Registrations at GIS go through intense scrutiny

INDORE: To increase the conversion rate of registrations into investments during the Global Investors Summit (GIS), the state industry department has begun scrutinising the applications it has received. The industry department has cancelled around 2,027 registrations which were received till date for the summit.
Official sources claimed that the previous experiences of the state government at the last four summits about receiving registrations haven't been good enough."This year we are scrutinizing each and every detail of registrations that are getting signed up for the summit," said Kumar Purushottam, managing director, Audhyogik Kendra Vikas Nigam (AKVN).
As of now, the state government has received almost 3,600 registrations out of which it has only approved 1,573 applications that would be participating in the summit. Official sources claimed that even after receiving thousands of registrations in the previous years, the conversion rate was very low. Information related to the company's profile, their investments and future prospects are required for registering their participation at the summit. However AKVN sources claimed that at times people just visit to participate in the two-day event without any investment purpose. "The concerned company is required to fill a form which includes all their details including investments, turn-over and future prospects. Based on that information, we study their form and then it's decided whether to allow them or not," said an industry department official.
Global Investor's Summit will commence on October 22 and the department is further expecting an increase in the number of registrations. During GIS-2014 the state government had witnessed around 5,000 participants, which even included delegates from foreign nations.
AT the past four summits, the state government recorded a growth of almost 900 per cent in the number of participants.
AKVN officials claimed that it's not the participation that matters but the rate of projects that are implemented. "We began with a participation of around 400 delegates in 2007 which reached 5,000 in 2014, but this year industry department officials are extremely cautious about the selection and are hoping that the final list will be beneficial to the state's industrial growth," said an AKVN official.