Madhya Pradesh trade and commerce
Madhya Pradesh is emerging as vibrant state now. Gone are the days, when it was called diseased state. It is all because of increase in trade and commerce activities in the state. Trade and commerce has facilitated for all round development of state along with employment generation.
Steps taken by government to advance trade and commerce
- Executive Graamin Sadak Yojana, in the midst of 2016-17, the state government has centered improvement of more than 2,000 km of boulevards.
- For the progression of various lanes in the express, the state government has proposed circulation of US$ 1.12 billion.
- Work on advancement of IT stops in 4 essential locale of the state, including Indore, Gwalior, Bhopal and Jabalpur, is required to be begun in the midst of 2016-17.
- Moreover, electronic gathering bunches are similarly being set up in Jabalpur and Bhopal. For these new establishments, Government of Madhya Pradesh apportioned a measure of US$ 7.94 million as per the Budget 2016-17.
- For a sorted out advancement, the organization has apportioned the state into six clusters – Indore, Bhopal, Jabalpur, Gwalior, Rewa and Sagar. MPSIDC has endeavored a US$ 13.3 million errand to pass on water from Narmada River to Dewas under the BOT contrive. The endeavor would likely reason the water issues of 460 undertakings and support advance industrialization on dewas present day belt.
- The condition of governments making two SEZs at Hargarh and Umariya-Dungariya. Once operational, the Hargarh SEZ will give establishment support to mineral-based undertakings, while Umariya-Dungariya will consider the cultivating and sustenance dealing with wanders.
- The state government has pronounced plans to upgrade existing clothing bunches at Indore and Jabalpur.
- The state government has developed a material stop in Chhindwara. Indore perceived for structure change under the Textiles Center Infrastructure Development Scheme (TCIDS). Indore is a group of the readymade bits of dressing industry with more than 1,260 pieces of attire units.
- To attract wander into the material division, the governing body has given an interest sponsorship to five years at the rate of five for every penny for material assignments and seven for each penny for composite material endeavors.
- In addition, the organization gave 100% help with plant and contraption for quite a while under Industrial Investment Promotion Assistance Scheme.
Trade and commerce and Investor summit in Madhya Pradesh
Worldwide Investors Summit, formally the Invest Madhya Pradesh Global Investors Summit or GIS is a biennial business summit sorted out by Government of Madhya Pradesh in Indore, the business capital of focal India to pull in residential and remote speculation for improvement of the state. In view of the theme– India’s Growth Center and went for uniting business pioneers, speculators, organizations, thought pioneers, approach and sentiment producers; the summit fills in as an ideal stage to comprehend and investigate business openings in the State of Madhya Pradesh.
- GIS 2007 – Signed 102 MOUs worth Rs 1.2 Trillion
- GIS 2016 – 2630 Investments proposed worth ₹5.6 Trillion
- GIS 2012 – Signed 259 MOUs for setting up ventures worth Rs 4.3 Trillion
- GIS 2010 – Signed 107 MOUs for setting up ventures worth Rs 2.3 Trillion
Madhya Pradesh Commerce Industry department and its role in trade and commerce in state
MP Commerce Industry & Employment department is responsible for all round industrial development and creation of employment opportunities in Madhya Pradesh. The department acts as a catalyst to modernize & strengthen the Industries of the State to make them globally competitive. The State has industrial friendly atmosphere and favourable policies for development of Industries. The department facilitates establishment of Industries to achieve employment generation and utilization of local resources. It also provides a forum for Industries through their associations to represent their needs to the Government, which envisages to make industrial friendly policies and ease in availing required services.
Promotion of economic development of the state and creation of employment opportunities through industrialization and private capital investment
Industrialization & Private Investments
- Establishing & Promoting ‘Brand MP’
- Web Portal – INVEST Portal
- Participation in National and International events
- Organizing Roadshow at National and International Level
- Global Investors Summit (once in two years)
- One-to-one meeting of Investors with Hon’ble Chief Minister on every Monday for time bound resolution of issues./difficulties.
- Development of Industrial Infrastructure
- Developing new industrial areas and investment Corridor
- Land allotment on “First Come – First Served basis” – Without Waiting
- Arrangement of best-in-class Infrastructure maintenance in Industrial Areas
- Provision of Land Bank to facilitate allotment of undeveloped land to large Industries
- Ease of Doing Business
- Single Window Platform
- Simplified procedures for Environmental Clearance and Consent to Establish & Consent to Operate.
- Labour Laws, Building Construction & Land Diversification – Approvals through Simplified Procedures
- Industrial Promotion Policy
- Tax concessions
- Timely delivery of Incentivies
MP Trade and Investment Facilitation Corporation(MPTRIFAC)
MPTRIFAC (MP Trade and Investment Facilitation Corporation) is acting as the Single Window Secretariat for Investment promotion and facilitation in the state since 2004. MP TRIFAC has developed an ICT (Information & Communication Technology) enabled single window system, which allows the investor to apply online for various approvals required to setup a business in the state.
Benefits to Investor:
- Provides one stop solution to facilitate investor in the state through the web portal
- Less physical interaction with various departments
- Allowing online submission of applications
- 24*7 access to information and services
- Status update through SMS & E-mails
- Helpdesk support
- Simplified application process.
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