Madhya Pradesh To Develop 30 New Industrial Areas, Provide Plots To 5,000 Industries By 2028

Bhopal, Nov 2 (KNN) Madhya Pradesh plans to develop 30 new industrial areas and provide industrial plots to 5,000 industries by 2028 as part of efforts to improve land availability and infrastructure for micro, small and medium enterprises (MSMEs).

The state government will also allow private investors to develop MSME industrial parks, offering financial assistance of Rs 50 lakh per hectare. 

In addition, it plans to establish a separate, state-owned MSME Industrial Development Company to address the land and infrastructure requirements of smaller enterprises.

Chief Minister Mohan Yadav announced the initiatives during an entrepreneur interaction programme organised at his residence on the occasion of the state's Foundation Day.

Industrial land availability across districts

The government has set a target of making industrial land available to MSME units in every district within the next two months. According to Yadav, around 22 districts have already exhausted their existing industrial land availability.

To address the shortage, the government plans to introduce a separate mechanism for developing new industrial areas and ensuring the availability of land for smaller enterprises.

Until now, the development of industrial areas has largely been handled by government agencies. Under the new approach, private investors will also be permitted to develop MSME industrial parks, with financial assistance of Rs 50 lakh per hectare.

These parks are expected to offer smaller industrial plots, flatted factories and plug-and-play facilities for small enterprises.

Dedicated company for MSME industrial development

The proposed MSME Industrial Development Company will be a wholly state-owned entity responsible for identifying, acquiring, allotting and managing industrial land for small and medium enterprises.

It will also develop industrial parks and provide basic infrastructure, including roads, electricity, water supply and drainage facilities.

At present, the Madhya Pradesh Industrial Development Corporation (MPIDC) primarily handles large industrial projects involving investments exceeding Rs 500 crore. The new company is intended to create a dedicated institutional mechanism for smaller entrepreneurs.

Focus on faster land allotment and infrastructure

The state government expects the new institutional arrangement to reduce MSME entrepreneurs' dependence on existing agencies and shorten waiting periods for industrial land and essential infrastructure.

The proposed measures are aimed at expanding industrial land availability and enabling smaller enterprises to access facilities suited to their requirements.

(KNN Bureau)