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For updated information, please visit www.ibef.org July 2017

MADHYA PRADESH

THE LAND OF DIAMONDS

Table of Content

Executive Summary……………….….…….3

Advantage State…………………..….……..4

Vision 2018…………………………………..5

Madhya Pradesh – An Introduction….…....6

Budget 2016-17…………………….....……17

Business Opportunities .............................41

Doing Business in Madhya Pradesh......…71

State Acts & Policies…...…...................…72

For updated information, please visit www.ibef.org MADHYA PRADESH 3

EXECUTIVE SUMMARY

GSDP of Madhya Pradesh grew at a compound annual growth rate (CAGR) of 11.72% during 2005-06 to

2016-17. Strong economy

The state is rich in natural resources: fuels, minerals, agriculture & biodiversity.

Madhya Pradesh has ample reserves of coal & coal-bed methane (8.38% of India’s total coal reserves & 218.04

BCM of methane).

The state has the largest reserves of diamond & copper in India.

Madhya Pradesh has significant reserves of limestone, manganese & dolomite.

Rich in natural resources

Madhya Pradesh boasts of rich ancient cultural & religious heritage.

Due to a thick forest cover, the state has immense potential for wild life, adventure & eco-tourism. Potential for tourism

Due to its centralised location, Madhya Pradesh has excellent connectivity. Many FMCG companies have

moved their warehouses here to save on logistics expenses.

Upcoming theme based SEZs near Jabalpur, industry parks in Indore & food parks at multiple locations aim

to promote sectoral growth.

MP is emerging as a solar power hub & is targeting generation of 2,650 MW of solar power by 2017.

Infrastructure support

Source: Aranca Estimates based on “Advanced Estimates” provided by Directorate of Economics and Statistics, Government of Madhya Pradesh; Ministry of Petroleum & Natural Gas


ADVANTAGE MADHYA PRADESH

Strategically located business hub

The state is centrally located in India. Major consumer goods multinationals

are situated in Madhya Pradesh in order to access major consumer markets

& metro urban communities like New Delhi (740 km1), Mumbai (780 km1),

Kolkata (1,350 km1) & Chennai (1,435 km1)

Geographical proximity with the automotive hub of NCR has favourably

impacted Madhya Pradesh’s auto ancillary industry. The state’s well

developed automotive cluster is now home to around 30 auto component &

ancillary units.

Attractive investment avenues

With around 33% of the region under forests, Madhya Pradesh has an

enormous potential for drug, wood & agro-based commercial enterprises.

Ideal soil & climatic conditions have made it a primary producer of coarse

cereals, oilseeds & soybean in India.

The cluster-based advancement methodology promotes investments in

automotive, textiles & biotechnology.

Plentiful limestone & coal reserves give development avenues for the

cement industry.

A rich cultural heritage, scenic beauty & wildlife sanctuaries offer a

promising tourism industry. Indore is all set to be the new IT capital with

TCS & Infosys opening their offices.

Policy and infrastructure support

Madhya Pradesh offers distinctive monetary & strategy/policy incentives for

organisations under the Industrial Promotion Policy-2010 & Action Plan,

other than strategies/ policies for IT, biotechnology, tourism & SEZs. To pull

in investors and promote entrepreneurs, the state government has selected

TRIFAC, an agency that encourages a single window system, for speedy

approvals of different clearances & consents.

The state government has made some well-planned infrastructure

investments for roads & railroad systems. Government offers various

subsidies under ‘Industrial Investment Promotion Assistance (IIPA) under

2014 Schemes’ for investment in development of road, electrification,

water, industrial parks, etc.

Rich resource pool

Madhya Pradesh adds around 270,000 graduates to the workforce each

year, of which around 90,000 have technical skills. At labour costs of US$

3.7 per day, the state has a significant cost advantage over metros.

The state houses some of the country’s most reputed institutes including

Indian Institute of Management, Indian Institute of Foreign Management &

Indian Institute of Technology.

Advantage

Madhya

Pradesh

1 From Bhopal


MADHYA PRADESH VISION 2018

Housing

Improve civic infrastructure,

including public & household

sanitation facilities

Expand availability of affordable

housing

Agriculture

Expand the outreach of agriculture

technology & irrigation to remote

farms.

Promote farm level diversification

and value addition.

Transport

Develop the transportation

network to enhance rural

connectivity

Reform the institutional

machinery for creating public

transport facilities

Infrastructure

Skill

development

Investment

promotion

Skill development by expanding

training infrastructure & capacity to

aid 1 million youth in attaining

wages & self employment

Make the state a world class

tourist destination

Promote religious, adventure &

heritage tourism & attract private

investment

Connect all villages through

world class highways

To be a leader in renewable

energy & green technology

Keep the state power surplus by

addition to the power generation

capacity

Vision Environment Promote social & agro forestry

Revitalise ground water

resources

Private sector participation in

maintaining waste disposal &

water conservation

Tourism

Enhance the ease of doing

business for the benefit of

investors

Attract higher investments in

manufacturing, services &

labour intensive sectors

Source: Government of Madhya Pradesh


MADHYA PRADESH FACT FILE

Madhya Pradesh is located in central India. The state is surrounded

by Uttar Pradesh in North, Chhattisgarh in East, Maharashtra in

South, Gujarat and Rajasthan in west.

The most commonly spoken language of the state is Hindi. English

and Marathi are the other languages used.

Bhopal, Indore, Gwalior, Jabalpur and Ujjain are some of the key

cities of the state.

There are 11 agro-climatic conditions and a variety of soils available

in the state to support cultivation of a wide range of crops.

Parameters Madhya Pradesh

Capital Bhopal

Geographical area (sq km) 308,000

Administrative districts (No) 51

Population density (persons per sq km) 236

Total population (million) 72.6

Male population (million) 37.6

Female population (million) 35.0

Sex ratio (females per 1,000 males) 931

Literacy rate (%) 70.6

Source: Government of Madhya Pradesh website, National Informatics Centre Madhya Pradesh


MADHYA PRADESH IN FIGURES … (1/2)

Parameter Madhya Pradesh All states Source

Economy 2016-17 2016-17

GSDP as a percentage of all states’ GSDP 4.20 100.0

Aranca Estimates based on “Advanced Estimates”

provided by Directorate of Economics and

Statistics of Madhya Pradesh

GSDP growth rate (%) 17.74 11.52




Per capita GSDP (US$) NA NA




Physical Infrastructure

Installed power capacity (MW) 19,766.25 3,30,273.65 Central Electricity Authority, as of June 2017

Wireless subscribers (No) 69,550,000 1,170,180,000 Telecom Regulatory Authority of India, as of March

2017

Internet subscribers (No) 24,770,000 422,200,000 Telecom Regulatory Authority of India, as of March

2017

National Highway length (km) 5,193.57 100,087.08 NHAI & Roads and Building Department

Airports (No) 5 125 Airports Authority of India


MADHYA PRADESH IN FIGURES … (2/2)

Parameter Madhya Pradesh All states Source

Social Indicators

Literacy rate (%) 70.6 73.0 Census 2011

Birth rate (per 1,000 population) 26.3 21.6 SRS Bulletin

Investments

FDI equity inflows (US$ billion) 1.371 332.11 Department of Industrial Policy & Promotion, From

April 2000 to March 2017

Industrial Infrastructure

PPP projects completed & operational (No) 175 1,565 DEA, Ministry of Finance, Government of India,

July 2017

Operational SEZs (No) 1 186 Ministry of Commerce & Industry, Department of

Commerce, July 2016

1Including Chhattisgarh PPP: Public Private Partnership, SEZ: Special Economic Zone, SRS: Sample Registration System


ECONOMIC SNAPSHOT – GSDP

At current prices, the gross state domestic product (GSDP*) of

Madhya Pradesh for 2016-17 stood at US$ 99.41 billion.

Between 2011-12 and 2016-17, GSDP of the state grew at a CAGR

of 15.2%.

Visakhapatnam port traffic (million tonnes) GSDP of Madhya Pradesh at current prices (in US$ billion)

49

.0

59

.1 6

7.9

74

.8

84

.4

99

.4

201

1-1

2

201

2-1

3

201

3-1

4

201

4-1

5

201

5-1

6

201

6-1

7

CAGR 15.2 %

Source: GSDP* - “Advanced Estimates” provided by Directorate of Economics and Statistics, Government of Madhya Pradesh


ECONOMIC SNAPSHOT – NSDP

The net state domestic product (NSDP#) of Madhya Pradesh was

about US$ 88.77 billion in 2016-17.

During 2011-12 and 2016-17, state’s NSDP grew at a CAGR of

about 15.16 per cent.

Visakhapatnam port traffic (million tonnes) NSDP of Madhya Pradesh at current prices (in US$ billion)

43

.8 5

1.8

60

.7 66

.7 7

5.1

88

.8

201

1-1

2

201

2-1

3

201

3-1

4

201

4-1

5

201

5-1

6

201

6-1

7

CAGR 15.16 %

Source: NSDP# - “Advanced Estimates” provided by Directorate of Economics and Statistics of Madhya Pradesh, Government of Madhya Pradesh


ECONOMIC SNAPSHOT – PER CAPITA GSDP

The state’s per capita GSDP in 2016-17 was US$ 1261.89 in 2016-

17.

Per capita NSDP in the state increased at a CAGR of 13.54 per cent,

during 2011-12 and 2016-17.

Visakhapatnam port traffic (million tonnes) Per capita NSDP of Madhya Pradesh at current prices (in US$)

66

8.6

9

79

5.5

2

90

0.9

5

97

7.6

8

10

87

.47

12

61

.89

201

1-1

2

201

2-1

3

201

3-1

4

201

4-1

5

201

5-1

6

201

6-1

7

CAGR 13.54 %

Source: Per capita NSDP& - calculated using NSDP million US$/ Population in million


ECONOMIC SNAPSHOT – PER CAPITA NSDP

The state’s per capita NSDP in 2016-17 was US$ 1,126.8 in

comparison with US$ 389.4 in 2005-06.

Per capita NSDP of the state increased at a CAGR of 13.5 per cent

during 2011-12 and 2016-17.

