Madhya Pradesh global investor summit: 13.43 lakh jobs, ₹22.4 cr projects announced as Adani, Reliance and Hindalco step in

On Day 1 of the Global Investors Summit at Bhopal, Adani, Reliance and Hindalco have emerged as the potential big investors in the state with the promise of 13.43 lakh jobs. Total investments proposed so far amounts to ₹22.4 lakh crore.

The biggest investment proposed thus far is in the renewable energy sector. The Adani Group has proposed an investment ₹50,000 crore in thermal energy with a potential job generation of 60,000.

The conglomerate will also invest in cement, sewage, smart meter technology and mining, leading to creation of 1.2 lakh jobs. Another greenfield smart city investment plan will see an investment of ₹1 lakh crore.

Reliance Industries has proposed an investment of ₹60,000 crore in bio fuels. This is expected to create 1.2 lakh jobs. The group is also in talks for developing a greenfield smart city and invest in the development of the airport.

The focus on green energy ties in with the government's plans to provide at least 10 hours of uninterrupted power to farmers. The state produces 15 per cent of its power through renewable sources at present.

The Avaada Group has pledged to invest ₹50,000 crore in solar energy, wind energy, pump storage and battery storage over the next five years. These will be set up in some of the state's most under-developed regions like Malwa, Bundelkhand and Bhind.

Hindalco's investment of ₹15,000 crore is to go to aluminium smelting. The group already has a bigger investment of ₹25,000 crore in the state at present.

Another sector of great interest is the automotive and electric vehicles sector. An expo on the same is also part of the summit. With over 30 original equipment manufactures operating so far in the state, it is hoping to invite more.

The National Highway Authority of India will chip in by adding 4,000 km of roads with an investment of ₹1 lakh crore.