The Governor of Madhya Pradesh, Shri Mangubhai Patel, Chief Minister Shri Mohan Yadav ji, all other esteemed dignitaries, ladies, and gentlemen!  

First of all, I apologise for the delay in my arrival here. The delay occurred because, when I arrived here yesterday, I realised that today, the 10th and 12th-grade students have their exams. The timing of their exams was clashing with my departure from the Raj Bhavan.  There was a possibility that if roads were closed due to security reasons, students might face difficulties in reaching their examination centres. To avoid any inconvenience for the students, I decided to leave Raj Bhavan only after ensuring that all students had reached their examination centres. Therefore, I intentionally delayed my departure by 15-20 minutes, which in turn caused some inconvenience to you all. I sincerely apologise to all of you once again.  

Friends,  

It is a matter of pride for me to welcome you all to this sacred city of Raja Bhoj. Many colleagues from various industries and sectors have gathered here today. Today's event holds great significance in the journey from a ‘Viksit Madhya Pradesh’ (Developed Madhya Pradesh) to a ‘Viksit Bharat’ (Developed India).  I extend my heartfelt congratulations to Mohan ji and his entire team for organising this grand event.  

Friends,

For the first time in the history of Bharat, the entire world is so optimistic about Bharat. Whether it is common people, economic experts, different nations, or global institutions—everyone has high expectations from Bharat. The comments made in the past few weeks have boosted the enthusiasm of every investor in Bharat. Just a few days ago, the World Bank stated that Bharat will continue to be the world’s fastest-growing economy in the coming years. A key representative of the OECD remarked that the future of the world is in India.  Recently, a UN organisation on climate change referred to Bharat as a superpower in solar energy. This institution also noted that while many countries merely talk, Bharat delivers results.  A recent report highlighted how Bharat is emerging as an excellent supply chain hub for global aerospace firms. Many see Bharat as the solution to global supply chain challenges.  I can quote numerous such examples that reflect the world’s growing confidence in Bharat. This confidence is also strengthening the confidence of every Indian state. Today, we can see and feel this optimism here at this Global Summit in Madhya Pradesh.  

Friends,

Madhya Pradesh is Bharat’s fifth-largest state in terms of population. It is one of the top states in agriculture and also ranks among the top five states in mineral resources. MP is blessed by the life-giving Maa Narmada. The state has all the potential and possibilities to become one of the top five states in the country by GDP as well.

Friends,

In the past two decades, Madhya Pradesh has witnessed a new era of transformation. There was a time when the state faced major challenges related to electricity and water supply. The law and order situation was even worse, making industrial development very difficult. However, in the last 20 years, with the support of the people, the BJP government in MP has focused on good governance. Two decades ago, investors were hesitant to invest in MP. But today, MP has positioned itself among the top investment destinations in the country. There was a time when poor road conditions made even bus transport difficult in MP. But today, MP is among the leading states in Bharat’s EV revolution. By January 2025, nearly 2 lakh electric vehicles have been registered in the state, reflecting a growth of about 90%. This shows that MP is rapidly emerging as an attractive destination for new manufacturing sectors. I congratulate Mohan ji and his team for declaring this year as the Year of Industry and Employment.

Friends,

In the past decade, Bharat has witnessed a boom in infrastructure development. I can confidently say that Madhya Pradesh has greatly benefited from this. The Delhi-Mumbai Expressway, which connects two of the country’s largest cities, passes significantly through MP. This means that, on one hand, MP is getting fast connectivity to Mumbai’s ports, and on the other, it is also connecting North Indian markets. Today, Madhya Pradesh has a road network of over 5 lakh kilometres. The state's industrial corridors are being integrated with modern expressways, ensuring rapid growth in the logistics sector in MP.

Friends,

Talking about air connectivity, the terminals of Gwalior and Jabalpur airports have been expanded. But we haven’t stopped there—MP’s extensive railway network is also being modernised. The state has achieved 100% railway electrification. The Rani Kamlapati Railway Station in Bhopal continues to impress everyone with its world-class design. Following this model, 80 railway stations in MP are being modernised under the Amrit Bharat Station Scheme.

Friends,

The past decade has been a period of unprecedented growth in Bharat’s energy sector. Especially in green energy, Bharat has achieved what once seemed unimaginable. In the last 10 years, over 70 billion dollars i.e., 5 trillion rupees, has been invested exclusively in the renewable energy sector. This has created over ten lakh jobs in the clean energy space just last year.  Madhya Pradesh has also greatly benefited from this energy boom. Today, MP is a power-surplus state, with an electricity generation capacity of around 31,000 megawatts, of which 30% comes from clean energy sources. The Rewa Solar Park is one of the largest solar parks in the country. Just recently, a floating solar plant was inaugurated in Omkareshwar.  Additionally, the government has invested 50,000 crore rupees in the Bina Refinery Petrochemical Complex, which will help establish Madhya Pradesh as a hub for petrochemicals.  To support this growing infrastructure, the MP government is backing it with modern policies and specialised industrial infrastructure. The state already has over 300 industrial zones, and large investment zones covering thousands of acres are being developed in Pithampur, Ratlam, and Dewas. This means that for all investors, Madhya Pradesh offers immense opportunities for high returns.  

