Madhya Pradesh is gearing up for the Global Investors Summit (GIS) with high expectations of attracting significant investments. Prime Minister Narendra Modi will be present as top industrialists from across the country sign multiple agreements with the state government. Over the past year, Madhya Pradesh has emerged as a preferred destination for investors, reflecting its growing economic appeal. In one year, through 7 regional summits and 6 roadshows in the country and abroad, the state received investment proposals worth 4.81 lakh crore. Meanwhile, in the year 2019-20, investment proposals worth 74,000 crore came through Magnificent MP. Similarly, in the Global Investors Summit 2022-23, MOUs worth 15.40 lakh crore were signed. However, the big question remains whether these MOUs will translate into actual investments. In the past 5 years, investment proposals worth 20 lakh crore were received. Out of these, not even 10% materialized on the ground. Even in these 7 regional summits, only 25 to 30% of investment proposals reached the groundbreaking stage. The rest of the process is ongoing. In the Magnificent MP Summit, the claim of 74,000 crore investment dwindled to less than 10% by the time it materialized on the ground. What is the difference between an MOU and 'Intention to Invest'? Often governments promote MOUs as investments. The truth is that an MOU is just an initial agreement. It is also called "Intention to Invest". It is not guaranteed that the investor will invest money. In the last 5 years, only 10% of the total MOUs have turned into investments. When the investment proposals received in 7 regional summits and 6 roadshows were reviewed in the Cabinet Committee for Investment Promotion (CCI-P), only 10 out of 109 were forwarded. Out of these, only 5 received approval. The total cost of these 5 approved proposals is only 1,246 crores. That is, only 0.33% are in a position to materialize on the ground. Same pattern in Gujarat-Rajasthan Only 10 to 15% are completed The tradition of big numbers in major investment summits is present in every state. In Gujarat, during the 'Vibrant Gujarat' investment summit held in January this year, MOUs were signed for 41,299 projects with an investment of 26.33 lakh crore. In Rajasthan, MOUs worth 35 lakh crore were signed in the 'Rising Rajasthan' of December 2024. However, in these states too, only 10-15% of the investments from previous summits have materialized on the ground. This time the numbers will change, we have learned from mistakes CII, working with the government in GIS, Madhya Pradesh Chairman Ashish Vaishya said, we have learned from past mistakes. This time, if we are signing MOUs, it will also be visible on the ground. The numbers will change. In the Gwalior Summit itself, a proposal of 8100 crores was received, out of which work on 7500 crores has progressed. Everything is mapped. As far as large investment figures are concerned, this will not happen this time. It is also true that 100% success is not achieved anywhere. Currently, there is a cheap land bank, water, and surplus power in MP. We have been working for a year. You will see that many changes will occur. Our entire effort is to bring the investment announcement to the ground. The regional conclave and road-show have been beneficial. Allotment of lands and ground-breaking ceremonies are happening simultaneously. I will not comment on what happened earlier.' Chandramouli Shukla, MD, MPIDC
