Right time to invest in Madhya Pradesh: PM Modi at Global Investors Summit

Bhopal, Feb 24 (IANS) Prime Minister Narendra Modi on Monday inaugurated the Global Investors Summit here highlighting investment opportunities in Madhya Pradesh and urging investors to tap available potential in the state. Addressing the gathering, PM Modi said, “The Global Investors Summit in Madhya Pradesh is a commendable initiative. It serves as a vital platform to showcase the state’s immense potential in industry, innovation and infrastructure. By attracting global investors, it is paving the way for economic growth and job creation. Happy to see Madhya Pradesh emerge as a key hub for business and entrepreneurship."

PM Modi highlighted his government’s priority on doing away with redundant regulations.

He said his government is in talks with the states to soon form a de-regulation commission to pick those redundant regulations that hamper progress and come in the way of ‘Ease of Doing Business”.

The deregulatory initiatives have already seen significant progress, with the abolition of 40,000 redundant mandatory compliances to improve the ease of doing business.

The Prime Minister underscored the importance of the textile, tourism, and technology sectors in India's growth. He highlighted that India is a leading producer of cotton, silk, and viscose, with Madhya Pradesh being a major contributor. The state's Chanderi and Maheshwari sarees are renowned globally, and around 25 per cent of India's organic cotton is grown here. The establishment of seven textile parks, including one rapidly developing in Madhya Pradesh, presents lucrative opportunities for investors to capitalise on the state's textile potential, he said. The Prime Minister encouraged investors to explore the potential in Madhya Pradesh's health and wellness sector, with the government promoting public-private partnerships. He urged them to visit the temple town of Ujjain and experience the spirituality of Mahakal Lok. "This is the time and the right time to invest," he appealed to the investors.