000 crore for solar, wind, pumped hydro storage, battery storage, and solar module manufacturing, to be invested over the next three to five years. Torrent Power promised Rs 26,500 crore for renewable energy projects, while Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) offered lending support of Rs 26,800 crore and Rs 21,000 crore, respectively. OPG Power Generation Pvt Ltd committed Rs 13,400 crore for battery storage, small modular reactors, green hydrogen, and hybrid power projects. Sundev Renewables LLP founder and partner Sunil Jain on Monday expressed willingness to invest $500 million (over Rs 4,330 crore) over next five years to set up a 750 megawatt data center in Madhya Pradesh, provided it is green. The final investment figures may rise as the state government compiles a complete list by the summit’s end on February 25.

CII Report: Growth projection

A report by the Confederation of Indian Industry (CII), titled "Envisioning Madhya Pradesh Economy@2047," predicts a bright future for the state. It suggests that Madhya Pradesh could grow its economy 18 times, reaching $2.1 trillion (Rs 248.6 trillion) by 2047-48.

Starting from its current gross state domestic product (GSDP) of $164.7 billion (Rs 13.6 trillion), this growth would require an annual growth rate of 8.6 per cent. The report stressed on the need to focus on manufacturing and industrial expansion to achieve this ambitious target.

Time to invest in Madhya Pradesh: PM Modi

Prime Minister Narendra Modi, who inaugurated the summit, praised Madhya Pradesh’s potential. Speaking at the Indira Gandhi Rashtriya Manav Sangrahalaya in Bhopal, he said, “With a strong talent pool and thriving industries, Madhya Pradesh is becoming a preferred business destination. This is the time, and the right time, to invest in the state.” He highlighted the state’s growing appeal to investors and its role in India’s economic progress.

The summit showcased Madhya Pradesh’s readiness to welcome investments, setting the stage for economic growth and job creation in the years ahead.