Madhya Pradesh to establish new company for MSME facilitation
Chief Minister Mohan Yadav announced the formation of the MSME Industrial Development Company to provide infrastructure and land to small industries.
Madhya Pradesh will soon launch a new state-owned entity called the MSME Industrial Development Company (MSME-IDC) to support Micro, Small, and Medium Enterprises, according to The Hawk.
Chief Minister Mohan Yadav announced the move on Sunday during a programme in Bhopal marking the 71st Foundation Day of the state.
The Chief Minister said the company will provide essential industrial infrastructure, including land, across all regions of the state.
He noted that while the Madhya Pradesh Industrial Development Corporation focuses on large-scale industries with investments above Rs 500 crore, the MSME-IDC will be dedicated exclusively to the MSME sector.
Yadav stated that land for MSMEs will be made available in every district within two months. He also announced that private investors will be allowed to develop industrial parks, with the state providing a grant of Rs 50 lakh per hectare.
MSME Minister Chetan Kashyap said 1,250 plots were allocated to entrepreneurs last year, and the figure is expected to reach 3,000 in the current financial year.
Kashyap added that 30 new industrial areas will be developed by 2028 to provide plots for 5,000 industrial units.