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Industrial Development & Economic Growth in Madhya Pradesh

August, 2014

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 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.

The following are some of the major initiatives taken by the government to promote Madhya Pradesh as an investment destination:

  • For a structured growth, the government has divided the state into six clusters - Indore, Bhopal, Jabalpur, Gwalior, Rewa and Sagar.
  • A gems and jewellery park is being developed in Indore to promote the diamond industry in the state.
  • MPSIDC has undertaken a US$ 14.7 million project to bring water from Narmada River to Dewas under the BOT scheme. The project would likely resolve the water problems of 460 industries and facilitate further industrialisation of the Dewas industrial belt.
  • 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.
  • To attract investment into the sector, the government has provided an interest subsidy for five years at the rate of five per cent for textile projects and seven per cent for composite textile projects.

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