Latest update: December, 2018
Last Updated: December, 2018
MADHYA PRADESH State Report | November, 2018
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 2017-18 was Rs 7.07 trillion US$ 109.70 billion. Between 2011-12 and 2017-18, the CAGR growth rate (in rupee terms) of the state’s GSDP was 14.39 per cent. The Net State Domestic Product (NSDP) grew at a CAGR of around 14.57 per cent between 2011-12 and 2017-18 to reach Rs 6.39 trillion (US$ 99.11 billion).
Madhya Pradesh is rich in natural resources - fuels, minerals, agriculture and biodiversity. It is also the sole diamond producing state in the country. Diamond production in the state stood at 35,078 carats during April 2017-February 2018.
Madhya Pradesh offers distinctive monetary and strategy/policy incentives for organisations under the Industrial Promotion Policy-2014, 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 had total installed power generation capacity of 21,068.08 MW, comprising 5,867.62 MW under state utilities, 5,144.41 MW under central utilities and 10,056.05 MW under private sector.
The state is home to three operational SEZs, five notified SEZs and ten formally approved SEZs.
Merchandise exports from Madhya Pradesh have increased from US$ 4.13 billion in 2014-15 to US$ 5.25 billion in 2017-18 and US$ 3.16 billion in in April-September 2018.
According to the Department of Industrial Policy & Promotion (DIPP), FDI inflows in the state, between April 2000 and June 2018, totalled to US$ 1,407 million.
Agriculture is the main source of livelihood for the people of the Madhya Pradesh. In 2017-18, the state produced 42.14 million metric tonnes of foodgrains.
Contribution of the primary sector to the state’s GVA has increased to 42.89 per cent in 2017-18 from 33.85 per cent in 2011-12.
Under State Budget 2018-19, an amount of US$ 1,433.26 million was allocated to farmer’s welfare and agriculture development.
Textile industry is one of the key sectors of Madhya Pradesh. The state is one of the major cotton producing states of India. In 2017-18, cotton and silk production in the state reached 2,859 million metric tonnes and 105 million metric tonnes, respectively. Exports of cotton yarn during April-September 2018 stood at US$ 185.63 million.
During 2017, foreign tourist arrivals in the state reached around 0.36 million while domestic tourist visits stood at 78.04 million.
As per budget 2018-19, the state government proposed an allocation of US$ 36.84 million for the development of the state’s tourism department.
Last Updated: November 09, 2018