Among the fastest growing states in the country since 2003, Madhya Pradesh’s consistent growth has been recognized and awarded by the nation, especially for the improvement shown in tourism, medical and infrastructural growth. With around 33% of the region under forests, Madhya Pradesh has an enormous potential for drug, wood and agro-based commercial enterprises.Further, its centralised location, provide it with excellent connectivity to several parts of India.
Mukhya Mantri Yuva Swarozgar Yojna Scheme for Madhya Pradesh: The objective of this scheme is to promote entrepreneurship in Madhya Pradesh. Finance is offered under this scheme without any collateral security. The rate of interest ranges between 10.25 % – 11.25%.
Madhya Pradesh Investment Promotion Scheme: The scheme provides for reimbursement of the expenditure incurred on infrastructure development, encouragement to private sector for infrastructure, entry tax and power duty exemption for green industrialization, reimbursement of CST and Mandi fee, interest subsidy to textile projects and assistance to economically impaired units.
PRIME MINISTER’S EMPLOYMENT GENERATION PROGRAMME (PMEGP): The objective of this scheme is to generate employment opportunities in rural as well as urban areas of the country through setting up of new self employment ventures/projects/micro enterprises and to bring together widely dispersed traditional artisans/ rural and urban unemployed youth and give them self-employment opportunities to the extent possible, at their place.
Entrepreneurs Memorandum: Any person who intends to establish a micro or small enterprise, at his discretion; or a medium enterprise engaged in providing or rendering of services may, at his discretion or a medium enterprise engaged in the manufacture or production of goods shall file the Memorandum of Micro, Small or as the case may be, of Medium Enterprise with District Industries Centre of its area.
Centre for Entrepreneurship Development Madhya Pradesh (CEDMAP)
1. An autonomous body of M.P. Government and Organization of the Central India established in the year 1988 with joint support of state Government, Central Financial Institutions and Lead Banks of the state.
2. Project Consultancy Services right from Project Identification to preparation of Preliminary & Detailed Feasibility Reports till Establishment of the projects including Market Surveys, obtaining clearances of various departments and other allied project related activities.
3. Instrumental in setting up of many Small, Medium and Large Scale industrial Units throughout the state of Madhya Pradesh,
4. In order to facilitate entrepreneurs in making decisions regarding projects and for availing project consultancy services, CEDMAP has recently launched a Web Portal www.cedmapudyami.com which provides details on viable projects in various industrial sectors. Through this portal entrepreneurs can contact CEDMAP for immediate solution to their project related queries.
In Summary – Madhya Pradesh and Entrepreneurship:
Offering distinctive monetary and strategy incentives for new ventures under its Industrial Promotion Policy, Madhya Pradesh has created an ideal base to pull in investors and promote its enterprising youth. While it has established itself as the second preferred state for the corporate world to set their industries in, many untapped opportunities exist for independent, small-scale entrepreneurs as well.
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Data Sources for Madhya Pradesh:
Note: Policy details provided here are for the purpose of information only. Please verify the latest information from the relevant Government or MSME website of the state. Other data and information is curated from various websites and public documents. In case you have any corrections, additions, or suggestions, please share the same with us, and we’ll be happy to incorporate them here.