Latest update: November, 2016
Last Updated: November, 2016
MADHYA PRADESH State Report | November, 2016
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. At current prices, the Gross State Domestic Product (GSDP) of Madhya Pradesh for 2015-16 was US$ 86.32 billion. Between 2004-05 and 2015-16, the CAGR for GSDP was 11.84 per cent.
Madhya Pradesh is rich in natural resources - fuels, minerals, agriculture and biodiversity. The state is the third largest producer of cement in the country and provides up to 13 per cent of national demand. The state represents 8.3 per cent of the country's coal reserves and has 218.04 billion cubic metres (BCM) of estimated coal-bed methane reserves. During 2015-16 (till February 2016), value of all minerals produced in Madhya Pradesh was recorded to be US$ 2.4 billion.
There are 11 agro-climatic conditions and a variety of soils available in the state to support cultivation of a wide range of crops. With around 33 per cent of the region under forests, Madhya Pradesh has an enormous potential for drug, wood and agro based commercial enterprises. Ideal soil and climatic conditions have made it a primary producer of coarse cereals, oilseeds and soybean in India.
Madhya Pradesh offers distinctive monetary and strategy/policy incentives for organisations under the Industrial Promotion Policy-2010 & Action Plan, other than strategies/ policies for IT, biotechnology, tourism and SEZs. To pull in investors and promote entrepreneurs, the state government has selected TRIFAC, an agency that encourages a single window system, for speedy approvals of different clearances and consents. Madhya Pradesh stands 5th among Indian states in rankings based on ease of doing business and reforms implementation, according to a study by the World Bank and KPMG.
According to the Department of Industrial Policy & Promotion (DIPP), cumulative FDI inflows, from April 2000 to March 2016, totalled to US$ 1.29 billion.
Last Updated: October 24, 2016