Madhya Pradesh will Become a Supply Hub Post GST Implementation

Renowned as the heart of India, Madhya Pradesh will be turned out as a supply hub for the companies meant for transporting goods, posted implementation of GST in the country, Finance Minister Arun Jaitley said on Saturday.

“Hopefully next year with the implementation of GST, when India would become one consolidated market, there would be a free flow of goods and services across the country. This seamless flow will necessarily involve efficient supply chain. And no state is geographically better located than MP,” Mr. Jaitley said on the first day of the two-day meet of the 5th version of Global Investors Summit (GIS) organized by MP government.

Read Also: How will GST Affect the Distributor/Wholesaler?

At the summit, the MP government will present a report card to the global investor, revealing the total made investment against the signed investment assignments during the past four investor gatherings.

Here are some investments agreements signed by MP government includes, the first agreement of worth   $18.3 billion in 2007, next one was the just doubled investment of  $36 billion worth in 2010, in the last two meet, the government has signed agreement of $44 billion in 2012 and worth $66.1 billion in 2014.

The Madhya Pradesh has been listed as one of the fastest growing states in terms of earning an average annual growth of 9.5 per cent in  gross state domestic product (GSDP) from 2013 to 2015, while during 2015-16, the state government manages to attain 10.5 per cent growth rate  against country’s total growth of 7.3 percent.

At the ongoing summit, over 3,000 representatives present there out of which 500 are representing the only five countries like the UK, Japan, South Korea, Singapore and United Arab Emirates.