Visakhapatnam port traffic (million tonnes) Per capita NSDP of Madhya Pradesh at current prices (in US$)

59

8.4

69

7.4

80

5.5

87

2.0

96

7.5

11

26

.8

201

1-1

2

201

2-1

3

201

3-1

4

201

4-1

5

201

5-1

6

201

6-1

7

CAGR 13.5 %

Source: Per Capita GSDP^ - calculated using GSDP in million US$/population in million


ECONOMIC SNAPSHOT – PERCENTAGE

DISTRIBUTION OF GVA

In 2016-17, the tertiary sector contributed 39 per cent to the state’s

GVA at current prices, followed by primary sector with a contribution

of 41 per cent & secondary sector contributing 20 per cent.

At a CAGR of 15.32 per cent, the primary sector witnessed the

fastest growth among the 3 sectors, during 2004-05 to 2015-16. This

was driven by agriculture, forest & logging & fishing.

The tertiary sector expanded at a CAGR of 11.37 per cent between

2004-05 & 2015-16. Growth has been driven by trade, hotels, real

estate, finance, insurance, transport, communications & other

services.

The secondary sector expanded at a CAGR of 7.69 per cent

between 2004-05 & 2015-16 driven by manufacturing, electricity, gas

& water supply & construction sectors.

A 4-member team of the newly constituted happiness department is

to visit Bhutan in March 2017, to study & understand the Bhutanese

model, to execute, implement & achieve the objective. The

government has passed an amount of US$ 0.71 million in the

budget, for the same.

In May 2017, 'Rajya Anandam Sansthan' (Department of Happiness)

Madhya Pradesh government signed an MoU with IIT Kharagpur's

Rekhi Centre of Excellence for the Science of Happiness to

collaborate on the development of a Happiness Index for measuring

the well-being of the people of the state.

Visakhapatnam port traffic (million tonnes) GVA composition by sector

34%

41%

27% 20%

39% 39%

2011-12 2016-17

Primary Sector Secondary Sector Tertiary Sector

12.2%

16.1%

6.6%

CAGR

Source: Sector-wise %share of GSDPµ - “Advanced Estimates” provided by Directorate of Economics and Statistics of Madhya Pradesh, Government of Madhya Pradesh


ECONOMIC SNAPSHOT – AGRICULTURAL

PRODUCTION…(1/2)

Agriculture is the main source of livelihood for the people of the

Madhya Pradesh. In 2015-16, the state recorded utilisation of

22,501.8 thousand hectares of land for production of horticulture

crops.

Wheat, soyabean, gram, sugarcane, rice, maize, cotton, rapeseed,

mustard & arhar are the major crops of the state. In 2015-16, total

food grain production in the state stood at 27.88 million metric

tonnes.

In 2014-15, total pulses production in the state stood at around 4.82

million tonnes. In addition, the share of Madhya Pradesh in the

overall production of pulses in India was around 27.8%.

Madhya Pradesh is the largest producer of pulses, oilseeds

soyabean and gram in the country. The state is the 2nd highest

producer of wheat, masoor & mustard across India. It is one of the

leading producers of garlic & coriander. The production of wheat,

cotton, baajra, corn, gram, soyabean, mustard, groundnut, paddy,

jowar & corn in the state, is above the national average.

Total budget allocation for the agricultural & allied industries during

2016-17 is estimated to be US$ 843.42 million.

Crop Annual production – 2015-16 (‘000 MT)

Wheat 15,644.1

Fruits 6,290

Vegetables 14,797.74

Sugarcane 4,716.1

Onion 2,848

Rice 3,408.4

Food grains 27,876.6

Spices 699.10

Honey 1.8520

Coarse cereals 3,658.8

Total pulses 4,820

Source: MP State Facts Profile Department of Agriculture and Cooperation, National Horticulture Board, Aranca Research 1Thousand bales of 170 kg each


ECONOMIC SNAPSHOT – AGRICULTURAL

PRODUCTION…(2/2)

As per budget 2016-17, various seminars were conducted during 2015-16, for promotion & development of bio-products as well as bio-agriculture

in the state.

During 2016-17, the government decided to establish custom hiring centre & implement grant schemes for the delivery of agricultural instruments

across the state.

In order to overcome the drawbacks of National Agricultural insurance Scheme, a new scheme – Prime Minister Crop Insurance Scheme was

announced by the Prime Minister, which would be effective from 2016. As per budget 2017-18, provision of US$ 310 million has been made under

Prime Minister Crop Insurance Scheme for agriculture.

Moreover, for agricultural soil, water conservation as well as agricultural research & education, the state government has allocated an amount of

US$ 373.96 million as per the budget 2016-17.

During 2017-18, US$ 1.53 billion would be sanctioned by the state government for irrigation schemes and US$ 21 million for micro irrigation in the

state. Moreover, an allocation of US$ 118.8 million was made by the state government for horticulture & food processing sector.

Source: State Budget 2015-16


ECONOMIC SNAPSHOT – FDI INFLOWS &

INVESTMENTS

According to the Department of Industrial Policy & Promotion (DIPP),

cumulative FDI inflows1, from April 2000 to March 2017, totalled to

US$ 1.37 billion.

Power generation & manufacturing were the key sectors which

attracted the majority share of FDI inflow during 2014-15. In addition,

the investments in real estate & services are also gaining

momentum.

In 2014-15, exports from Madhya Pradesh reached US$ 4.19 billion

in value terms, reflecting a CAGR of 8.4% between 2008-09 &

2014-15

With a capital investment of US$ 488.62 million Government of

Madhya Pradesh approved 6 projects in January 2017.

Visakhapatnam port traffic (million tonnes) FDI equity inflows1, 2008-09 to 2016-17 (US$ million)

44

54

45

1

12

3

22

0

11

9

10

0

80

76

200

8-0

9

200

9-1

0

201

0-1

1

201

1-1

2

201

2-1

3

201

3-1

4

201

4-1

5

201

5-1

6

201

6-1

7

Source: Department Of Industrial Policy & Promotion1 Including Chhattisgarh


STATE BUDGET 2016-17

Annual budget allocation in the state, for 2016-17, is proposed to be US$ 9.76 billion.

Sector Budget - 2016-17 (US$ million)

Agriculture & allied activities 704.9

Rural development 2,233.04

Irrigation and flood control 1,528.7

Industry and mining 424.77#

Transport 20.18

Science, technology and environment 36.4

General economic services 141.58#

Social services 4,635.95#

General services 92.11

Source: State Budget 2017-18

Note: #State Budget 2016-17


PHYSICAL INFRASTRUCTURE – ROADS

Madhya Pradesh has 20 national highways measuring 5,184.57 km.

The state also has 10,859 km of state highways.

Development of major roads in the state is managed by Madhya

Pradesh Road Development Corporation Limited (MPRDC), which

executes tasks taken up under Public–Private Partnership (PPP) &

those supported by Asian Development Bank (ADB). As per the

Department of Economic Affairs, the state had 131 government PPP

projects in the roads sector at various stages of development.

Under Prime Minister Graamin Sadak Yojana, during 2016-17, the

state government set a target of constructing around 2,000 km of

roads in the state.

For the development of various roads in the state, allocation of US$

1.12 billion has been proposed by the state government

As per the Budget Scheme 2015-16 construction of 7,575 roads with

total length of 19,386 km for linking 9,109 villages under

Mukhyamantri Gram Sadak Yojana was targeted by the Government

of Madhya Pradesh. As per budget 2017-18, provision of US$ 62.08

million under Mukhyamantri Gram Sadak Yojana & that of US$ 28.86

million for State Rural Road Connectivity Scheme, have been made.

In February 2017, the cabinet sanctioned the renovation of 10,000

km of rural roads, under the Chief Minister's Rural Roads Scheme.

Road type Road length (km) (2015)

National highways 5,193.571

State highways 10,859

Major district roads 19,574

Village roads 24,209

Road length 59,835

As per the state budget 2016-17, work on development of various

district roads had started in 2015-16 and the renovation of these

roads is expected to be completed over a span of three years.

However, for this purpose, the state government is trying to secure a

loan from ADB as well as new development banks.

As of November 2016, the New Development Bank created by

BRICS countries approved a loan of US$ 350 million for the

development of major district roads in the state.

Source: NHAI, Ministry of Road Transport & Highways, State Budget 2016-17 12015-16


PHYSICAL INFRASTRUCTURE – RAILWAYS

Madhya Pradesh has around 4,954 km of railway lines & the state is

connected to different states of the country through more than 425

trains which travel on daily basis.

The railway network in Madhya Pradesh primarily falls under the

West-Central Railways, which was formed in 2002 and is

headquartered in Jabalpur. Part of the state is also covered by

Central & Western Railways.

Being centrally located, the railway network in the state assumes

great significance. Madhya Pradesh’s capital, Bhopal is one of the

foremost railway junctions in the country, as 220 trains travel

through the capital alone.

Mineral & agro-based industries in Madhya Pradesh are highly

dependent on the railway network of the state. It supports these

industries by transporting bauxite, limestone, dolomite, clinker,

fertiliser & de-oiled cake.

As per annual budget 2016-17, construction work on phase-I of 28

km long Bhopal metro rail & 31 km long Indore metro rail was

initiated in 2015-16 & is expected to be completed by 2018-19. For

these projects, a total loan of US$ 458.30 million & US$ 1.83 billion

would be provided by the central government as well as Japan

International Corporation Agency respectively. It awaits clearance

from the Union government.

In June 2017, Bhopal’s railway station Habibganj became the

country’s 1st railway station to be redeveloped into an attractive

commercial hub with hotels, offices & shops under a public-private

partnership within the next three years. The project for maintenance

& operations has been given to Bansal Group for 8 years.

Moreover, during 2016-17, the state government allocated US$

69.04 million for construction work on phase-I of the 28 km-long

Bhopal metro rail & 31 km-long Indore metro rail.

In December 2016, Madhya Pradesh Cabinet approved the detailed

project reports (DPRs) of the Metro rail projects for Bhopal & Indore,

costing US$2.12 billion

Source: Maps of India


PHYSICAL INFRASTRUCTURE – AIRPORTS

Madhya Pradesh has 5 operating airports at Jabalpur, Bhopal,

Indore, Gwalior & Khajuraho.

Indore & Bhopal airports are the busiest airports in the state. In

March 2017, passenger traffic at Indore airport reached 163,996

passengers with overall aircraft movement of 1,393 aircrafts. For the

same month, passenger traffic at Bhopal airport was 51,487

passengers with overall aircraft movement of 538 aircrafts.

