Bhopal: Chief Minister Dr. Mohan Yadav also said that with just 13 days left for the Global Investors Summit (GIS) Bhopal, the event will help strengthen Madhya Pradesh’s startup ecosystem. According to him, GIS will provide a big boost to startups as the state is fast accruing strength as a hot hub for startups. The government will focus on innovation, entrepreneurship, and job creation and make Madhya Pradesh the ‘Center for Startups and Innovation.’
Entrepreneurs and investors from several countries will participate in the Global Investors Summit in Bhopal on February 24 and 25. It will give young entrepreneurs international exposure to technology and innovations. The startups are being given financial assistance of up to 18 percent of the total investment under the new startup policy. The government is also providing exemptions to mandatory license and permit fees and is also giving preferential treatment to start-up participation in government procurement for two years.
CM Yadav has also mentioned Madhya Pradesh’s immense potential in the global textile industry. It is the leader of the state in textile and apparel manufacturing; the whole value chain is from raw materials to job work and global exports. Madhya Pradesh contributes 43 percent to the organic cotton produced in India and 24 percent of the world’s organic cotton produced.
The state has also been producing over 200 tons of silk a year, which is why the silk industry is also expanding fast. The PM Mega Integrated Textile Region and Apparel Park (2050 acres) in Dhar will further strengthen the sector and offer world-class infrastructure to the textile and garment industries. It is hoped that this initiative will spark big investment and huge employment on a large scale, making Madhya Pradesh a powerhouse in the textile sector.
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