| Madhya Pradesh, in its
present form, came into existence on
November 1, 2000, following its
bifurcation to create the new state of
Chhattisgarh. With a Net State Domestic
Product of US$ 9.8 billion, Madhya
Pradesh is the ninth largest state
economy in India.The state’s central
location gives it the unique advantage
of being the hub in India’s national
logistics network. Key industry
sectors in Madhya Pradesh are cement,
textiles, mining and edible oils. The
state is one of the largest producers of
cement in the country and a leading
producer of edible oils.
Industries with potential for
significant development in the state are
automobiles and pharmaceuticals. A
number of automobile and pharmaceutical
companies are investing in
establishing/expanding their production
base in the state.
The cost of basic infrastructure and
skilled manpower is relatively low in
Madhya Pradesh. The state offers one of
the lowest ratios of labour cost to
sales ratio in the country.
The state government has developed a
greenfield Special Economic Zone at
Indore. It has also successfully
leveraged private investment in
transport infrastructure. The state
government has been taking steps to
strengthen and reinforce a conducive
investment climate for potential
investors through progressive policies,
simplification of procedures and
investment incentives. |
