Indore, July 10 (KNN) The Madhya Pradesh’s MSME department has allotted 55 acre for proposed furniture cluster at Betma Khurd in Indore.

District Industries Trade Centre (DITC) Indore general manager SS Mandloi said, “Around 40 industries are expected to come up in the furniture cluster for which the MSME department has allotted 55 acre. The Special Purpose Vehicle (SPV) will do the development of the cluster and upon its development, the MSME will do registered lease deed with industries for 99 years for the plots in the cluster.”

Around 40 industries are projected to come up at the furniture cluster. They are expected to invest around Rs 250 crore in the proposed cluster.

Association of Furniture Manufacturers and Trades, Indore secretary Harish Nagar said, “The state government has given us 55 acre land for the furniture cluster and has assured to allot more land in future. The SPV had demanded 450 acre from the MSME department against which 55 acre has been allotted to us.”

According to industries, around 5-10 per cent area of the allotted land will have to be left unused due to uneven land that cannot be used for development.

The discussions for furniture cluster were initiated in September 2020 and the project was scheduled to be implemented by early 2022, according to Special Purpose Vehicle formed for developing the cluster.

Indore is home for many large, medium and small furniture manufacturers with an estimated annual turnover of over close to Rs 1,200 crore.
KNN Bureau