150 firms propose to invest Rs 4,000 crore in Indore & Dewas

INDORE: Around 150 industries have proposed investment of around Rs 4,000 crore in Indore region since beginning of the year, industry department said.
In past seven months till July, 150 industries have proposed to pump in fresh investment at different industrial belts of Indore and Dewas.
Madhya Pradesh Industry Development Corporation (MPIDC) Indore head Kumar Purushottam said, “Around 150 industries have so far proposed investments this calendar year.All of these firms have been allotted land in various pockets of Indore region.”
The proposed investment figures also include proposal for expansion by existing facilities.
Among new industries, most firms are into pharmaceuticals, packaging, food processing and engineering goods.
Around three new packaging industries have purchased land in the region with proposed investment of Rs 100 crore. A pharmaceutical firm operational from Dewas is expanding operations on 20 acre.
According to industry department, one primary demand of investors is fully developed areas and connectivity for better business opportunities and growth.
Investments in FY 2018/19 was around Rs 9,000 crore while in 2017/18 the region had attracted investments of Rs 7,000 crore, according to industry department.
The most sought after industrial belt in Indore is Pithampur that is currently houses around 1,200 industries with an investment of more than Rs 45,000 crore. Though the belt is fully occupied, industry department has begun land polling to expand industrial belt aiming to accommodate more players.
Industries have also been demanding to withdraw sunset clause from Special Economic Zone that restricts tax benefits to only those industries that gets operational before March 2020. As per clause, exemption for income tax at multi-product SEZ at Pithampur is restricted to companies that get operational by 2020.