Friends,  

We all know how important water security is for industrial development. To ensure this, we are focusing on water conservation on one hand and moving forward with a mega mission of river interlinking on the other. Madhya Pradesh's agriculture and industries will be major beneficiaries of this initiative.  Recently, work has begun on the Ken-Betwa River Interlinking Project with an investment of 45,000 crore rupees. This project will enhance the productivity of around 10 lakh hectares of agricultural land. It will also significantly strengthen water management in Madhya Pradesh.  Such initiatives will unlock huge potential in the food processing, agro-industry, and textile sectors.  

Friends,

After the formation of a double-engine government in Madhya Pradesh, the pace of development has also doubled. The central government is working shoulder to shoulder with the MP for the development of the state and the country. During the elections, I had said that we would work three times faster in our third term. We have already seen this speed in the first 50 days of 2025. This month, our budget was presented. In this budget, we have energised every catalyst for Bharat’s growth.  Our middle class is the largest taxpayer and also creates demand for services and manufacturing. Several steps have been taken in this budget to empower the middle class. We have made income up to 12 lakh rupees tax-free and restructured tax slabs. The RBI has also reduced interest rates after the budget.

Friends,  

The budget emphasises the creation of a local supply chain so that we can become completely self-reliant in manufacturing. There was a time when previous governments limited the potential of MSMEs, which prevented the local supply chain in Bharat from developing to its full capacity. Today, we are prioritising the development of an MSME-led local supply chain. The definition of MSMEs has been further improved, credit-linked incentives are being provided, access to credit has been made easier, and support for value addition and exports has been increased.  

Friends,

For the past decade, we have been accelerating major reforms at the national level. Now, reforms are also being encouraged at the state and local levels. I want to highlight the State De-Regulation Commission, which was mentioned in the budget. We have been continuously engaging with states. Over the past few years, we have reduced more than 40,000 compliances in collaboration with state governments. In recent years, around 1,500 outdated laws have been repealed which have lost their purpose. Our aim is to identify regulations that hinder the ease of doing business. The De-Regulation Commission will help create an investment-friendly regulatory ecosystem in the states.

Friends,

In this budget, we have also simplified the Basic Customs Duty structure. The rates for several essential industry inputs have been reduced. A time limit is also being set for the assessment of custom cases. In addition, new sectors are continuously being opened for private entrepreneurship and investment. This year, we have opened up several new avenues for investment, including nuclear energy, bio-manufacturing, critical minerals processing, and lithium battery manufacturing. This demonstrates the government's intent and commitment.

Friends,

Three sectors will play a crucial role in shaping Bharat’s developed future. These three sectors will create millions of new jobs. They are textiles, tourism, and technology. If we look at the textile sector, Bharat is the second-largest producer of cotton, silk, polyester, and viscose. The textile industry provides employment to millions of people. Bharat has a strong tradition, skilled workforce, and entrepreneurial spirit in textiles. Madhya Pradesh, in particular, is considered the cotton capital of Bharat. Around 25 percent of Bharat’s organic cotton supply comes from Madhya Pradesh. The state is also the largest producer of mulberry silk in the country. The famous Chanderi and Maheshwari sarees from here are highly popular and have been awarded the GI tag. Your investment in this sector will significantly help Madhya Pradesh’s textiles make a global impact.

Friends,

Apart from traditional textiles, Bharat is also exploring new avenues. We are promoting agro textiles, medical textiles, and geotextiles, which fall under the category of technical textiles. A national mission has been launched for this, and we have provided incentives for it in the budget. You must also be aware of the PM MITRA scheme, under which seven major textile parks are being developed across the country. One of these parks is being established in Madhya Pradesh, which will further boost the growth of the textile sector. I urge you all to take full advantage of the PLI scheme announced for the textile industry. 

Friends,

Just like in textiles, Bharat is also adding new dimensions to its tourism sector. There used to be a campaign for MP Tourism that said, “MP ajab bhi hai, Sabse Gajab bhi hai” (MP is unique and the most incredible). In Madhya Pradesh, there has been significant development in tourism infrastructure around the Narmada River and tribal areas. The state is home to many national parks and offers immense opportunities for health and wellness tourism. The mantra "Heal in India" is gaining global recognition. Investment opportunities in the health and wellness sector are continuously expanding, and that is why our government is encouraging public-private partnerships in this field. Bharat is also promoting its traditional treatments and AYUSH on a large scale. We are even offering special AYUSH visas. All of these initiatives will greatly benefit Madhya Pradesh as well.

By the way, friends,

Since you are here, I encourage you to visit Mahakal Mahalok in Ujjain. You will receive Mahakal's blessings and also experience how the country is expanding its tourism and hospitality sector.

Friends,

I have said from the Red Fort: "This is the time, the right time." This is also the right time for you to invest and expand investments in Madhya Pradesh. Once again, my best wishes to all of you.

Thank you very much.

DISCLAIMER: This is the approximate translation of PM’s speech. Original speech was delivered in Hindi.

***

MJPS/VJ/VK