Latest update: February, 2016
Madhya Pradesh is an agrarian state. Around 74 per cent of the population of the state is directly or indirectly, dependent on agriculture. It is among the fastest growing states in India. The gross state domestic product (GSDP) grew at a compound annual growth rate (CAGR) of 12.83 per cent during 2004-05 to 2014-15. The state is centrally located in India. Major consumer goods multinationals are situated in Madhya Pradesh in order to access major consumer markets and metro urban communities like New Delhi (740 km), Mumbai (780 km), Kolkata (1,350 km) and Chennai (1,435 km) (all distances from Bhopal).
The state is rich in natural resources, fuels, minerals, agriculture and biodiversity. It is aggressively emerging as a solar power hub, and is targeting generation of 2,650 MW of solar power by 2017. Upcoming theme based SEZs near Jabalpur, industry parks in Indore and food parks at multiple locations aim to promote sectoral growth. The state is rich in minerals and has the highest stone, diamond and copper reserves in India, notwithstanding noteworthy reserves of coal, coal-bed methane, manganese and dolomite.
Between 2004-05 and 2014-15, Gross State Domestic Product (GSDP) expanded at a Compound Annual Growth Rate (CAGR) of 12.83 per cent to US$ 84.27 billion whereas the Net State Domestic Product (NSDP) expanded at a CAGR of 12.99 per cent to US$ 75.64 billion.
Madhya Pradesh State Industrial Development Corporation Limited (MPSIDC) is the nodal agency for industrial growth in the state. It is the central point to coordinate, activate and ensure implementation of mega infrastructure projects. MPSIDC has identified 19 industrial growth centres to attract medium and large industries and non-resident Indians (NRls) to the state, and provide various facilities and concessions to them.
To ensure a balanced and sustainable growth of industry across the state, MPSIDC established seven growth centres at Bhopal, Gwalior, Jabalpur, Indore, Rewa and Ujjain. These growth centres are known as Madhya Pradesh Audyogik Kendra Vikas Nigam Limited (AKVN).
The state has excellent infrastructure, with 19 industrial development parks, 129 industrial areas, six food parks, eight integrated development centres, three dry parks, one stone park, one IT park, one SEZ and an apparel park at Indore. A gems and jewellery park is being developed in Indore to promote the diamond industry in the state.
The following are some of the major initiatives taken by the government to promote Madhya Pradesh as an investment destination:
Indore has been identified for infrastructure development under the Textiles Centre Infrastructure Development Scheme (TCIDS). Indore is a cluster of the readymade garments industry with over 1,260 garment units.
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