Between 1999 and 2008, the annualized growth rate was very low 3.5 per cent.[1] According to Global Hunger Index, the malnutrition situation in Madhya Pradesh "extremely alarming", receiving a severity rating between Ethiopia and Chad.[2]
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Following is a table showing trend of gross state domestic product of Madhya Pradesh at market prices estimated by Ministry of Statistics and Programme Implementation with figures in millions of Indian Rupees.
| Year | Gross State Domestic Product |
|---|---|
| 1980 | 77,880[3] |
| 1985 | 139,050[3] |
| 1990 | 304,720[3] |
| 1995 | 478,410 |
| 2000 | 737,150 |
| 2005 | 1,044,850[4] |
After partition, the new Madhya Pradesh state produces about 70% of the output of the old Madhya Pradesh state - the rest is produced by Chattisgarh. The state's debt was estimated at 51 per cent of its GDP by 2005.[5]
This is a chart of output of major commodities of Madhya Pradesh.
| Commodity | National Share |
|---|---|
| Soybeans | 75% |
| Grams | 36% |
| Oilseeds | 25% |
| Pulses | 24% |
| Food grains | 8%dwqd
d |
Only one S&P CNX 500 conglomerate has its corporate office in Madhya Pradesh viz. Ruchi Soya Industries (2005 gross income Rs.49,661 million). State-run NTPC will invest about Rs 20,000 crore to set up a 3,960-megawatt (Mw) coal-based power project in Madhya Pradesh. NTPC had signed a memorandum of understanding with the state government and MP Power Trading Company regarding this[6]
MFP from the forests, such as Tendu leaves used to roll bidi's, Sal seed, teak seed and lak are a major contributor to the rural economy of the state. MFP-PARC (Minor Forest Produce - Processing & Research Centre) is located in the state capital - Bhopal. MFP-PARC [1] is a unit of M P Minor Forest Produce (Trading & Development) Co-operative Federation Limited. "Vindhya Herbals" is the brand of various ayurvedic, herbal & fruit products produced by M P MFP Federation. Apart from MFP-PARC, these products are also produced in Rehti (Sehore District), Barman (Narsinghpur District), Katni, Panna & Dewas in Madhya Pradesh. Some more processing centres are in the pipeline.
The economy is mainly based on Industries. Being capital of the state it is an important Industrial sector of the state. Electrical Goods, Cotton, Chemicals and Flour mining are the main source of economy.Zardaori and embroidery of Bhopal's old city is also famous.Now being a metropolitan city, Software and IT sector in also getting a boost in the city.
Gwalior enjoys being at a very strategic position as being a main junction on New Delhi - Chennai railroad and being on NH-3 and NH-75. Gwalior is surrounded by 3 Industrial areas - Sitholi, Banmore and Malanpur. All these three sectors are on NH 75, NH-3 and NH 92 respectively. Malanpur is the biggest. The city earlier had big manufacturing industries like - Gwalior Grasim and J.C.MILLS of Birlanagar but now this sector is left with only one industry-J.B.Mangharam Ltd. But the other 3 sectors have many industries. The importants are from Dairy, Chemical,Manufacturing,textile indurty etc. Handicraft and small industries are also found like Gwalior potteries.Gwalior is also a important historical and tourism sector of the country therefore tourism sector also puts an effect into the city's Economy.Gwalior is part of NCR. Gwalior trade fair is a annnual trade fair showcasing economy of Gwalior.