Both Indore & Bhopal airports have strong cargo handling capacity.

In March 2017, Indore airport handled 797 tonnes of cargo, whereas

Bhopal airport handled 89 tonnes of cargo. Modernisation work of

Bhopal & Indore airports has also been completed. The government

has announced to undertake development of Gwalior & Khajuraho

airports under the 12th Five Year Plan.

Airport 2015-16 2016-17

Indore 1,692,892 1,784,073

Bhopal 662,615 676,015

No. of passengers

Airport indicators in Madhya Pradesh

Airport 2015-16 2016-17

Indore 14,858 14,396

Bhopal 7,755 6,949

Aircraft movement

Airport 2015-16 2016-17

Indore 6,992 7,668

Bhopal 1,153 904

Freight (in tonnes)

Source: Airports Authority of India


PHYSICAL INFRASTRUCTURE – POWER … (1/3)

In June 2017, Madhya Pradesh had total installed power generation

capacity of 19,766.25 MW, comprising 5,867.62 MW under state

utilities, 4,770.70 MW under central utilities & 9,127.93 MW under

the private sector.

Of the total installed power generation capacity, 12,731.70 MW was

contributed by thermal power, 3,223.66 MW was contributed by

hydropower, 273.00 MW was contributed by nuclear power &

renewable power contributed 3,537.89 MW.

Madhya Pradesh is on its way to become a solar power hub, with

114 projects currently.

The total budget allocation for the energy sector in the state is

estimated to be US$ 2.6 billion during 2017-18.

In May 2017, 2 new indigenous nuclear power reactors of 700 MW

capacity each have been approved by the Union Government. The

reactors will be built at Chutka in Madhya Pradesh.

Installed power capacity (MW)

8,5

74

9,3

51

12

,90

2

14

,25

9

15

,84

5

18

,57

1

19

,76

6

2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17

Break-up of installed capacity by source of power generation

(2016-171)

65%

16%

18% 1%

Thermal Power

Hydropower

Renewable Power

Nuclear Power

Source: Central Electricity Authority

Source: Central Electricity Authority; (1) – Figures as of June 2017



Madhya Pradesh Power Generating Corporation Ltd. is a state

owned company engaged in electricity generation.

The power distribution business is being managed through 3

government-controlled entities: Madhya Pradesh Poorv Kshetra

Vidyut Vitaran Company Ltd., Madhya Pradesh Paschim Kshetra

Vidyut Vitaran Company Ltd., & Madhya Pradesh Madhya Kshetra

Vidyut Vitaran Company Ltd.

Madhya Pradesh Power Transmission Company carries out intra-

state transmission of electricity, State Transmission Utility & State

Load Dispatch Centre.

Madhya Pradesh Power Trading Corporation Ltd. deals with power

trading & other related activities.

Segment Company name

Power generation Madhya Pradesh Power Generating

Corporation Limited

Power distribution

Madhya Pradesh Poorv Kshetra Vidyut

Vitaran Company Limited (MPPoKVVCL)

Madhya Pradesh Paschim Kshetra Vidyut

Vitaran Company Limited (MPPaKVVCL)

Madhya Pradesh Madhya Kshetra Vidyut

Vitaran Company Limited (MPMaKVVCL)

Power transmission Madhya Pradesh Power Transmission

Corporation Limited

Power trading Madhya Pradesh Power Trading Corporation

Limited

Distributor Area covered

MPPoKVVCL Jabalpur, Sagar, Shahdol and Rewa

MPPaKVVCL Indore and Ujjain

MPMaKVVCL Bhopal, Hoshangabad, Gwalior and Chambal

MPPoKVVCL Jabalpur, Sagar, Shahdol and Rewa

MPPaKVVCL Indore and Ujjain

Source: Energy Department-Government Of Madhya Pradesh



Through the Atal Jyoti Abhiyaan, the state government aims to provide round-the-clock quality power supply.

The scheme is currently operational in six districts, namely Jabalpur, Mandla, Shahdol, Umaria, Anooppur and Burhanpur.

Under project name Vindhyachal, NTPC has commissioned the country’s largest power generation plant in the state. Unit-13 of Vindhyachal TPP-

V, with capacity of 500 MW, was commissioned in August 2015. With this the total approved capacity of 4,760 MW was installed by the company.

The coal based Sasan UMPP aims to build large capacities at low cost. The resultant generated power would be sold at low tariffs. In April 2015,

the 3,960 MW Sasan ultra mega power project was fully commissioned in Madhya Pradesh. The project is being developed with an investment of

US$ 4.21 billion. As of April 2016, the plant had achieved 100 per cent PLF (plant load factor).

The Government of Madhya Pradesh allocated US$ 28.1 million for the development and promotion of new and renewable energy in the state

during 2016-17.

In April 2017, the state government signed a project agreement with solar power companies for Rewa Ultra Mega Solar Park. The project is being

led by Rewa Ultra Mega Solar Ltd. (RUMSL), a joint venture between the Solar Energy Corporation of India (SECI) and Madhya Pradesh Urja

Vikas Nigam Limited (MPUVN). International Finance Corporation (IFC), a member of the World Bank Group, will mobilise US$ 550 million in

private investment for the project.


PHYSICAL INFRASTRUCTURE – TELECOM

According to Telecom Regulatory Authority of India (TRAI), Madhya

Pradesh had nearly 69.55 million wireless subscribers & 1.029

million wireline subscribers, as of March 2017.

As of March 2017, teledensity (telephone connections per 100

persons) in Madhya Pradesh was 114.75%.

The state has been identified by Ministry of Home Affairs for

provision of Telecom Connectivity in LWE affected areas. The

scheme is being executed by BSNL.

The state has given consent for establishment of BharatNet/ National

Optical Fibre Network (NOFN) project. The project is planned to

connect all gram panchayats through optical fibre, utilising existing

fibres of PSUs viz. BSNL, RailTel & Power Grid & laying incremental

fibre wherever necessary to bridge the connectivity gap between

gram panchayats (GPs) and blocks, for providing broadband

connectivity.

Some of the major telecom operators in Madhya Pradesh

Bharat Sanchar Nigam Limited (BSNL)

Bharti Airtel

Vodafone Essar

Idea Cellular

Reliance Communications

Tata Teleservices

Telecom infrastructure - as of March 2017

Wireless subscribers 69,550,000

Wire-line subscribers 1,029,048

Internet subscribers1

24,770,000

Teledensity (in%) 114.75

Source: Telecom Regulatory Authority of India, Department of Telecommunications 1As of December 2016


DEVELOPMENT PROJECTS: URBAN

INFRASTRUCTURE … (1/3)

Under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), 27 projects costing around US$ 418.65 million were sanctioned for the

development of urban centers such as Bhopal, Indore, Jabalpur and Ujjain.

Some of the key undertakings are in segments such as roads and flyovers, water supply, tempest-water drainage, sewerage, solid-waste

management and mass rapid transport systems.

The Asian Development Bank (ADB) has funded 16 ventures worth US$ 33.8 million for Bhopal in the regions of water supply, sewerage and

sanitation, tempest-water drainage and solid-waste management. Of the 16 undertakings, two have been finished and others are at different

phases of development.

The state government has built the Madhya Pradesh Urban Infrastructure Fund (MPUIF) for the improvement of urban framework and the

procurement of better administration in the state. MPUIF helps in sourcing funds for projects through various sources, for example capital markets,

line of credits and GOI fund (e.g. JNNURM, UIDSSMT, PFDF, VGF, and RAY). The fund ensures cost administration and timely implementation of

urban framework ventures.

Under the Urban Infrastructure and Governance (UIG) program of JNNURM, five projects worth US$ 36.4 million covering cities such as Bhopal,

Indore and Ujjain have been approved and are in the transition phase.

Under the first phase of Chief Minister Infrastructure Development Scheme, work on development of roads, gardens, footpaths, street lights, etc.

was completed in across 277 cities of the state during 2015-16.

Under Swachh Bharat Mission, a total of 5,068 seats were constructed in around 145 thousand personal and public toilets of the state, as of 2015-

16.

In 2017 under Swachh Bharat Mission, Indore was declared the cleanest city whereas Bhopal was second out of approximately 500 cities.

In 2015, Madhya Pradesh came up with set of programs and policies to make itself a manufacturing hub, with an aim to push for Make-in-Madhya

Pradesh initiative with focus on MSMEs.

In May 2017, the state government announced that it will build 2 million households over the next two years for the urban and rural poor. Each

house will be built with US$ 4,462.29 in centre-state subsidy and US$ 2,974.86 in state supported financing.

Source: Bhopal Municipal Corporation, NNURM, Ministry of Urban Development, Government of India




As per the budget 2016-17, following announcements were made for enhancement of urban infrastructure in the state:

• Allocation of US$ 1.63 billion was proposed by the state government for urban administration and development in the state.

• For the second phase of Chief Minister Infrastructure Development Scheme, the state government proposed an allocation of US$ 42.10 million.

• Under Affordable Housing in Partnership scheme, for each dwelling slum area, US$ 86 thousand was allocated by the central and the state

government.

• Provided sanction for the construction of 634 community and 1,77,807 individual toilets under Mukhya Mantri Shahri Swacchata Mission.

• The promotion of e-Governance has been started in the urban region of the state by E-Nagar Palika Project. For increasing developmental

activities in the state, a sum of US$ 1.09 billion will be provided by the government to the state.

• By 2018, the government is also aiming to provide 5,00,000 houses in different cities of the state, and allocated US$ 543.2 million under

Pradhan Mantri Awas Yojna.

• Provided sanction for development of 60,000 houses for the urban poor by an allocation of US$ 248.8 million under urban development

scheme. In addition to this, a sanction of US$ 139.5 million was also provided for 15,340 houses under Rajeev Awas Yojna.

• HDFC Bank is planning to set up 10 new branches in Madhya Pradesh as a part of its expansion plan. In 2016 the bank had 130 branches in

MP, and 8-10 new branches are being planned to be opened in the state in current financial year.

• US$ 155 million was allocated to ‘Housing for All’ scheme in urban areas and USD 1.78 billion to Urban Administration and Development.

• The presence of numerous prominent technical, management and other professional institutes have made Madhya Pradesh an ideal

destination for startups hub.

