Economy

Nicknamed the “heart of India” due to its geographical location, Madhya Pradesh is apparently a fairly joyful place. State’s massive mineral, forest & diamond deposits and a sharp focus on judicious use of its resources turned agrarian-based economy towards industrial based economy. In last one decade, the State developed strong industrial base sectors in Bhopal, Indore, Jabalpur and Gwalior for textile, cement, steel, food processing, automobile and auto components, Pharma, renewable energy and optical fiber.

GROSS STATE DOMESTIC PRODUCT (GSDP)

Economic development
Gross Domestic Product of 83 billion dollars, Madhya Pradesh emerged as the fastest growing state in the country where the per capita income of INR 60,000/- . During the year of 2014-15, GDP of MP Registered 10.19 and Industrial growth rate is 8.04 in last years. Madhya Pradesh has posted an average 20 per cent agricultural growth rate during last four years and clocked close to 17 per cent in manufacturing and 8 per cent in industrial growth during the same period. In Madhya Pradesh, the contribution of industrial sector to GDP has increased to 29 percent.
Natural Resources
The National Mineral Development Corporation (NMDC) is the only organized diamond producer in India from its Majhgawan mine at Panna, Madhya Pradesh. The State is the fourth-largest cement producing state in India, accounting for 14 per cent of India’s total cement production. MP is ranked third in mineral production after Jharkhand and Chhattisgarh. It has largest open cast copper mine, which is located at Balaghat and also has the thickest coal seam in Asia of 135 m at the Singrauli coalfield. About 12 per cent of India’s forests are in Madhya Pradesh.
Water Reserve & Power
The state provides 56,857 million cubic metres (MCM) of water from 10 key rivers for irrigation of about 7 million hectare of land. About 900 MCM water of the Narmada River is exclusively allocated for industrial use. It has an installed power capacity of over 17000 MW. It also has the single largest installed solar photovoltaic unit in India at Neemuch with a power capacity of 130 MW and the world’s largest solar power plant of 750 MW at is coming up at Rewa.
Rising Agricultural Growth
Expansion of irrigation facilities has played the most important role in this. In year 2004-05, only 7.5 lakh hectare was under irrigation in the state. Now it has increased to 36 lakh hectare. There is a target to further enhance it to 40 lakh hectare.

Source: Economic Survey of Madhya Pradesh

ABUNDANT NATURAL RESOURCES

Largest reserves of diamond producer state in India

Rich in natural resources: fuels, minerals, agriculture and biodiversity

India’s largest opencast coal reserves and coal-bed methane (7.7 percent of India’s coal reserves)

Largest opencast copper mine in India

Leading producer of Manganese, Dolomite , Glass Sand and Limestone