Indore (Madhya Pradesh): Madhya Pradesh attracted new investment of Rs.1,04,315 crore in all projects during the financial year 2023-24.

In the same year the state completed projects worth Rs.32,043 crore, according to a just concluded study on “MP: investment, growth & development 2020-21 to 2023-24”.

This was stated by chairman of the MSME Export Promotion Council (MSMEEPC) Dr DS Rawat while releasing the study in New Delhi on Tuesday. MSMEEPC conducted the study which disclosed that between 2020-21 to 2023-34, new investment projects (government & private sector) worth Rs.2,77,525 crore were announced against completed projects worth Rs.97,095 cr.

Though the state has over 16.50 lakh registered MSMEs with a total investment surpassing Rs.53,000 crore and providing jobs to over 86 lakh individuals, a large number of them are struggling for survival due to factors such as fast changing technology, non-availability of affordable timely finance, severe global competition and regulatory mechanism.

The contribution of MSMEs of the state has been very significant to the total exports by the state in 2023-24 (Rs.65254 crore ) as against the exports made in FY 22-23 (Rs.65878 crore) Since Madhya Pradesh is an agrarian state and remains a cornerstone of the economy accounting for the largest share of the state’s GSDP at 47% followed by services sector at 34% and manufacturing at 19%, organic farming is fast expanding.

The state is bestowed with a lot of potential to produce all varieties of organic products due to its various agro climatic conditions. Madhya Pradesh is next to Maharashtra in organic farming.

The state tops the list with 0.76 million hectares of area under organic cultivation i.e. 27% of India’s total organic cultivation area and also covers the largest area under organic certification followed by Maharashtra, Rajasthan Gujarat, Karnataka and Odisha. The study underlined the need for strengthening the infrastructure in rural sector to provide support to agriculture in the context of its leading role in production of various crops, a major source of employment and livelihood in the state. 

Nearly Rs 7L cr outstanding investment

Dr DS Rawat said the total outstanding investment projects were worth Rs.6,71,726 crore and suggested constitution of a high powered committee to examine each outstanding project and remove the hurdles coming in the way of implementation.

These figures were quoted on March 4, 2025 by the Centre for Monitoring of Indian Economy (CMIE).

If these outstanding projects worth nearly Rs 7 lakh crore are implemented, the state will be able to create at least 3 lakh direct and 2 lakh indirect jobs, stimulate growth and increase exports. There is also a threat of cost escalation if delayed further.