• Madhya Pradesh has aligned with the Government of India’s “Startup India Vision” by creating conducive innovative and technological

entrepreneurial ecosystem through ‘MP Incubation & Startup Policy 2016’ to encourage and promote a Startup culture within the state.

• In the state budget of 2017-18, the government allocated US$ 123.7 million for self-employment schemes under Industries and Employment.

Source: Budget 2016-17




Focus areas of urban development in Madhya Pradesh

Water supply Sewerage system Solid-waste management Others

The average per capita water

supply in major cities, such as

Indore, is around 80 litres per

day.

Under the JNNURM, cities are

being planned to achieve per

capita water supply of 135 litres

per day between 2015 and

2021.

Sixty seven projects worth US$

243.8 million were approved

between March 13 and March

2014 and are in the transition

phase for water supply under

JNNURM.

During 2015-16, the

government proposed an outlay

of US$ 355.87 million for

improving rural & urban water

supply under the Water Supply

and Sanitation Scheme.

In cities such as Indore, around

55% of the population is

connected to a sewage

network.

Under the JNNURM, the entire

population in the cities will be

connected to the sewage

network.

Three projects worth US$ 100

million were sanctioned in

2006-07 for sewage treatment

under JNNURM.

Indore and Ujjain generate

around 500 tonnes per day

(TPD) and 160 TPD of solid-

waste, respectively.

Under the JNNURM, the entire

solid waste is expected to be

collected and treated.

A project worth US$ 10.7

million was sanctioned.

Three solid waste management

projects have been identified in

Dewas, Sagar and Katni.

Two projects worth US$ 75.6

million were sanctioned

between 2006-07 and 2009-10

for improvement of the

drainage systems.

Seven projects worth around

US$ 139.5 million were

sanctioned for improvement of

the transport system.

Source: MP Trade & Investment Facilitation Corporation Ltd., JNNURM, Ministry of Urban Development, Government of India, Aranca Research


DEVELOPMENT PROJECTS: KEY PUBLIC PRIVATE

PARTNERSHIP PROJECTS … (1/2)

Name of project Sector PPP type Status Project cost (US$ million)

Road upgradation (Lebad-Jaora) Project Build-Operate-Transfer (BOT) Transport 64.30 Operation and maintenance stage

Road Upgradation Project (Bankhlafata-

Kogawa-Borawa-Sarvardevala) Project Not available Transport 5.14 Operation and maintenance stage

Road upgradation (Jaora-Nayagaon)

Project Build-Operate-Transfer (BOT) Transport 61.73 Operation and maintenance stage

Road Upgradation Project (Bahari-

Hanumana) Project

Design-Build-Finance-

Operate-Transfer (DBFOT) Transport 16.32 Operation and maintenance stage

Road Upgradation (Bhopal-Dewas)

Project



Road Upgradation Project (Badwani-

Palsood-Sendhawa) Project



Road Upgradation Project (Ashok Nagar-

Vidisha) Project

Build-Operate-Transfer (BOT)

Annuity Transport 13.31 Operation and maintenance stage

Electricity Distribution Project (Ujjain) Not available Energy 10.70 Operation and maintenance stage

Road Upgradation Project (Ashapur-

Khalwa-Singhot) Project

Build-Operate-Transfer


Dewas-Ujjain-Badnagar-Badnawar Road

Project Build-Operate-Transfer (BOT) Transport 7.53 Operation and maintenance stage

Road Upgradation Project (Alirajpur-

Jobat) Project



Source: Department of Economic Affairs


DEVELOPMENT PROJECTS: KEY PUBLIC PRIVATE

PARTNERSHIP PROJECTS … (2/2)

Name of project Sector PPP type Status Project cost (US$ million)

Road Upgradation Project (Waraseoni-

Lalbarra) Project



Road Upgradation (Tyonda-Ganjbasoda)

Project



Road Upgradation Project (Umari-Phoop-

Pratapur) Project



Road Upgradation Project (Ujjain-Unhel-

Nagda-Ghiloda) Project



Road Upgradation Project (Ujjain-

Simhastha) Project



Road Upgradation (Gwalior-Bhind up to

UP Border) Project Build-Operate-Transfer (BOT) Transport 45.85 Operation and maintenance stage

Road Upgradation Project (Uchera-

Nagod-Singhpur-Kalinnjer Road) Project



Road Upgradation (Sheopur-Badora-

Khawajapur) Project



Road Upgradation Project (Tikamgarh-

Mehironi) Project



Road Upgradation (Dehgaon-Bamori)

Project



Road Upgradation Project (Tikamgarh-

Jatara-Palera-Nowgaon) Project



Source: Department of Economic Affairs


DEVELOPMENT PROJECTS: SPECIAL ECONOMIC

ZONES (SEZs) … (1/2)

The state has one operational SEZ with the name Crystal IT Park

SEZ for IT & ITeS enabled services.

The SEZ aims to provide an international, competitive and hassle-

free environment for export-oriented production.

It is exempted from custom duty on import of capital goods, raw

material and spares, among others. No licence is required for

imports.

Central excise duty is exempted on procurement of capital goods,

raw material and spares among others from the domestic market.

Barring a few sectors, 100% FDI in the manufacturing sector is

allowed through the automatic route.

Some of the key companies in Indore SEZ

SRF

Flexituff

India Nets

New Tech Pipes

Advance Enzyme Technology

Ipca Laboratories

Amulya Exports

Emerald Tobacco

Pratibha Synte

Indore SEZ

Notified area 1,113.72 hectares

Processing zone 519.95 hectare

Operational 26 industrial and 2 trading units

Number of allotments 123

Number of units operating 42

Investment under implementation US$ 62.2 million (9 units)

Exports (as of June 2017) US$ 214.54 million

Source: Ministry of Commerce & Industry


DEVELOPMENT PROJECTS: SPECIAL ECONOMIC

ZONES (SEZs) … (2/2)

As of July 2017, the state had 9 formal approved SEZs that are

proposed to be set up in Madhya Pradesh.

Bhopal, Indore, Gwalior and Jabalpur are the major locations where

SEZs have been approved. These SEZs have been proposed for

IT/ITeS, mineral-based, agro-based and multi-products.

Industry Location No of SEZs

Formally approved SEZs as of July 2017

IT/ITeS Indore, Gwalior, Jabalpur,

Bhopal 8

Gems and Jewellery Indore 1

In-principle approved SEZs

Multi-product Chhindwara, Sehore 1

Notified SEZs as of July 2016

IT/ITeS Indore, Gwalior 5

Source: Special Economic Zones in India- Ministry of Commerce & Industry, Aranca Research


SOCIAL INFRASTRUCTURE – EDUCATION.. (1/2)

Madhya Pradesh had a literacy rate of 70.6%; the male literacy rate

is 80.5% and the female literacy rate is 60.0%.

During 2015-16 (till November 2015), under technical education, the

state had a total of 676 institutions with annual enrolment of 146

thousand students.

Moreover, under the “Gaon Ki Beti Yojna”, which deals in providing

rural girls with high education, 36.79 thousand girls were benefited

during 2015-16 (till December 2015).

“Make in Madhya Pradesh” is to further the agenda of CM who

recently called upon a business community from the US to bring their

expertise in the social sectors.

Category Literacy rate (%)

Total 70.6

Male 80.5

Female 60.0

Reputed institutes of Madhya Pradesh

Indian Institute of Management (IIM), Indore

Indian Institute of Forest Management, Bhopal

Institute of Hotel Management, Bhopal

International Institute of Professional Studies, Indore

Indian Institute of Technology (IIT), Indore

Educational institutions (as of 2016-17)

Primary schools 83,983

Total high schools (including private) 4,774

Total higher secondary schools (including private) 5,211#

Government colleges 457

Universities 16#

Polytechnic institutes 69

Engineering & architecture colleges 232

Management institutes 266#

Medical colleges 13#

Dental Colleges 11#

Source: AICTE, Directorate of Technical Education, Madhya Pradesh, Higher Education Department- Government colleges of Madhya Pradesh, Madhya Pradesh Education Portal,

National Health Portal, Aranca Research

Note: #Figures as of April 2015


SOCIAL INFRASTRUCTURE – EDUCATION.. (2/2)

The state has one approved institute with foreign collaboration for the course of business studies. The name of the institute is Daly College

Business School and is affiliated to De Montfort University, Leicester, UK.

As per the budget 2017-18, the government proposed an allocation of US$ 3.08 billion, US$ 355.97 million & US$ 212.21 million for the

development of school education, higher education & medical education departments in the state.

Under Rashtriya Madhyamik Shiksha Abhiyan, allocation of US$ 75.61 million was proposed by the state government during 2016-17.

During 2017-18, the state government is targeting upgradation of 520 high schools & 240 higher secondary schools.

The Government of Madhya Pradesh has committed US$ 237 99 million, for expansion of training infrastructure & building capacity for skill

development in the state in January 2017 The scheme will be implemented over a period of 5 years & aims to generate employment for youth &

provide desired skillset & manpower to the industries.

In the budget 2017-18, the government proposed an allocation of US$ 15.52 million under skill development scheme.

In May 2017, the state government had decided to teach engineering in Hindi from the new academic session. The students will be asked to

choose between English and Hindi medium of study during admission to engineering courses.

Source: AICTE


SOCIAL INFRASTRUCTURE – HEALTH

During 2014-15, the healthcare services network of Madhya Pradesh

comprised 51 district hospitals, 334 community health centres, 1,171

primary health centres and 9,192 sub-health centres.

During 2015-16 (till October 2015), around 965 thousand

beneficiaries were benefited with free services under Deendayal

Hospital Yojana.

The state has a total of 604 ambulances under National Ambulance

Service, using which 479 thousand patients were benefited during

April-October 2015.

Health institutions (2014-15)

District hospitals 51

Primary health centres 1,171

Sub-Health centres 9,192

Community health centres 334

Civil hospitals 66

Homeopathic hospitals 2

Special newborn care units 53

Nutrition rehabilitation centres 316

Gram aarogya kendras 48,959

The state government proposed an allocation of US$ 883.5 million

for the development of Public Health And Family Welfare

Department in the state, during 2017-18.

Under Public Health Engineering, an allocation of US$ 569.58 million

was made by the state government, as per the state budget 2017-18.