Indore is often referred as the commercial capital of Madhya Pradesh with a bulk of its trade coming from Small, Mid and Large scale manufacturing & service industries. These industries range from Automobile to Pharmaceutical and from Software to Retail and from Textile trading to Real estate. Major industrial areas surrounding the city include the Pithampur Special Economic Zone and the Sanwer Industrial belt. Pithampur is also known as the Detroit of India.[22][23] While the Textile manufacturing and Trading is the oldest business to contribute to economy, the Real Estate has emerged very fast in past few years. National Real Estate Players DLF Limited,Omaxe,Sahara, Parsvnath, Ansal API, Emaar MGF have already launched their residential projects in Indore. These projects are generally on the Indore bypass.This road also houses the projects of many local and regional Real estate players like Silver spring, Kalindi, Milan Heights etc. Major software firms in Indore include Impetus, IBM India[24] and Computer Sciences Corporation (CSC). Also many small and medium size software development firms are also established. In the software front a major event occurred in the first half of 2011 when India's biggest software company Tata Consultancy Services decided to open a campus in Indore. Government of MP has also done the land allotment.[25] Infosys, country’s second largest information technology services company, plans to set up new development centre at Indore in Madhya Pradesh at an investment of Rs 100 crore in phase one.[26] Pithampur near Indore houses production plants of various Pharmaceutical companies like Ipca Laboratories, Cipla, Lupin, Glenmark, Unichem.
The Narmada river bringing in fresh water from the Vindyachal Ranges has developed Jabalpur district into an agrarian economy. The land of the Narmada basin with its fertile alluvial soil gives good yields of sorghum, wheat, rice and millet in the villages around Jabalpur. Important among commercial crops are pulses, oilseeds, cotton, sugar cane and medicinal crops. The state is poised for a breakthrough in soybean cultivation. In Kharif crops occupy 60% and Rabi crops 40% area with 71.4% area under food grain production. Nearly 59% of landholders are marginal whereas small farmers share 18% of farmland. Low literacy rates (35.45%), undulating topography, high percentages of waste land (13.2%), underdeveloped irrigation potential (23%), low ground water utilization, large proportion of rain fed agriculture (75%), practice of Kharif fallows (3.6%), low cropping intensity (131%), low fertilizer consumption (50 kg/ha), high proportion of low value crops, and high numbers of unproductive livestock constrain production in the state. Jabalpur has a variety of industries largely based in mineral substances of economic value found in the district, although the ready-made garments industry is a substantial portion of production in Jabalpur. Defence establishments started in the early 20th century. Jabalpur has four ordnance factories. The Gun Carriage Factory was started in the year 1904 is well equipped and manufacture gun parts, mounting, shells and a variety of the other product for war purpose. Vehicle Factory Jabalpur (VFJ)[5] was started as manufacturer of trucks named SHAKTIMAN. Other two are Grey Iron Foundry (GIF) and Ordnance Factory Khamaria (OFK).[5] Armed forces make a large portion of the city and economy in this city. The city has three regimental centres: Grenadiers, Jammu and Kashmir rifles and the Signals regiment. Jabalpur is also the Army Head Quarters of Madhya Pradesh, Bihar, Chattisgarh, and Orissa. Jabalpur is an important Divisional Headquarters having 8 districts: Jabalpur, Seoni, Mandla, Chhindwara, Narsimhapur, Katni, Dindori, Balaghat. The Jabalpur District has been reconstituted on May 25, 1998. It now has four tehsils Jabalpur, Sihora, Patan and Kundam. Jabalpur also has the headquarters of the Madhya Pradesh State Electricity Board, Homeguards and many other State and Central Government Offices. There are 7 Blocks in the district with 1449 inhabited villages, 60 uninhabited, 1209 revenue villages and 4 forest villages. The presence of several industries in Jabalpur bolstered the industrial scenario of the city. However the industrial growth of the area owes much to the defense establishments and the four ordinance factories. The presence of the military base and the ordinance factories have improved the infrastructure of the city. This have boosted the industrial development of Jabalpur. The four ordinance factories in Jabalpur are the Grey Iron foundry, the Ordinance factory in Khamaria, the Gun Carriage factory and the Vehicle Factory Jabalpur. The important industries in Jabalpur are: Readymade Garments units Poultry/Hatchery Electrical goods industry Saw mills Wood cutting industry Industries relating to lime stone products Building materials Glassware Telephone parts Furniture making industry Shaw Wallace Gelatin Factory Steel Structures works Cement Industries Commercial Engineers & Body Builders Co Limited [CEBBCO ] Tobacco business Retail business Food processing industry Vendors for Coca-Cola India & Parle India