Madhya Pradesh Approves New Industrial Policies to Boost Investment and Employment
| Aspect | Details |
|---|---|
| Why in News? | Madhya Pradesh Cabinet approved over 10 policies related to various industrial sectors. |
| Key Policies Approved | Industrial Promotion Policy-2025 along with 10 sector-specific policies: |
| 1. Agriculture, Dairy and Food Processing Policy | |
| 2. Textile Policy | |
| 3. Apparel, Footwear, Toys, and Accessories Policy | |
| 4. Aerospace and Defence Production Promotion Policy | |
| 5. Pharmaceuticals Policy | |
| 6. Biotechnology Policy | |
| 7. Medical Device Policy | |
| 8. EV Manufacturing Policy | |
| 9. Renewable Energy Equipment Manufacturing Policy | |
| 10. High Value-Add Manufacturer Policy | |
| Objectives of Industrial Promotion Policy-2025 | Promote industrial development, increase GDP share from Rs 2.9 lakh crore (2023-24) to Rs 6 lakh crore by 2030, attract investment, generate 20 lakh new jobs, simplify business processes, and ensure sustainable and balanced industrial growth. |
| Investment-Based Incentives | Industries investing Rs 50 to Rs 150 crore: up to 40% incentives. Investments up to Rs 200 crore: 32% incentives with additional concessions. |
| Electricity Discounts | Special discounts on electricity for investors. |
| Financial Support | Rs 10 crore for management support; Rs 5 crore for infrastructure development. |