Health indicators of Madhya Pradesh

Birth rate1

26.3

Death rate1

8.0

Infant mortality rate2

54

Life expectancy at birth (years)

Male (2011-15) 64.5

Female (2011-15) 65.3

Source: Ministry of Health & Family Welfare, Government of India, Sample Registration System (SRS) Bulletin, 1Per thousand persons, 2Per thousand live births


CULTURAL INFRASTRUCTURE

Madhya Pradesh’s history dates back to the pre-historic age. The

United Nations Educational, Scientific and Cultural Organisation

(UNESCO) has declared 3 locations in the state as heritage sites:

temples at Khajuraho, Buddhist monuments at Sanchi & rock

shelters of Bhimbetka.

Bhimbetka cave paintings are the biggest repository of prehistoric art

in India. Sanchi Stupa, once a centre of Buddhist learning, stands

unique as one of the most well-preserved stupas of India. The

Directorate of Archaeology, Archives and Museums, is in charge of

the support of 349 memorials/landmarks and 44 museums over the

state.

The state government has built up sports academies to advance

games like hockey, shooting, equestrian, water sports & martial arts.

Eminent sports personalities are awarded with the Vikram Awards,

the Ekalavya Awards & the Vishwamitra (lifetime achievement)

Award.

In order to enhance the cultural infrastructure in the state, the

Government of Madhya Pradesh had allocated US$ 30.12 million

during 2016-17.

For sports & youth welfare in the state, an allocation of US$ 34.73

million was proposed by the Government of Madhya Pradesh, as per

state budget 2017-18.

Type of museum (no)

State-level museums 6

District-level museums 12

Local museums 7

Site museums 6

District Archaeological

Association museums 16

Among the cultural festivals of Madhya Pradesh, the Khajuraho

Festival of Dance & the Tansen Music Festival in Gwalior celebrate

classical Indian dance & music. These festivals are well attended by

both domestic & international tourists. The state government will also

provide an amount of US$ 34 million in the state budget of 2017-18

in order to increase the activities related to culture & archaeology.

State-level museums in Madhya Pradesh

State Museum, Bhopal

Central Museum, Indore

Rani Durgawati Museum, Jabalpur

Tulsi Museum, Ramvan, Satna

Maharaja Chhatrasal Museum, Chhatarpur

Gujri Mahal Museum, Gwalior

Source: Directorate of Archaeology, Archives and Museums, Government of Madhya Pradesh; State Budget 2015-16


INDUSTRIAL INFRASTRUCTURE … (1/4)

Madhya Pradesh State Industrial Development Corporation Limited (MPSIDC) is the nodal agency for industrial growth in the state. It is the central

point to coordinate, activate and ensure implementation of mega infrastructure projects.

MPSIDC has identified 19 industrial growth centres to attract medium and large industries & Non-Resident Indians (NRls) to the state and provide

various facilities and concessions to them. For a balanced & sustainable growth of industry across the state, MPSIDC established 7 growth

centres at Bhopal, Gwalior, Jabalpur, Indore, Rewa, Ujjain & Sagar. These growth centres are known as Madhya Pradesh Audyogik Kendra Vikas

Nigam Limited (AKVN).

Infrastructure Bhopal AKVN Gwalior AKVN Jabalpur AKVN

Area developed (hectares) 1,367 2,062 1,312

Growth centres Mandideep, Pillukhedi Malanpur, Ghirongi, Banmore,

Chainpura Borgaon, Maneri

Units established Large and medium industries (LMI): 54

Small scale industries (SSI): 558

LMI: 69

SSI: 346

LMI: 17

SSI: 154

Major companies

HEG, Crompton Greaves, Procter &

Gamble, Godrej, Lupin, Oswal,

Vardhman

Surya Roshini, Godrej, Grasim,

Cadbury, JK, Crompton Greaves

Raymond, Hindustan Petroleum,

Ayur

Special infrastructure Inland Container Depot (ICD), Food

Park ICD, food park, stone park

Stone park, food park, mineral &

Agri specific SEZ

Proposed project Engineering cluster, logistic hub, food

park, plastic park, textile park

Readymade garment park, food

park

Agri SEZ, food park, textile park,

apparel park

Source: MP Trade & Investment Facilitation Corp. Ltd.



Infrastructure Indore AKVN Rewa AKVN Ujjain AKVN Sagar AKVN

Area developed (hectares) 3,332 307.4 431.6 359

Growth centres Pithampur, Kheda, Megh

Nagar Rewa, Waidhan, Purena Dewas, Maxi

Purena, Sidhgawa,

Pratappura

Units established LMI:272, SSI: 1213 LMI: 8, SSI: 99 LMI: 35, SSI: 171 LMI: 9; SSI: 199

Major companies

Eicher, Bridgestone,

Hindustan Motors, Man

Force, Flexituff, Kinetic,

Cummins

Birla, Jaypee Ranbaxy, S.Kumars,

Gajra, Kirloskar, Tata

Ghadi Detergent, RSPL

(Rohit Surfactant),

Sanmati Foods

Special infrastructure

Multi-product SEZ, IT SEZ,

Food Park, Apparel Park,

Inland Container Depot

(ICD), IIDC

IIDC Food park, IIDC IIDC

Proposed projects

Auto testing track, food

park, pharma cluster,

namkeen park, logistics

park

Industrial area

Knowledge city, new

industrial area under the

Delhi Mumbai Industrial

Corridor project

Industrial Area

Source: MP Trade & Investment Facilitation Corp. Ltd., SEZ: Special Economic Zone



The Industrial Promotion Policy 2010 aims to upgrade industrial

infrastructure & provide land to investment projects without

difficulties.

Under the provision of Madhya Pradesh Investment Facilitation Act

2008, the state government is keen to strengthen its single-window

system to attract investments.

For a structured growth, the government has divided the state into 6

clusters: Indore, Bhopal, Jabalpur, Gwalior, Rewa & Sagar.

The state has excellent infrastructure, with 19 industrial development

parks, 129 industrial areas, 6 food parks, 8 integrated development

centres, 3 dry parks, 1 stone park, 1 IT park, 1 SEZ & an apparel

park at Indore.

A gems & jewellery park is being developed in Indore to promote the

diamond industry in the state. The government plans to develop the

project on its own, after failed attempts to find a suitable partner on

PPP basis.

State owned NTPC plans to construct a 2,640 MW power plant in

Barethi in Chattarpur district of Madhya Pradesh at a cost of US$ 3

billion. As of July 2016, the project was still awaiting clearance from

the Expert Appraisal Committee (EAC) of Union Environment

Ministry. The committee has sought additional information with

respect to clearance from National Board for Wildlife.

Potential clusters

Indore Pharmaceutical, textile, food processing, IT, auto

components

Bhopal Engineering, textile, biotech, herbal, IT, food processing

Jabalpur Garment, mineral, stone, forest, herbal, food processing

Gwalior Electronics, IT, FMCG, engineering, stone, food

processing

Rewa Mineral, cement, forest produce

Sagar Mineral processing, stone

Under the Centre’s Plastic Park Scheme, Industries & Commerce

Department is developing plastic parks at an estimated cost of US$

27.93 million at Tamot in Raisen and Billoa district, Gwalior.

Source: MP Facilitation Centre for NRI, Indore Special Economic Zone, www.indoresez.nic.in, Aranca Research, SEZ: Special Economic Zone



Bhopal

Gwalior

Rewa

Sagar

Indore

Jabalpur

Industrial clusters in Madhya Pradesh

Source: Maps of India, Madhya Pradesh State Industrial Development Corporation


SMART CITIES

As of March 2017,Madhya Pradesh was the first state to get 3 cities

shortlisted to be developed according to the smart cities parameters

for making them citizen friendly and sustainable.

In an effort to revolutionise the infrastructure of the state, the state

government decided to revamp 7 cities of Madhya Pradesh, namely

Bhopal, Indore, Gwalior, Ujjain, Jabalpur, Sagar & Satna.

Cities Population Literacy rate

Bhopal 2,371,061 80.37%

Indore 3,276,697 80.87%

Gwalior 2,032,036 76.65%

Ujjain 1,986,864 72.34%

Jabalpur 2,463,289 81.07%

Sagar 2,378,458 76.46%

Satna 2,228,935 72.26%

Smart cities in Madhya Pradesh

Bhopal

Indore

Gwalior

Ujjain

Jabalpur

Sagar

Satna

Source: News Article, Census 2011 & Aranca Research


KEY INDUSTRIES.. (1/2)

Wealth of natural assets including agro-based items, forest products

& minerals, the state’s policy incentives & its central location have

pulled in significant investments in the agro-products, consumer

goods, medications & pharmaceuticals, mines & minerals,

manufacturing & textiles sectors.

The state government is keen to develop a strong mechanical base.

The Madhya Pradesh State Industrial Development Corporation

Limited (MPSIDC) & its subsidiary, Madhya Pradesh Audyogik

Kendra Vikas Nigam Limited (MPAKVN) are the key nodal offices for

development in the state.

Some of the major industrial areas in the state are Bhopal, Sehore,

Raisen, Harda, Mandideep, Dewas, Pithampur, Khandwa, Jhabua,

Dhar, Ujjain, Mandsaur, Ratlam, Jabalpur, Indore, Shajapur, Satna &

Gwalior.

Under Industrial Promotion Policy 2010, the government aims to

promote agro-based & local natural resource-based industries.

Tertiary sector was the largest contributor to the state economy with

a share of 43% of GSDP in 2015-16.

In January 2017, the government approved Pacific Iron

Manufacturing Ltd. for setting up of an integrated steel plant to at an

estimated cost of US$ 49.83 million.

The government approved a coated fabric manufacturing plant which

was set up by Mayur Uniquoters Ltd. at Seetapur in Morena, worth

US$ 16.21 million of investment, in January 2017.

The government in January 2017, approved a furniture fittings &

manufacturing unit in Pithampur by Hettich India Pvt. Ltd., with an

investment of US$ 59.20 million.

Year IEMs filed Proposed investments (in US$ billion)

2010-11 226 33.89

2011-12 191 17.34

2012-13 126 1.75

2013-14 114 14.7

2014-15 99 2.03

2015-16 110 2.26

2016-171

28 0.59

Source: Madhya Pradesh State Portal, DIPP 1As of May 2016


KEY INDUSTRIES.. (2/2)

In the state budget 2017-18, for the rural industries, Government of

Madhya Pradesh allocated an amount of US$ 40.03 million. Further,

the work on installation of 25 industrial units over 2,344 hectare land

is under process. However, work on 6 industrial units along with

Crystal IT park, readymade garment park, etc. over an area of 295

hectares was completed during 2015-16.

