MP Govt calls on investors in electronics and IT

The Madhya Pradesh government has geared up to explore new possibilities of investments, availability of manpower and IT infrastructure required for the upcoming IT investments in the state.

Low cost of operations, cheaper land, availability of quality manpower, low cost of living and good social and physical infrastructure are few examples that will attract IT industries to invest in Madhya Pradesh said J. Satyanarayana, Secretary, Department of Electronics & Information Technology, Government of India in IT Investors Meet - Experience Madhya Pradesh Focus: Gwalior Park organized by PHD Chamber of Commerce and Industry in Delhi.

In the recent years IT / ITES companies for tier II investment destinations; Bhopal, Indore and Gwalior in Madhya Pradesh have gained the status of ideal destinations for the investors who are keen to invest in the state he added.

J. Satyanarayana further urged new players of IT and members of PHD Chamber to become partners of the State and walk hand in hand with the Government of Madhya Pradesh for placing it on the Global IT map.

Suman Jyoti Khaitan, president, PHD Chamber of Commerce and Industry said IT industry has not only transformed India's image on the global platform, but also fuelled economic growth by energizing higher education sector (especially in engineering and computer science). The industry has employed almost 1 Crore Indians and hence, has contributed a lot to social transformation in the country.
India's IT and BPO sector exports are expected to grow by 12-14 % in FY14 to touch $ 84 billion - $ 87 billion, according to Nasscom added Khaitan.

Suman Jyoti Khaitan further added that State Government is committed for overall development of IT industry in the state with specialized focus on Gwalior, Indore, Bhopal and Jabalpur for the development and promotion of IT investment.

Hari Ranjan Rao, secretary, IT, Government of Madhya Pradesh and managing director, MP State Electronics Development Corporation shared the detailed IT - Scenario in Madhya Pradesh and invited all the IT companies present in the meet to Gwalior.

He further added that city not just has the infrastructure and availability of land but also has large talent pool of workforce; excellent R&D facilities for IT industry, robust policy incentives to support the industry and above everything else can offer a quality life with work-life balance. He also assured people of the personal safety in that place he added.
P.Narahari, district collector, Gwalior, Madhya Pradesh while addressing the Meet highlighted the upcoming IT parks in his city and ensured Investor friendly administration for all the potential investors in the IT sector.

He also mentioned the advantages that state can offer to the investors who were present in the PHD Chamber. Low Cost of living with all the facilities of tier-1 cities are available, good residential colonies, multistoried apartments, secured residential Complexes are some other that keep on attracting investors.

City also has ample facilities for recreations like malls multiplexes, fun parks, water Sports and Picnic spots.

L K Tiwari, Additional Chief General Manager Madhya Pradesh State Electronics Development Corporation Ltd said Electronic Hardware Manufacturing industry is eligible for all incentives available under IT Policy and stressed the members of PHD Chamber who deal in electronics will love to invest.

The Incentives will be in addition to the incentives available under EMC Scheme.

He further laid stress on financial incentives in investing in the state. The reimbursement of central taxes and duties (like custom duties, excise duties and service tax) for 10 years in select high-tech units like fabrics, Semiconductor Logic and Memory chips, LCD fabrication will be considered.
Mr. Sanjeev Gupta, Chairman, IT Committee, PHD Chamber of Commerce & Industry congratulated the government officials for simplifying the process of investing in Madhya Pradesh. The harmony between industry and government officials will be beneficial for the investors and IT sector will create better job opportunities he added.

The development and infrastructure opportunities in smaller cities of Madhya Pradesh will be beneficial for both large and small investors and local living in the city.

He further added, Madhya Pradesh has registered continuous increase in per-capita income for the last seven years. During the current financial year the per-capita income of the state is estimated to be up by 8.69 percent. During the said period, Madhya Pradesh's Gross State Domestic Product (GSDP) has risen by 96 percent while a massive increase of 284 percent has been registered in per capita income. The 12 percent economic growth rate achieved by Madhya Pradesh during year 2011-12 is, in fact, largely attributable to the strides in agriculture and construction sectors. While the agriculture growth rate was 18 percent the growth rate in construction sector was 16.69 percent.