Assocham plans to attract Rs 75,000 cr investments in Gwalior

Apex industry body Assocham is charting out a plan aimed at attracting an investment of Rs 75,000 crore in Madhya Pradesh's Gwalior district.

"We are preparing a blueprint for the development of Gwalior district," Assocham secretary general D S Rawat told reporters here today.

"Under the development plan to be unleashed on February 20, we will try to attract Rs 75,000 crore investments in the region," he said.

Assocham will work on attracting investments in sectors like chemicals, container & cargo, food processing, handicrafts, handloom, information technology, light engineering, real estate, stone cutting, tourism and others, he said.

The industry body wants to generate over 50,000 direct and indirect jobs in Gwalior, he said.

Right now, poor infrastructure has crippled the industrial development of Gwalior, which has significant growth potential, Rawat said.

Throwing light on investment scenario, he said that live investments worth over Rs 39,700 crore were made in Gwalior, which accounts for 7 per cent of the total Rs 5.6 lakh crore worth live investments attracted by Madhya Pradesh in 2013-14.

However, Gwalior has remained ahead of the state in terms of growth registered in industry sector. The district clocked a Compounded Annual Growth Rate (CAGR) of about 9.7 per cent as against 8.4 per cent achieved by the state last year.