Understanding the industrial sector and the economy in Madhya Pradesh.
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The gross state domestic product of the state for 2014-15 was $84.27 billion, and the CAGR for GSDP in 2014-15 was 12.83%. The state contributes to 8.3% of the total coal reserves of the country and coal bed methane reserves of 218.04 billion cubic meters. There are also reserves of copper and diamond, limestone, dolomite and manganese too. The state has great potential in forest-based products and has plenty of industries along with agro based commercial enterprises to. The state’s primary produce are coarse cereals, soybean, and oilseeds in the agriculture sector. Industries found here are auto and auto component, pharmaceuticals, tourism, manufacturing, textiles, cement, and others. Various small and heavy industries can be seen here due to several prominent factors.
The state government has provided offers like monetary and policy incentives to attract investors. It has a single window clearance system for approvals of various schemes and plans for industry setup. Besides, this there are well-planned roads, railroads and infrastructure investments in the state. Subsidies are offered along with schemes and other facilities like water, electricity, industrial parks and more. Mining is another important sector that contributes to the economy of the state. It’s an excellent place for investing as there are 19 industrial development parks, 129 industrial areas, 8 integrated development centers and several other parks.
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