24 Companies Propose ₹5,500 Crore Investment In Gwalior TMZ: Scindia

Union Minister Jyotiraditya Scindia on Sunday said 24 companies submitted investment proposals amounting to ₹5,500 crore for the proposed Telecom Manufacturing Zone (TMZ) in Madhya Pradesh's Gwalior, which will be Asia's first telecom manufacturing zone.

After inspecting the land identified for the proposed TMZ at Shrimant Madhavrao Scindia Counter Magnet City (SADA), the Union minister for Communications and Development of the North Eastern Region said around 18,000 jobs are expected to be created under the project.

Gwalior is set to emerge as a major telecom manufacturing hub in the country. The upcoming TMZ will become Asia's first telecom manufacturing zone, he said in a statement.

"This is not merely the establishment of an industrial unit, but a major step towards developing a complete industrial ecosystem of 24-25 manufacturing units linked to the telecom sector in Gwalior. These units will manufacture telecom equipment and various other devices," Scindia said in a statement.

He said investor interest is so high that applications exceeded the currently available land.

"In such a situation, additional land will be identified for expansion of the first phase of the TMZ and land allocation will be increased as required," he said.

The Centre and the Madhya Pradesh government signed a memorandum of understanding (MoU) in July 2026 for setting up the TMZ.

Subsequently, investor roadshows were held in Delhi and Mumbai in August under the leadership of Scindia and Chief Minister Mohan Yadav.

According to the statement, companies expressed investment commitments of around Rs 3,500 crore at the Delhi roadshow and ₹2,000 crore at the Mumbai roadshow.

Scindia also said the investment proposals are not merely verbal commitments.

"Companies that showed interest in investing were asked to participate in the application process at the time of land allotment itself. As a result, 24 companies have started the application process for the TMZ," he said.

The Union minister appreciated the special incentives being offered by the Madhya Pradesh government for the project and said connectivity, infrastructure and skilled human resources are among Gwalior's biggest strengths.

"An around 120-km Agra-Gwalior high-speed corridor is being developed to connect Gwalior with Delhi and major markets in North India. This connectivity will bring Gwalior closer to major industrial and commercial centres," he said.

Scindia further said the Centre, the state government and concerned departments are ready to provide investors with the necessary support to set up industries in Gwalior.

The Union minister will travel to Bengaluru on September 22 for a roadshow with telecom sector investors.