Last Updated: April 04, 2014
Latest update: April, 2014
Last Updated: April, 2014
MADHYA PRADESH State Report | March, 2014
Madhya Pradesh is located in Central India. The state is bound on the north by Uttar Pradesh, the east by Chhattisgarh, the south by Maharashtra and the west by Gujarat and Rajasthan.
It is among the fastest growing states in the country. The state’s gross state domestic product (GSDP) grew at a compound annual growth rate (CAGR) of 8.82 per cent during 2005–13.
Madhya Pradesh is rich in natural resources – fuels, minerals, agriculture and biodiversity. It has ample reserves of coal and coal-bed methane – 7.7 per cent of India’s coal reserves and 144 BCM of methane. The state also has the largest reserves of diamond and copper in India, apart from significant reserves of limestone, manganese and dolomite.
Madhya Pradesh offers various fiscal and policy incentives for businesses under the Industrial Promotion Policy, 2010 & Action Plan, besides policies for IT, biotechnology, tourism and special economic zones (SEZs). To attract investors and promote entrepreneurs, the state government has appointed TRIFAC, an agency to facilitate a single-window mechanism, for speedy approvals of various clearances and permissions. The state government has also made some well-planned infrastructure investments in terms of roads, railway networks, buses and airports. It aims to be power surplus by 2014 and also plans to reduce power tariffs by 5 per cent.