Tokyo [Japan], January 28 (ANI): Madhya Pradesh Chief Minister Mohan Yadav met with Toyota delegations in Tokyo on Tuesday and held discussions with them about funding alternatives within the state, highlighting the potential and facilities of the state.
Madhya Pradesh affords a large industrial land financial institution of greater than 1 lakh acres with decrease land prices and working prices. It is likely one of the main states in automotive manufacturing with the second largest producer of buses and tractors and third largest producer of business autos, in response to an official assertion of Principal Secretary, DIPIP, (Department of Industrial Policy and Investment Promotion).
It additional highlighted that there are over 2,800 plus engineering producers, together with 30 OEMs (Original Equipment Manufacturer) and 200 auto part producers within the state.
Madhya Pradesh is ranked first in Good Governance Index 2021 (Group B States). It is a house to NATRAX, Asia’s longest high-speed testing monitor with 14 check tracks and 5 auto-specific labs. MP is positioned as a premier hub for industrial autos and farm gear.
Additionally, Madhya Pradesh is rising as an automotive hub and it affords central and strategic location, expert manpower and world-class infrastructure and supportive insurance policies attracting 52% development in industrial investments (2020-2024). India’s EV market, projected to develop at 49% CAGR (2022-2030), affords immense alternatives. MP is well-prepared to guide this shift, the assertion additional added.
Furthermore, through the assembly, additionally they showcased the power of Madhya Pradesh to put money into the sector. Madhya Pradesh affords ease of Business, mentioning high Achievers in 2022. It has a well-integrated world provide chain, MP hosts manufacturing models of main worldwide OEMs, enabling direct exports to worldwide markets. Presence of corporations like Volvo Eicher exporting world class engines globally.
Madhya Pradesh gives cost-effective operations akin to inexpensive land, low-cost expert workforce, and sturdy home market. It has a robust coverage framework with upto 40% capital subsidy, it added.
Along with this, Madhya Pradesh’s present and proposed industrial areas have been additionally introduced to note which incorporates key auto clusters within the state. Pithampur in Indore district about DMIC (Delhi-Mumbai Industrial Corridor) alignment, SEZs, and connectivity by way of rail and highway. Key gamers embrace Force Motors, MahindraMahindra, Volvo Eicher Commercial Vehicles, Bridgestone. Growing auto-component hub with MMLP for logistics.
Mandideep within the MP’s capital Bhopal is a rising auto-component hub. Dewas close to Indore district is a complementary cluster to Pithampur, specializing in part manufacturing. Similarly, Gwalior area focuses on MSMEs within the auto-component sector, benefitting from state incentives.
Apart from it, MP’s exports and Global Potential was additionally highlighted mentioning the state exported vehicles and auto elements value USD 191 Mn in FY24 to 200 international locations. MP affords a aggressive benefit in integrating with world provide chains.
MP gives key incentives which embrace as much as 40 per cent funding help for plant and equipment and employment era incentives as much as 1.5 instances. Similarly, export advantages as much as 1.2 instances and infrastructure growth help, rebates on energy tariffs and electrical energy obligation exemptions and clear, investor-friendly processes with on-line calculators.
Additionally, in a put up on X, CM Yadav wrote, “During an engaging interactive session discussed potential trade ties with Toshiyuki Nakahara, Department General Manager, Administration and Support Department, India and Middle East Division and Masahiro Nogi, Project General Manager, Administration and Support Department, India and Middle East Division, Toyota Motor Corporation. We explored the abundant opportunities Madhya Pradesh offers, including vast land, a skilled youth workforce, excellent infrastructure and a rapidly growing automobile sector.”The Chief Minister additionally burdened that Madhya Pradesh stands as a really perfect vacation spot for Toyota to ascertain services and put money into enhancing youth coaching in technical jobs.
Earlier, Chief Minister Mohan Yadav arrived in Tokyo on Tuesday morning on his four-day go to to Japan and obtained a heat welcome by Ambassador of India to Japan, Sibi George on the event.
CM Yadav additionally held a dialogue with the Indian Ambassador to Japan at a lodge in Tokyo, specializing in strengthening the India-Japan relations and lifting the commerce and financial collaboration between Madhya Pradesh and Japan.
The Chief Minister expressed gratitude on receiving the nice and cozy welcome and mentioned that he was trying ahead to holding significant one-to-one discussions with main industrialists, inviting the Global Investors Summit (GIS) 2025 to be held in Bhopal subsequent month on February 24-25.
“Namaste Japan! I am deeply honored to have received a grand and traditional welcome from our vibrant Indian community and here in Japan, marked by a ceremonial tilak and the presentation of a traditional turban. During this visit, I look forward to engaging in meaningful one-to-one discussions with leading industrialists, inviting them to join us at the Global Investors Summit 2025,” the CM mentioned in a put up on X.
The GIS 2025 is scheduled to be held on February 24-25, 2025, in Bhopal. The two-day program might be organised aiming to spotlight the funding local weather and industrial infrastructure of Madhya Pradesh, providing quite a few alternatives for potential collaborations.
It will function a platform for world leaders, industrialists, and specialists to share insights on rising markets and developments, and to discover methods to leverage the funding potential of Madhya Pradesh.
Japan will take part as ‘Partner Country’ in “Invest Madhya Pradesh – Global Investors Summit 2025” (ANI)