Madhya Pradesh

• 01 Mar 2025

Madhya Pradesh Economy to Reach USD 2.1 Trillion by 2047

Why in News? 

According to a recent Confederation of Indian Industry (CII) report, Madhya Pradesh's economy has the potential to reach USD 2.1 trillion by the year 2047-48, from the current figure of around USD 164.7 billion.  

Key Points   

• Key Highlights of the Report: 
  • About: 
    • The report titled " Envisioning Madhya Pradesh's Economy @ 2047" outlines a vision for economic development, identifying key sectors, policy interventions and investment opportunities that will drive the state's transformation. 
  • Basis: The report is based on extensive data analysis and stakeholder consultations, including inputs from industry leaders, policy makers and academic experts. 
    • It serves as a framework to unlock the full economic potential of Madhya Pradesh, ensuring sustainable growth, employment generation and enhanced competitiveness. 
  • Four Key Areas of the Report: 
    • Expansion of transport infrastructure such as the development of multi-modal logistics parks and air cargo hubs. 
    • Skill development and establishment of skill parks to increase the availability of skilled workforce. 
    • Enhancing the efficiency of Single Window System (SWS) for ease of doing business. 
    • Schemes to expand MSMEs, such as concessional credit facilities, improving market access and technological upgradation. 
  • Recommendations of the Report: 
    • According to the CII Director General, with a proactive state government committed to promoting investment and accelerating growth, Madhya Pradesh is well positioned to increase its contribution to India's GDP from the current 4.6% to 6.0% by 2047-48. 
    • Further, the report emphasises that Madhya Pradesh will need to focus on manufacturing and industrial expansion to achieve its ambitious development goals.  
    • Contribution of Agriculture and Manufacturing:  
      • The agriculture sector currently contributes 43% to Madhya Pradesh's economy, while the share of manufacturing must increase from 7.2% to 22.2% by 2047 to sustain long-term growth. 

Confederation of Indian Industry (CII) 

• CII is a non-governmental, not-for-profit, industry-led and industry-managed organisation. 
• It works to create and sustain an environment conducive to India's growth by partnering with industry, government and civil society through advisory and consultative processes. 
• It was established in 1895 and its headquarters is in New Delhi.