Bhopal (Madhya Pradesh): Chief Minister Mohan Yadav on Sunday announced the formation of the MSME Industrial Development Company (MSME IDC), a wholly state government-owned company dedicated to developing micro, small and medium enterprises across the state.
The company will address the land and infrastructure requirements of MSMEs. The announcement came during a programme at CM House, where Yadav transferred incentives worth over ?450 crore to more than 900 MSME units and ?47.80 lakh to over 120 startups.
Yadav said private investors would also be allowed to develop industrial parks, with the government providing a subsidy of Rs 50 lakh per hectare. Land for MSME units would be made available in all districts within two months.
The CM also issued Letters of Intent (LOIs) for 75 industrial plots, involving potential investment of approximately ?83 crore and the capacity to generate 640 jobs.
MSME minister Chetanya Kashyap said Madhya Pradesh ranked first in the country in promoting MSMEs and providing grants to startups.
He said 1,250 industrial plots had been allotted to entrepreneurs in the past year, with the number expected to reach 3,000 in the current financial year.
Yadav also assured that 30 new industrial areas would be developed by 2028 and plots would be made available to 5,000 industries.
