Tokyo [Japan], January 28 (ANI): Madhya Pradesh Chief Minister Mohan Yadav met with Toyota delegations in Tokyo on Tuesday and held discussions with them about investment opportunities in the state, highlighting the potential and amenities of the state.
Madhya Pradesh offers a massive industrial land bank of more than 1 lakh acres with lower land costs and operating costs. It is one of the leading states in automotive manufacturing with the second largest manufacturer of buses and tractors and 3rd largest producer of commercial vehicles, according to an official statement of Principal Secretary, DIPIP, (Department of Industrial Policy and Investment Promotion).
It further highlighted that there are over 2,800 plus engineering manufacturers, including 30+ OEMs (Original Equipment Manufacturer) and 200+ auto component manufacturers in the state.
Madhya Pradesh is ranked first in Good Governance Index 2021 (Group B States). It is a home to NATRAX, Asia’s longest high-speed testing track with 14 test tracks and 5 auto-specific labs. MP is positioned as a premier hub for commercial vehicles and farm equipment.
Additionally, Madhya Pradesh is emerging as an automotive hub and it offers central and strategic location, skilled manpower and world-class infrastructure and supportive policies attracting 52% growth in industrial investments (2020-2024). India’s EV market, projected to grow at 49% CAGR (2022-2030), offers immense opportunities. MP is well-prepared to lead this shift, the statement further added.
Furthermore, during the meeting, they also showcased the strength of Madhya Pradesh to invest in the sector. Madhya Pradesh offers ease of Business, mentioning top Achievers in 2022. It has a well-integrated global supply chain, MP hosts manufacturing units of leading international OEMs, enabling direct exports to international markets. Presence of companies like Volvo Eicher exporting world class engines globally.
Madhya Pradesh provides cost-effective operations such as affordable land, low-cost skilled workforce, and robust domestic market. It has a strong policy framework with upto 40% capital subsidy, it added.
Along with this, Madhya Pradesh’s existing and proposed industrial areas were also brought to notice which includes key auto clusters in the state. Pithampur in Indore district about DMIC (Delhi-Mumbai Industrial Corridor) alignment, SEZs, and connectivity via rail and road. Key players include Force Motors, Mahindra & Mahindra, Volvo Eicher Commercial Vehicles, Bridgestone. Growing auto-component hub with MMLP for logistics.
Mandideep in the MP’s capital Bhopal is a growing auto-component hub. Dewas near Indore district is a complementary cluster to Pithampur, focusing on component manufacturing. Similarly, Gwalior region focuses on MSMEs in the auto-component sector, benefitting from state incentives.
Apart from it, MP’s exports and Global Potential was also highlighted mentioning the state exported automobiles and auto components worth USD 191 Mn in FY24 to 200+ countries. MP offers a competitive advantage in integrating with global supply chains.
MP provides key incentives which include up to 40 per cent investment assistance for plant and machinery and employment generation incentives up to 1.5 times. Similarly, export benefits up to 1.2 times and infrastructure development assistance, rebates on power tariffs and electricity duty exemptions and transparent, investor-friendly processes with online calculators.
Additionally, in a post on X, CM Yadav wrote, “During an engaging interactive session discussed potential trade ties with Toshiyuki Nakahara, Department General Manager, Administration and Support Department, India and Middle East Division and Masahiro Nogi, Project General Manager, Administration and Support Department, India and Middle East Division, Toyota Motor Corporation. We explored the abundant opportunities Madhya Pradesh offers, including vast land, a skilled youth workforce, excellent infrastructure and a rapidly growing automobile sector.”
The Chief Minister also stressed that Madhya Pradesh stands as an ideal destination for Toyota to establish facilities and invest in enhancing youth training in technical jobs.
Earlier, Chief Minister Mohan Yadav arrived in Tokyo on Tuesday morning on his four-day visit to Japan and received a warm welcome by Ambassador of India to Japan, Sibi George on the occasion.
CM Yadav also held a discussion with the Indian Ambassador to Japan at a hotel in Tokyo, focusing on strengthening the India-Japan relations and lifting the trade and economic collaboration between Madhya Pradesh and Japan.
The Chief Minister expressed gratitude on receiving the warm welcome and said that he was looking forward to holding meaningful one-to-one discussions with leading industrialists, inviting the Global Investors Summit (GIS) 2025 to be held in Bhopal next month on February 24-25.
“Namaste Japan! I am deeply honored to have received a grand and traditional welcome from our vibrant Indian community and here in Japan, marked by a ceremonial tilak and the presentation of a traditional turban. During this visit, I look forward to engaging in meaningful one-to-one discussions with leading industrialists, inviting them to join us at the Global Investors Summit 2025,” the CM said in a post on X.
The GIS 2025 is scheduled to be held on February 24-25, 2025, in Bhopal. The two-day program will be organised aiming to highlight the investment climate and industrial infrastructure of Madhya Pradesh, offering numerous opportunities for potential collaborations.
It will serve as a platform for global leaders, industrialists, and experts to share insights on emerging markets and trends, and to explore ways to leverage the investment potential of Madhya Pradesh.
Japan will participate as ‘Partner Country’ in “Invest Madhya Pradesh – Global Investors Summit 2025” (ANI)
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