MP attracted over ₹10L cr investments in two years by enhancing ease of doing business: Chief minister Mohan Yadav

Madhya Pradesh has attracted investments worth over ₹10 lakh crore in the last two years by enhancing ease of doing business for investors, including scrapping of multiple redundant laws, simplifying procedures and significantly lowering land acquisition time to 29 days from 69, chief minister Mohan Yadav said at the Economic Times World Leaders Forum.

His government has drawn up a blueprint for holistic development of all districts encompassing emerging sectors to turn Madhya Pradesh into a developed state in the coming years.

"We have created enough land bank in the state so that setting up industry becomes easier, brought transparency to the system, scrapped over 900 redundant laws and over 2,700 unnecessary circulars while significantly lowering the land acquisition time," Yadav said in a fireside chat with ET's Deepshikha Sikarwar.


This thrust has been bolstered by the state government's commitment to investors by providing subsidies on land, labour and power among others, he said. "All subsidies amounting to nearly ₹5,500 crore have been given to investors through direct benefit transfers (DBT) well in time and this has significantly enhanced their confidence in the state," he said.

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Yadav said his government is developing subject and sector-wise industrial clusters in energy, telecom, defence, education and health among others for all-round development.

"Over 340 industrial belts are being developed with the state having over 1 lakh acre land, surplus electricity and giving a labour subsidy of ₹5,000 per worker to support manufacturing," he said. His government has introduced 24 policies in less than two years for industrial development in a state that has traditionally depended on agriculture. Elaborating on his vision to enhance exports from the state, chief minister Yadav said 37 out of 55 districts are shipping one or more products overseas.

"Our effort is to make it to 55 in one-and-a-half years, for which both state-level and district-level monitoring are underway," he said. Madhya Pradesh is emerging as a key state in this regard with annual exports in excess of ₹88,000 crore.

The state is also focusing on energy, telecom, defence, fisheries and milk production to boost production and exports, he said. "Madhya Pradesh has 31 GW of energy, of which 30% is green energy. We plan to raise it to 50% across sectors including wind, hydro and others," he said, adding that the state has a lead in cement as well as mining, including gold and diamonds.

Laying out his vision for a developed state, chief minister Yadav said he has set an internal target of per person income of ₹22.5 lakh by 2047 compared with ₹1.69 lakh now.

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Yadav said that the state has already seen significant progress in the last few years with the number of medical colleges going up to 49 and state universities rising to 73, along with five new and upgraded airports and five more to come up.

"MP is in the centre of India but we are well connected in all directions," he said, adding that the spirit of competitive federalism will help all states to prosper, which in turn will lead to development of the nation and help realise the government's vision of a Viksit Bharat by 2047.