Latest update: March, 2020
Last Updated: March, 2020
MADHYA PRADESH State Report | March, 2020
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 2019-20 was Rs 8.26 trillion (US$ 118.18 billion). Between 2011-12 and 2019-20, the CAGR growth rate (in rupee terms) of the state’s GSDP was 12.78 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 8,039 carats during April-July 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.
As of February 2020, Madhya Pradesh had total installed power generation capacity of 24,491.05 MW, comprising 7,187.62 MW under state utilities, 6,538.38 MW under central utilities and 10,765.05 MW under private sector.
The state is home to five operational SEZs, six notified SEZs and 12 formally approved SEZs.
Merchandise exports from Madhya Pradesh have increased from US$ 4.13 billion in 2014-15 to US$ 6.38 billion in 2018-19 and reached US$ 4.02 billion in 2019-20 (till December 2019).
According to the Department for Promotion of Industry and Internal Trade (DPIIT), FDI inflows in the state, between April 2000 and September 2019, totaled to US$ 1,437 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 50.40 per cent in 2018-19 from 33.85 per cent in 2011-12.
An amount of Rs 46,559 crore (US$ 6.6 billion) was allocated to farmers welfare and agriculture development in state budget 2019-20.
Textile industry is one of the key sectors of Madhya Pradesh. The state is one of the major cotton producing states of India. In 2018-19, cotton production and silk production in the state reached 24 metric tonnes^ and 100 million metric tonnes, respectively. Exports of cotton yarn stood at US$ 224.72 million in 2019-20 and formed around seven per cent of the state’s total exports during the year.
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 2019-20, the state government proposed an allocation of Rs 229 crore (US$ 32.77 million) for the development of the state’s tourism department.
Note: ^in lakhs bales of 170 kgs each, MMT – Million Metric Tonne
Last Updated: March 17, 2020