After the validation of various self employment schemes in the state,

the government decided to start the Mukhya Mantri Yuva Udhyami

Yojana & Mukhya Mantri Aarthik Kalyan Yojana.

Work on construction of IT parks in 4 major regions of the state,

including Indore, Gwalior, Bhopal & Jabalpur, was initiated during

2016-17. Moreover, electronic manufacturing clusters are also being

established in Jabalpur & Bhopal. For these new establishments, the

Government of Madhya Pradesh allocated an amount of US$ 9

million as per the Budget 2017-18.

With an investment of US$ 2.97 billion, as of January 2017, Aditya

Birla Group is expanding its business in Madhya Pradesh, in sectors

like cement, retail & telecom.

In 2017-18 budget, the state government allocated US$ 24.7 million

for New & Renewable Energy.

Key industries in Madhya Pradesh

Auto and auto components

Textile

Cement

Agro-based industries

Forest based industries

Pharmaceuticals

Mineral based industries

Manufacturing

Tourism

IT and ITeS

Logistics & warehousing

Biotechnology

Source: Madhya Pradesh State Portal, State Budget 2016-17


KEY INDUSTRIES – AUTO AND AUTO COMPONENTS

… (1/2)

Strategic location of the state, with its proximity to the automotive

hub of NCR, provide key advantages for well-connected regions of

Madhya Pradesh to emerge as auto clusters.

Supported by facilities such as an auto testing track & auto research

centre, Pithampur region has emerged as a major auto cluster.

The essential infrastructure foundation existing in the automotive

cluster includes power, water supply, telecommunication services &

roads.

The Pithampur automotive cluster is among the industrial clusters in

India, which have been identified by the central government for

implementation of the Industrial Infrastructure Upgradation Scheme

(IIUS). The scheme aims at improving the competitiveness of

functional clusters across the country.

It has numerous automotive original equipment manufacturers

(OEMs), such as Force Motors, Eicher Motors, Hindustan Motors &

Mahindra 2-Wheelers, a major tyre producing unit of Bridgestone &

about 30 auto component & ancillary units.

Some key players

Eicher Motors Ltd

Force Motors Ltd

Hindustan Motors Ltd

Mahindra Two Wheelers Ltd


KEY INDUSTRIES – AUTO AND AUTO COMPONENTS

… (2/2)

Eicher Motors Limited, incorporated in 1982, is the flagship company of the Eicher Group in India and a leading

player in the Indian automobile industry. VE Commercial Vehicles Ltd (VECV), is a 50:50 joint venture between

the Volvo Group (Volvo) and Eicher Motors Limited (EML). The company has a state-of-the-art manufacturing

facility of buses and trucks at Pithampur with a production capacity of 48,000 vehicles, annually and an auto

component facility at Dewas (plant area of approximately 18,000 sq. m.). VECV is setting up a new engine plant in

the existing facility at Pithampur. The engine capacity was ramped up from 60,000 units to 160,000 units in the

financial year 2016-17. The company recorded revenues of US$ 1.08 billion, as of April 2017.

Force Motors is a vertically integrated automobile company, which designs, manufactures & markets its range of

vehicles – tractors, 3-wheelers, light commercial vehicles, multi-utility vehicles & heavy commercial vehicles. The

manufacturing plant at Pithampur was set up in 1987 under license from Daimler-Benz to manufacture utility

vehicles. The plant was further expanded in 1997. Subsequently, it also obtained ISO 9001:2000 certification in

2003. The total revenues recorded by the company stood at US$ 476.3 million, as of April 2017.

Hindustan Motors Limited (HML), the pioneer in automobile manufacturing in India, is the flagship company of the

C. K. Birla Group. The company manufactures passenger cars, multi-utility vehicles & Road-Trusted Vehicles

(RTV). In technical collaboration with Australian OKA Motor Company, HML manufactures RTVs in its plant at

Pithampur. The company’s total income stood at US$ 0.12 million in 2015-16.

Mahindra 2-Wheelers Limited was founded in 2008 when Mahindra & Mahindra Limited (M&M), India's leading

automotive companies took over Pune-based Kinetic Motor Company Limited (KMCL). The company has a state-

of-the-art, ISO 9001 certified manufacturing facility at Pithampur in Madhya Pradesh.

Eicher Motors Ltd

Force Motors Ltd

Mahindra Two

Wheelers Ltd

Hindustan Motors Ltd


KEY INDUSTRIES – TEXTILES … (1/3)

Madhya Pradesh is one of the major cotton producing states of India. In

2014-15, cotton was grown on an estimated area of 574,000 hectares in the

state with a total production of around 1.75 million bales (170 kg each).

Cotton textile mills are based in Indore, Dewas, Ujjain, Malanpur, Pithampur,

Khargone, Gwalior & Bhopal.

An apparel park is located in the Indore SEZ & spreads over 133.38 acres of

land. The project is implemented by M.P. Audyogik Kendra Vikas Nigam

(Indore) Ltd.

Indore has been identified as the region for infrastructure development

under the Textiles Centre Infrastructure Development Scheme (TCIDS). The

city is a cluster of the readymade garments industry with over 1,260

garment units.

Extending support to the industry, the state government has announced

plans to upgrade existing apparel clusters at Indore & Jabalpur. The state

government has established a textile park in Chhindwara.

The central government plans to develop a second textile park at Indore,

and US$ 6.6 million would be sanctioned for this purpose.

Textile Research Association and Export Promotion Council are to be set up

in Madhya Pradesh.

During FY 2015-16, Government of Madhya Pradesh proposed the following

outlays: US$ 103.66 thousand for implementation of Intensive Cotton

Development Programme; US$ 2.27 million for supply of electricity to power

loom weavers; US$ 38.19 thousand for institutional training to youth

weavers; US$ 380.69 thousand for integrated cluster development of

handloom / power loom & US$ 297.40 thousand for Handloom Development

Scheme.

Some key players

Century Textiles and Industries Ltd

Grasim Industries Ltd

Vardhman Textiles Ltd

Raymond Ltd

Textile infrastructure in Madhya Pradesh

Composite mills 20

Exclusive weaving units 8

Export oriented spinning units 12

Handlooms 47,000

Looms 6,500

Power looms 43,290

Power loom units 17,524

Rotors 14,348

Spindles 1,414,000

Spinning units 40

Source: Madhya Pradesh Business Line , Public-Private Partnerships in India, Madhya Pradesh State Industrial Development Corporation



To attract investments into the sector, the government has provided an

interest subsidy for 5 years at a rate of 5% for textile projects and 7% for

composite textile projects without capping. Furthermore, the government

provided 100% assistance in plant & machinery for 8 years under Industrial

Investment Promotion Assistance Scheme.

Production of 329.9 million kg of cotton yarn, was recorded in the state

between April-June 2015.

Under the Comprehensive Handloom Development Scheme (CHDS) &

National Handloom Development Programme Scheme (NHDP), the financial

assistance released in the last 3 years i.e. 2012-13 to 2014-15 & the current

year 2015-16 in the state stood at US$ 0.07 million.

For the year 2016-17 (upto November 2016), the state recorded 53.51 MT of

total raw silk production.

As per the budget 2015-16, to enhance the mulberry silk production in the

state, the state government is targeting to provide employment opportunities

to 24,940 beneficiaries.

In January 2017, the government approved a textile project to Vardhman

Textile Ltd., at Mandideep, Sallapur & Budhni for modernisation &

expansion, with an estimated investment of US$ 215.68 million.

An expansion project was granted to Sagar Manufacturing Pvt. Ltd. at

Tamot, with investment worth US$ 139.32 million in January 2017.

In January 2017, the Defence Ministry announced its plans to set up a unit

of national importance at Morena, with investment worth US$ 223.11 million.

Cotton production (in lakh bales) in Madhya Pradesh

20

.0

18

.0

15

.3

17

.7

20

.0

22

.0

17

.3

17

.5

18

.0

FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15* FY16*

Cotton productivity (in kgs/hectare) in Madhya Pradesh

54

0.0

49

0.0

42

4.0

46

3.0

48

1.6

61

5.1

57

2.2

51

8.3

55

9.0

FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15* FY16*

Source: The Cotton Corporation of India Ltd, 1 Projected, As per Cotton Advisory Board, * Projected as per Cotton Advisory Board Aranca Research



Century Textiles and Industries Ltd was incorporated in 1897. The company has interests in textile, rayon, cement

and paper. Yarn and denim production units of the textile business are located at Satrati in Madhya Pradesh. The

plant is equipped with 24,960 spindles for manufacturing of yarn and produced about 4,244.2 tonnes of yarn

during 2010–11. The denim division has a production capacity of 21 million metres of denim fabrics per annum.

The company recorded revenues of US$ 1.61 billion in 2016-17.

Century Textiles and

Industries Ltd

Grasim Industries Ltd, a flagship company of the Aditya Birla Group, is one of the leading companies in India with

diverse interests in cement, chemicals and textiles. Its textile plants are located at Bhiwani, Haryana and

Malanpur, Madhya Pradesh. The Malanpur unit of the company manufactures worsted dyed yarn spun from pure

merino wool along with polyester and other blends. The company has a wide retail network and also serves

international apparel manufacturers. The total revenue earned by the company during 2016-17 stood at US$ 6.39

billion.

Grasim Industries Ltd

The Vardhman Group is a leading textile conglomerate in India having a turnover of US$ 1.1 Billion. The yarn

manufacturing units are located in Mandideep (130,994 spindles), Satlapur (222,624 spindles) and Bhudhni

(60,000 spindles). In September 2013, the company added 36,288 spindles to its Satlapur plant. Furthermore, the

Bhudhni plant has a fabric weaving unit (400 looms) and a fabric processing unit with a capacity of 40 million

metres per annum. The company posted total revenues of US$ 941.6 million in 2016-17.

Vardhman Textiles Ltd

Raymond is a major fabric manufacturer in India. Besides, the company also has business interests in engineering

and aviation. The company is one of the largest integrated manufacturers of worsted fabric in the world and

commands over 60.0% market share in worsted suiting in India. The total production capacity of the company is

around 38 million metres of wool and wool-blended products. One of the four plants of the company is located at

Chhindwara in Madhya Pradesh. The revenue earned by the company stood at US$ 858.64 million during

2016-17. Raymond Ltd


KEY INDUSTRIES – CEMENT … (1/2)

The state is the 3rd largest producer of cement in the country &

provides up to 13% of national demand.

