“MP NOT HIT BY THE SLUMP”: KAMAL NATH
The nine-month-old KAMAL NATH government in Madhya Pradesh is planning to hold its first business summit at Indore in October. Nath, a former Union commerce minister, has been credited with bringing in industry to Chhindwara, his Lok Sabha constituency for the past many decades. He now has the task of doing the same for the state. The chief minister spoke to Rahul Noronha about his plans. Excerpts:
Q. The MP government is about to hold ‘Magnificent Madhya Pradesh’, its first business summit since you took over. In the past, you have been critical of such initiatives, even termed them futile. What has changed now?
It’s not similar at all. For the past 10 years, we’ve had investor summits at which MoUs are signed for optics, and not one is ever fulfilled. Our concept is different. Today, MP’s location makes it a most attractive state. Being the heart of India, MP is surrounded by 60-65 per cent of the country’s population. With the new GST regime, this makes the state very attractive. The track record of investors must also be looked at. Who are our best brand ambassadors? It’s our existing large investors.
Q. How will you ensure that promised investments come through?
An investment is an article of faith, you cannot demand it. Unless the investor has trust in the government and the people of the state, it is not going to happen. That’s what we want to project. Here is a state that will place all investment proposals on fast track, we will do all the hand-holding needed. If a project in MP can be executed two years faster than in any other state, they will have two years of profit. We will have current investors speaking to potential ones. We will have sectorspecific sessions where issues and problems of investors will be discussed.
Q. India clocked a GDP growth rate of 5 per cent last quarter. The general sentiment is negative. How do you plan to beat the gloom?
There is a general depression in the country. Investment sentiment is down, even spending sentiment is down. I think the Union government needs to answer this. The good part is,
“MP IS THE HEART OF INDIA. ITS LOCATION, WITH THE NEW GST REGIME, MAKES IT VERY ATTRACTIVE”