Haryana inks 38 deals worth Rs 1.28 lakh crore on day one

Gurgaon: Haryana has signed up for investments worth Rs 1,28,740 crore on the first day of the Haryana Global Investors Summit 2016 at Gurgaon on Monday. Projecting the state as one of the most progressive consumer markets with the ingredients of manufacturing and services, Chief Minister Manohar Lal has been able to generate commitments for big-ticket investments in the sectors of infrastructure, realty, solar energy, food processing and agriculture.

agreements inked on Monday, realty major M3M committed Rs 45,365 crore investment over 5-10 years in Gurgaon and other parts of the state. Of this, Rs 26,000 crore is to develop a smart city project in Gurgaon and Rs 9,000 crore is towards taking forward the Prime Minister’s ‘Housing for All’ project. The projects will have smaller size apartments and would be in the range of 30 to 60 square metres.

M3M will also develop an information technology (IT) park and IT special economic zone at a cost of Rs 2,000 crore. IT companies operating out of these facilities are expected to employ between 40,000 and 50,000 people.

Wang Juanlin, chairman of Wanda Group, was also present on the occasion. Earlier this year, Wanda Group had signed a deal with Haryana State Industrial and Infrastructure Development Corporation during the visit of a high-profile delegation led by Manohar Lal to set up a world-class realty project worth $60 billion in Sonipat district.

ICICI Bank signed the intent to invest Rs 15,000 crore in the state’s financial sector.

Despite the vast potential for food processing in the state (55 per cent of Haryana’s population thrives on agriculture and allied activities), only three proposals aggregating Rs 4,510 crore were confirmed.

Real estate remained the top choice of investors, followed by infrastructure where investments amounting to Rs 36,994 crore have been promised.

An investment of Rs 710 crore by Swiss International Hotels has been proposed in the tourism sector.

Rajiv Singh, vice-chairman of DLF, announced that the group plans to invest Rs 20,000 crore in various projects in the next five years and Haryana would be one of the investment destinations for the group.

Mahindra & Mahindra Group also evinced interest in Haryana. It wants to invest in two industrial parks.

Medanta Healthcare looks to invest in a medical school and another 1,000 beds over the next five years in the state.

Over the past few years, Gurgaon has emerged an important business centre with 200 Fortune 500 companies having their officers in the city.

Haryana has 1.3 per cent geographical area, two per cent of the country’s population and the state’s contribution to the GDP is to 3.2 per cent.  The auto cluster of Haryana produces 50 per cent of commercial vehicles and 40 per cent of passenger vehicles of the country.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.