Madhya Pradesh aims to contribute Rs 55,000 cr to India's GDP by 2026: CM

Madhya Pradesh Chief Minister Shivraj Singh Chouhan on Thursday said the state's contribution to India's economy will reach USD 550 billion by 2026 as the country is expected to become a USD 5-trillion economy.

Chouhan said the state's gross domestic product (SGDP) is growing at 19.67 per cent this year and it has been attracting investments at a faster pace.

"Prime Minister Narendra Modi has taken a pledge to make India a USD 5-trillion economy. It will be achieved when states do their part. So we will be contributing USD 550 billion to the country's economy by 2026. We have made a road map to accomplish this (target), and attracting investment is a part of this plan," Chouhan told reporters on the sidelines of an event here.

At 'Investment opportunities in Madhya Pradesh' event hosted by industry body CII, the chief minister also urged the investors' community to invest in Madhya Pradesh. The event comes ahead of a two-day global investors' summit which is scheduled to be held in Indore beginning January 11 next year.

The chief minister said that Madhya Pradesh offers a host of benefits to new businesses, which include easy availability of land and strong infrastructure support.

The state does not have any kind of industrial unrest. At the same time, there is an abundance of skilled manpower here, Chouhan said.

He said there are immense opportunities for investment in areas such as food processing, textiles, pharmacy, automobile, tourism and warehousing sectors, among others. And these segments are attracting investment as well.

The chief minister said that he has held meetings with business houses such as Reliance, Mahindra & Mahindra, Hindustan Unilever (HUL) and BPCL and during the course of the day will be meeting with other companies as well.

According to the state government, the state's strategic location, strong resources, innovative and proactive policy approach and industrial corridors are the other key differentiators.