Being rich in limestone & coal reserves, the state represents

significant opportunities for the growth of the cement industry.

Satna, Jawad and Neemuch of Madhya Pradesh feature among the

seven major limestone clusters in India. These clusters provide easy

access to raw material resources for the cement industry.

Most limestone deposits are concentrated in the districts of Damoh,

Dhar, Neemuch, Sheopur, Rewa, Satna & Sidhi. Total cement grade

limestone resources of the state are estimated at 4,326.3 million

tonnes.

As of 2015, Madhya Pradesh had 13 cement plants, namely Birla

Vikas & Satna Cement Works (1), Cement Corporation of India Ltd.

(2), Century Cement (1), Heidelberg Cement India Ltd (1), Jaypee

Cement (4), K.J.S. Cement (1), Kymore Cement Works (1), Prism

Cement Ltd (1) & Ultratech- Vikram Cement Works (1).

UltraTech Cement Ltd. has recently bought 2 cement plants &

related power assets of Jaiprakash Associates Ltd. in Madhya

Pradesh, for US$ 792.3 million.

Some of the key players

Birla Corporation Ltd

ACC Limited

Jaiprakash Associates Ltd.

Heidelberg Cement India Ltd

Cement Corporation of India Ltd.

Source: Cement Information System (CIS)- Department of Industrial Policy & Promotion, Government of India; Cement Manufacturers’ Association, Aranca Research


KEY INDUSTRIES – CEMENT … (2/2)

Birla Corporation Limited is the flagship company of the M P Birla Group with business interests in cement, jute

goods, polyvinyl chloride floor covering, auto trim parts and iron & steel casting. The cement plant of the company

is located in Satna, Madhya Pradesh. The plant has a capacity of 2.2 million tonnes per annum. In October 2013,

the company announced plans to set up 3 grinding cum blending units in Madhya Pradesh. The company recently

bought 2 cement plants & related power assets of Jaiprakash Associates. The total revenue recorded by the

company during 2016-17 was US$ 618.5 million. Birla Corp Ltd

ACC Limited is one of the largest cement manufacturers in India with 17 cement plants, more than 40 ready-mix

concrete plants, 21 sales offices and over 9,000 dealers. In Madhya Pradesh, it has plants in Kymore with a

capacity of 2.7 million tonnes per annum (MTPA). For the year 2016, the company recorded total revenues of US$

1.73 billion. ACC Ltd

Everest Industries Limited manufactures a range of building solutions, which include ceilings, walls, flooring,

cladding, doors, roofing and pre-engineered steel buildings. One of the five manufacturing facilities of the company

is located at Kymore in Madhya Pradesh. It is among the first manufacturers of fibre-cement roofing sheets and

accessories in India. The plant has been awarded by the state government for excellence in the fields of safety,

health and environment. Everest Industries Ltd

Heidelberg Cement India Ltd is a subsidiary of Cementrum I.B.V. (a company incorporated under the laws of The

Netherlands, which is 100% controlled by HeidelbergCement AG, which is one of the largest cement

manufacturers in the world). The company has two cement plants at Damoh in Madhya Pradesh. Its cement is

sold under brand name ‘Mycem’. The company recorded a revenue of US$ 252.87 million during 2015-16 and

US$ 261.94 million during 2016-17. Heidelberg Cement

India Ltd


KEY INDUSTRIES – PHARMACEUTICAL AND

BIOTECHNOLOGY INDUSTRY ... (1/2)

Madhya Pradesh has a rich bio-diversity. About 25.2% of the state is

under forest cover; 11 of the 25 agro-climatic zones are present in

the state and a large variety of rare and valuable medicinal and

herbal plants are available.

A nodal agency has been constituted to oversee the developments of

the sector. Incentives in the form of capital subsidies and training

assistance have been arranged to encourage investment.

Biotechnology & pharmaceuticals have been recognised as thrust

sectors. The state has formulated a Biotechnology Policy, which has

created a conducive environment for the bio-pharmaceutical industry

in the state.

Bio Technology Park (Indore) and Bio Fuel Park (Rewa) are major

infrastructure facilities operational in the state.

Agricultural research on hybrid varieties and clinical trials are among

the key activities being undertaken by the state.


Ipca Industries

Lupin Ltd

Piramal Healthcare Ltd

Sun Pharmaceutical Industries Ltd

Teva

Source: MP Trade & Investment Facilitation Corp Ltd, Aranca Research

In 2016-17, the government sanctioned 2,000 new health centres in

the state. The government has also proposed to spend US$ 310

million under the Rashtriya Swasthya Mission.

An amount of US$ 150 million is proposed to be spent on

construction of smart medical city near Sanchi.


KEY INDUSTRIES – PHARMACEUTICAL AND

BIOTECHNOLOGY INDUSTRY ... (2/2)

Ipca is a fully integrated Indian pharmaceutical company with a strong thrust on exports. The company has

operations in over 110 countries and exports account for around 60.0% of the sales. The company has 6 Active

Pharmaceutical Ingredient (API) manufacturing plants & 7 formulation plants in India. In Madhya Pradesh, it has

plants at Indore, Pithampur & Ratlam. The plants manufacture drug intermediaries, oral solids, liquids &

injectables, etc. & are certified by apex global agencies. During 2016-17, total income of the company reached

US$ 493.3 million. Ipca Laboratories Ltd

Lupin Ltd is an innovation-led pharmaceutical company producing a wide range of generic & branded formulations

and Active Pharmaceutical Ingredients (APIs). The company has 2 plants in Madhya Pradesh – 1 at Indore for

formulations & another at Mandideep for API. The plant at Mandideep is approved by global authorities such as

World Health Organisation (WHO), United States Food and Drug Administration (USFDA) & United Kingdom

Medicine & Healthcare products Regulatory Agency (UKMHRA). The total revenue recorded by the company

during 2016-17 stood at US$ 1.2 billion Lupin Ltd

Piramal Healthcare Ltd (PHL) is a globally integrated healthcare company and recorded revenues of US$ 1.32

billion during 2016-17. The company caters to a large range of therapeutic products under a number of divisions

such as acute care, biotech, cardiac, diabetes, general medicine, orthopaedic, pain management, etc. The

company has 6 manufacturing facilities in India, one of which is located at Pithampur in Madhya Pradesh.

Piramal Healthcare Ltd

Sun Pharmaceutical Industries Ltd, one of India's largest pharmaceutical companies, is an integrated, research-

based pharmaceutical company with a global presence. In 2016-17, the company recorded total income of around

US$ 1.29 billion. The company announced the acquisition of Ranbaxy Laboratories Limited in April 2014, and

completed the acquisition deal in March 2015. The company manufactures a wide range of generic medicines in

its 45 manufacturing sites across the globe. Sun Pharma Industries Ltd. has two manufacturing facilities in

Madhya Pradesh at Dewas & Malanpur.

Sun Pharmaceutical

Industries Ltd


KEY INDUSTRIES – MANUFACTURING … (1/2)

Madhya Pradesh State Industrial Development Corporation & its

subsidiaries have developed numerous growth centres across the

state. The Industrial Policy of the state provides numerous incentives

for setting up manufacturing units.

The manufacturing sector in Madhya Pradesh is witnessing strong

growth on account of improving industrial infrastructure, policy

incentives, labour resources & central location of the state.

Districts such as Indore, Bhopal, Jabalpur, Ujjain, Gwalior, Dhar,

Satna, Dewas, Sagar & Khandwa are notable manufacturing hubs in

Madhya Pradesh. Between 2005-06 and 2014-15, income originating

from the manufacturing sub-sector grew at a CAGR of 0.9%.

For industrial modernisation, the state has undertaken measures

such as introduction of Progressive Industrial Policy, infrastructure

improvements & frequent investor meets. To facilitate the industry

with modern infrastructure, the state has initiated expansion of

existing IT parks, stone parks, apparel parks & SEZs.


Bharat Heavy Electricals Ltd

Kirloskar Brothers Ltd

Kores (India) Ltd

Crompton Greaves

Birla Corporation

NSDP originating from manufacturing sub-sector at

constant prices (US$ billion)

10 11

13

12 11.7 13.0 13.4

11.7 10.5 10.8

1.38 2.04

2.29 2.6 2.79

2.47 2.46

2.12 1.85 1.82

200

5-0

6

200

6-0

7

200

7-0

8

200

8-0

9

200

9-1

0

201

0-2

01

1

201

1-1

2

201

2-1

3

201

3-1

4

201

4-1

5

Unregistered Registered

Source: Aranca Estimates based on “Advanced Estimates” provided by Directorate of Economics and Statistics of Madhya Pradesh,


KEY INDUSTRIES – MANUFACTURING … (2/2)

Bharat Heavy Electricals Ltd (BHEL) is a large engineering & manufacturing enterprise in India in the energy-

related & infrastructure sector. During the year 2016-17, the state recorded total income of US$ 4.69 billion. The

Bhopal unit of BHEL was set up in Piplani in 1956 with technical assistance from Associated Electricals (India)

Limited, a UK-based company. The unit has the capability to manufacture hydro, steam, marine, nuclear turbines,

heat exchangers, hydro, turbo generators, transformers, switchgears, control gears, transportation equipment,

capacitors, bushings, electrical motors, rectifiers, oil drilling rig equipments & diesel generating sets. Bharat Heavy

Electricals Ltd

Kirloskar Brothers Ltd (KBL) is the flagship company of the Kirloskar Group. KBL has business interests in large

infrastructure projects such as water supply, power generation & irrigation, manufacturing of pumps for domestic,

agricultural & industrial use. The revenue from operations of the company stood at US$ 282.94 million in 2016-17

& US$ 267.14 million during 2015-16. The company has 6 manufacturing plants, one of which at Dewas in

Madhya Pradesh was established in 1962. The plant manufactures pumps for domestic & agricultural use. Kirloskar Brothers Ltd

Kores (India) Ltd was incorporated in 1936 & has business interest in diverse fields such as office products,

foundry, textiles, pharmaceuticals, engineering, etc. The engineering division of the company has a plant at

Pithampur in Madhya Pradesh. The plant is set up on an area of 71,192 sq m & has facilities such as machining,

fabrication, assembly & testing. The company produces hydrostatic rigs, pumps, drills & related accessories in the

plant at Pithampur. Kores (I) Ltd

Crompton Greaves is a part of the US$ 4 billion Avantha Group. The company is engaged in designing,

manufacturing & marketing of technologically advanced electrical products & services. The company

manufactures transformers at its plants in Mandideep & Malanpur & industrial systems (rotating machines &

railway signalling unit) in Pithampur. The company recorded a revenue of US$ 616.94 million in year ending

March 2017. Crompton Greaves


KEY INDUSTRIES – FAST MOVING CONSUMER

GOODS … (1/2)

Factors such as industrial infrastructure in growth centres, cheap

labour & central location are the key influencers for establishing

consumer goods manufacturing facilities in the state.

