Madhya Pradesh's Economic Leap: A Vision for 2047

A CII report suggests Madhya Pradesh could expand its economy 18-fold to USD 2.1 trillion by 2047-48. This requires focusing on manufacturing and industrial growth. The state's share in India's GDP could increase from 4.6% to 6%, with interventions needed across sectors.

Madhya Pradesh is poised for an economic transformation, potentially increasing its size by 18 times to USD 2.1 trillion (Rs 248.6 lakh crore) by 2047-48, according to a report by the Confederation of Indian Industry (CII).

The report emphasizes the necessity of prioritizing the manufacturing industry for the state to achieve these ambitious targets. With a focus on industrial expansion, Madhya Pradesh could see its gross state domestic product (GSDP) grow to USD 2.1 trillion at a CAGR of 8.6%, up from the current USD 164.7 billion.

Chandrajit Banerjee, CII Director General, highlighted the role of proactive government policies in realizing such growth, predicting an increase in the state's contribution to India's GDP from 4.6% to 6% by 2047-48. Strategic interventions across sectors are essential, with the manufacturing sector's share required to rise significantly from 7.2% to 22.2%.