Bhopal, Feb 17 (IANS): Chief Minister Mohan Yadav on Monday said the state's upcoming Global Investment Summit (GIS) would be different from the previous ones and it will be successful due to the new investment policy introduced recently.

The Chief Minister said that the state government had been working on framing the attractive investment policy for almost a year, focusing on building the right infrastructure, improving policies, and engaging with stakeholders.

"Groundwork for GIS began with the beginning of the Regional Industry Conclave (RIS) organised in different parts of the state in the past year. Therefore, two-day GIS will be very different from the past once," said the Chief Minister.

He stated that the state government has crafted new investment policy on specific sectors like textiles, electric vehicles (EVs), food processing, and renewable energy by observing the interests of industrialists during meetings.

Highlighting more about the state's new investment policy introduced recently, Yadav stated the government has made provision for tax incentives, land subsidies, and subsidies on electricity to attract investors.

"Madhya Pradesh has strong infrastructure along with an ideal business environment for any industry to thrive. We also have skilled labour, and the people here are hardworking. Moreover, we have abundant raw materials," Yadav said.

He asserted that during the summit, industry leaders from various sectors will share their experiences, insights, and strategies to accelerate industrial development and leverage the opportunities in the state.

Chief Minister also stated that due to investor-friendly policies, the state's financial sector will also witness massive growth in the next five years.

Two-day GIS will be inaugurated by Prime Minister Narendra Modi on February 24 in Bhopal while Union Home Minister Amit Shah will participate in the closing ceremony of the event on February 25.