Madhya Pradesh ranks 5th among 16 major states in implementation of investment proposals

Bhopal: Following untiring efforts of state government to attract industrial investment, Madhya Pradesh now ranks 5th among 16 major states of the country in implementation of investment proposals. In year 2004-05, implementation of industrial investment proposals was 41 percent, which has gone upto 55 percent now. Of the MoUs signed since 2007 as on March 2013, production has started in 110 industries. Involving capital investment of Rs. 84 thousand 711 crore, these industries have provided jobs to about 1.50 lakh people. At present, 175 projects costing Rs. 74 thousand 614 crore are under construction and 272 projects costing Rs. 3 lakh 86 thousand 337 under implementation.

Compounded annual growth rate (CAGR) at GSDP was 15.34 percent from year 2003 to 2013. During the period, state’s industrial CAGR stood at a impressive 16.54 percent.
Due to state government’s efforts to give concrete shape to investment proposals, Madhya Pradesh stands 5th among 16 major states of the country with 55 percent implementation. Major states like Karnataka, Maharashtra, Odisha, Andhra Pradesh and Tamil Nadu are behind Madhya Pradesh in this respect.
It is noteworthy that state government has included industrial development among its top priorities. For increasing capital investment in the state, Madhya Pradesh Investment Facilitation Act 2008 was implemented. Under the Act, three-tier empowered committees have been constituted to facilitate investors and investment proposals.
In the state, 27 new industrial areas are being set up in the state in 7675 hectare at a cost of Rs. 3022 crore. Since year 2012 to 2015, industrial infrastructure is being developed at a cost of Rs. 481 crore on 7701 hectare in 13 industrial areas. About Rs 494 crore has been spent on infrastructure development since year 2004-05 to 2012-13.