Bhopal is poised to create a new global identity of industrialisation from today onwards beyond its tragic past of gas leak disaster, said Madhya Pradesh chief minister Mohan Yadav at the Invest Madhya Pradesh - Global Investors Summit (GIS) 2025. He also announced that the state's economic growth is set to double in the next five years.
"When we search about Bhopal on Google or any global platform it primarily reminds us of the tragic past. But today Bhopal is going to build a new global identity through this summit," said Yadav during his inaugural speech.
"In the next 5 years, MP will increase its economic growth by two folds," he added.
The MP government is hosting GIS for the first time in its capital and first summit since Yadav assumed office. MP is also observing 2025 as the year of industry and employment, reinforcing its commitment to fostering an investment-friendly environment.
As a part of this commitment, Yadav also announced 18 new investment policies, some of which are upgrades to existing frameworks.
"Our goal is to align the industry requirements with the development of the state. Keeping some emerging sectors in mind as well, we have kept these policies simple, investment-friendly and relevant," Yadav said, emphasizing the government’s focus on effective implementation and ease of doing business.
Among the key reforms, the MP government streamlined permissions for setting up hotels and resorts, reducing the required clearances from 30 to just 10. They have also allowed companies to set up skill centers and dormitories for workers, among others, in industrial lands other than industrial purposes.
MP has also introduced some new policies dedicated to high-growth sectors including semiconductors, foreign direct investments (FDIs) and drone system.
Highlighting the state's economic strength, Yadav noted that MP ranks among the top five largest states in India in absolute economic terms.
Speaking to journalists on the sidelines of the event, MP chief secretary Anurag Jain informed that the state will provide 25% more subsidy for semiconductor investments in addition to the Centre, making it the most competitive destination in this sector.
