Madhya Pradesh has successfully weathered the slowdown and registered a 11.98 per cent growth rate, while its agriculture grew at 18 per cent and manufacturing at 16 per cent during 2011-12.
Its inclusive growth policy has helped the central Indian state shed its BIMARU image by emerging as the major investment destination across the country, according to chief minister Shivraj Singh Chouhan. He was in the city to invite investors ahead of an investment summit.
Chouhan told Business Standard that the state grew during the 11th plan period at 10.2 per cent for five consecutive years. "While India could achieve a growth rate of 6 per cent, Madhya Pradesh's growth was double at 11.98 per cent in 2011-12. We expect the growth rate to grow further," he added.
This was possible as the government took a slew of decisions to attract investment in almost all sectors, which ultimately spurred the growth rate, the chief minister said. Of the Rs 1.10 lakh-crore investment it had received last year, production has begun at various projects worth Rs 28,000 crore while the construction was underway at various stages for the balance investment, he added.
Chouhan said the government's single-window system has paid off to make the entire investment process hassle-free and time-bound. “We would be the country's number one in agriculture by 2015. We would have sufficient power for the entire state by 2014, and would grow at more than 12 per cent in the next five year," he added.
According to Chouhan, his government has identified key sectors such as infrastructure, agriculture and agri business, tourism, mining, automobile and information technology to attract investments.
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"The state has no mining mafia. The government has tweaked the mining policy by adopting auction route. Transperancy is of utmost importance," he said.
Chouhan projected that Madhya Pradesh would be the next favoured destination for information technology.
"Already TCS and Infosys have approached us with investment proposals. Besides, the state will be ideally located to emerge as logistic hub of the country," he said.
Industry minister Kailash Vijayvargiya said Bollywood is coming to the state in a big way. "Madhya Pradesh has been chosen as best destination for shooting as recent films and TV serials are being shot," he added.