The Madhya Pradesh government had signed as many as 20 Memorandums of Understanding worth billions of rupees in the just concluded agri-business meet.

An official government release said: "An estimated Rs 62 billion of investment had been received for setting up of various agro based industries in the state."

The MoUs have been reached for setting up various agri industrial units in the state, development of barren land, establishment of sugar factories, setting up of food processing units, agriculture research, organic food processing, seed production and potato cultivation and its processing.

The biggest among the deals as the agreement between Madhya Pradesh Agro Industries Corporation and the Mumbai based Ruchi Soya Industries [Get Quote] Limited.

Two MoUs of Rs. 4 billion each were signed for animal rearing and fat cheese plant by the New Delhi based Hind Agro Industries Limited and Daisy Agrotech respectively. Agreements involving investment between Rs. 2 million and Rs. 10 billion were also signed in various fields related to agriculture.

The state government has assured the participants in the meet about the priorities, policies and the incentives being offered by the state in agriculture sector.

The government has also announced setting up of a forum to establish regular dialogue between farmers and entrepreneurs so that the former get reasonable prices for their agriculture produce.

As many as 150 representatives of renowned industrial houses like Birla group, Adani group, Bharti Mittal group, Bikano group, Reliance [Get Quote] Fresh, Hindustan Agro, ITC and others participated in the meet.