Many multinational companies, such as Mondelez, Procter &

Gamble, Hindustan Unilever Limited, Coca Cola & Cargill, have their

manufacturing plants in the state.

A majority of the manufacturing plants are located in industrial areas

of the state such as Malanpur, Mandideep, Pithampur & Chhindwara.

Procter & Gamble’s strategic move of relocating its central

warehouse for FMCG products to Bhopal has helped it save annual

logistics expenses of around US$ 20 million. Many FMCG

companies are now relocating their warehouses to replicate this

success.

To promote growth in the FMCG sector, the state government has

established Gwalior as an FMCG cluster.

Some key players

Mondelez India Foods Ltd

Procter & Gamble (P&G) Home Products Ltd

Dabur India Ltd

Hindustan Unilever Ltd

Patanjali Ayurveda Ltd. plans to set up a food processing unit in the

state, with an investment of US$ 76 million.

The bottling division of Coca Cola in India, Hindustan Coca-Cola

Beverages Ltd. (HCCBL), is planning to invest US$ 111.56 million to

set up a bottling plant at in Hoshangabad, Madhya Pradesh. The 110

acre plant, would facilitate multiple bottling lines for its carbonated

beverages such as Coca-Cola, Sprite, Fanta, Thums Up and Limca.

As of March 2017, Intex Technologies planned to invest US$ 74.31

million for setting up a manufacturing unit for mobiles, air

conditioners and consumer durable goods.


KEY INDUSTRIES – FAST MOVING CONSUMER

GOODS … (2/2)

Mondelez India Foods Ltd is part of Mondelēz International, Inc. It operates in 5 categories – chocolate

confectionery, beverages, biscuits, gum & candy. Mondelez's key brands in India include Cadbury Dairy Milk,

Bournvita, 5 Star, Perk, Bournville, Celebrations, Gems, Halls, Éclairs, Bubbaloo, Tang & Oreo. In India, the

company started its operations in 1948 and has 6 factories & 4 sales offices.

Mondelez India Foods

P&G Home Products Ltd, one of India's largest consumer goods companies, is a 100% subsidiary of Procter &

Gamble Company, US. The company owns some of the reputed brands in the fabric, hair & baby care segments.

The company has its manufacturing plant at Mandideep in the Raisen district of Madhya Pradesh. Procter & Gamble (P&G)

Home Products Ltd

Dabur India Ltd is a leading consumer goods company in India with total income of US$ 307.2 million in Q4, FY17.

The company has 2 major divisions: consumer care business & international business division. One of the 17

manufacturing plants of the company is located at Katni in Madhya Pradesh. The total income recorded by Dabur

India Ltd during 2016-17 was US$ 1.24 billion.

Dabur India Ltd

Hindustan Unilever Ltd (HUL) is a subsidiary of Uniliver and is India's largest consumer goods company with a

portfolio of brands in 20 distinct categories. Established in 1930, the company has its manufacturing plant at

Chhindwara in Madhya Pradesh. HUL recorded net revenue of US$ 5.35 billion during 2016-17.

Hindustan Unilever Ltd


KEY INDUSTRIES – AGRO-BASED INDUSTRY … (1/2)

Madhya Pradesh is an agrarian state. Around 74% of the population of the state is directly or indirectly, dependent on agriculture. Of the total

gross area under crop cultivation in the state, 54.2% is sown during the kharif season while the other 45.7% is sown during the rabi season.

Budget estimate for the horticulture and food processing sectors in the state stood at US$ 118.85 million in. Budget estimate for farmer welfare as

well as development of agriculture, during 2017-18, in the state was recorded to be US$ 704.93 million. Madhya Pradesh is the largest producer of

oilseeds; it produced 7.22 million tonnes in 2015-16. accounting for around 36.32% of the national production.

Madhya Pradesh is one of the leading producers of spices such as ginger, chilli and garlic. Jawaharlal Nehru Krishi Vishwavidyalaya is located in

Jabalpur and serves as a centre for teaching and research in agriculture and allied sciences. The state was the fourth largest milk producer in

India as of March 2017. Milk production in the state increased from 10.8 million tonnes in 2014-15 to 12.12 million tonnes in 2015-16. Egg

production in the state reached 1,441.36 million units in 2015-16, while, meat production in the state increased from 58.89 thousand tonnes in

2014-15 to 73 thousand tonnes in 2015-16.

Dhar, Ujjain, Chhindwara, Jabalpur, Hoshangabad, Guna, Ashok Nagar, Dewas, Indore, Shajapur, Vidisha, Sagar, Ratlam, Sehore, Mandsaur and

Khargone are the major districts involved in agriculture and allied industries. The state received the “Krishi Karman” award for the third

consecutive year. Horticulture is an emerging sector in the state. Through the export of aromatic and medicinal plants, the horticulture segment is

a potential foreign exchange earner. In 2016-17, the state recorded utilisation of 1741.79 thousand hectares of land for production of horticulture

crops. The state has invested resources into the making of water assets, new plantations, flower gardens and organic farming. Plans are being

laid out to set up suitable post-harvest facilities like packing houses, cold storage and mobile processing units.

Source: Ministry of Agriculture, Farmer Welfare & Agriculture Development Department Madhya Pradesh Solvent Extractors’ Association of India, Aranca Research


KEY INDUSTRIES – AGRO-BASED INDUSTRY … (2/2)

Adani Wilmar Ltd (AWL) is a 50:50 joint venture between two global corporations - Adani Group of India and

Wilmar International Limited of Singapore. The company has production infrastructure across the country, with a

crushing capacity of over 5,750 tonnes per day and a refining capacity of over 9,000 tonnes per day. The company

has a production unit in Chhindwara and a packaging plant at Dewas in Madhya Pradesh. FORTUNE, King's,

RAAG, Bullet, Fryola and JUBILEE are the brands under which AWL sells its range of edible oils, vanaspati and

bakery shortening. Adani Wilmar Ltd

Anik Industries Limited has business interests in dairy and milk derivative products, wind power, mining & coal,

ferro alloys, real estate and agri commodities. The company has three milk processing units in Madhya Pradesh

for manufacturing of dairy products, two at Dewas (capacity of 240,000 litres of milk per day and 400,000 litres of

milk per day) and one at Bhopal (capacity of 100,000 litres of milk per day). These units are supported by 11

chilling centres spread across the state, which collect milk from 5,000 villages. The company recorded revenue of

US$ 7.73 billion during 2016-17. Anik Industries Ltd

K S Oils is a leading Indian integrated edible oil company, which produces and markets mustard oil, refined oil and

vanaspati. The company has its fully integrated plant at Morena in Madhya Pradesh with a crushing capacity of

1,475 metric tonnes of mustard seeds per day. The plant also has an in-house packaging unit. The company’s

total income during Q3 of 2015-16 was US$ 0.55 million.

K S Oils Ltd

Ruchi Soya Industries Ltd is one of the major agro-based product manufacturers in India. The product portfolio of

the company includes edible oils, soya foods, bakery fat and vanaspati. It is also the largest exporter of soya foods

and lecithin from India. The company has a wide presence in Madhya Pradesh with six manufacturing plants

located at Mangla, Shujalpur, Guna, Piaparia, Gaderwada and Jabalpur and three depots at Gwalior, Jabalpur and

Indore. The company recorded total income of US$ 2.87 billion in 2016-17. Ruchi Soya

Industries Ltd


KEY INDUSTRIES – TOURISM … (1/2)

Madhya Pradesh is blessed with scenic beauty, rich heritage of

pilgrim centres, temples & wildlife sanctuaries. The state government

has identified the tourism sector as a key growth area.

In 2015, foreign tourist arrivals in the state were approximately

421.36 thousand.

The state government has shortlisted 18 noteworthy centres, which

draw in large numbers of domestic and foreign tourists for further

development.

The state government has taken initiatives to promote eco-, wildlife,

adventure, leisure, business & pilgrim tourism.

The Ministry of Tourism has included Chitrakoot as one of the 35

mega tourist centres sanctioned to be developed. Chitrakoot will be

developed as a spiritual & wellness destination. The destination will

be developed as a part of the Ramayana Circuit. The government

has allocated a sum of US$ 10.69 million for development of this

circuit.

As per budget 2017-18, the state government proposed an allocation

of US$ 39.75 million for the development of the state’s tourism

department.

In February 2017, the state tourism advertisement ‘MP Mein Dil Hua

Bachche Sa’ bagged the prestigious AFI (American Film Institute)

award for the best ongoing campaign, which was launched in June

2016.

The Central Sanctioning and Monitoring Committee (CSMC) for the

Swadesh Darshan Scheme in Ministry of Tourism has approved a

sum of US$ 15.28 million for the development of Heritage Circuit in

state of Madhya Pradesh. The circuit will cover cities of Gwalior-

Orchha-Khajuraho-Chanderi-Bhimbetka-Mandu. The project would

facilitate world class infrastructural development of the sites,

including developing a theme park & convention centre in Khajuraho.

Site illumination, construction of tourist facilitation centres & parking

area are other interventions proposed in the circuit.

International tourist arrivals (in millions)

0.2

3

0.2

5

0.2

0 0.2

5

0.2

7

0.2

8

0.2

8

0.3

2

0.4

2

2007 2008 2009 2010 2011 2012 2013 2014 2015


KEY INDUSTRIES – TOURISM … (2/2)

The state has 382 tourist sites, including world heritage sites. Major

places of tourist interest in Madhya Pradesh are as follows:

• Kanha: One of the largest wild-life sanctuaries in Asia.

• Khajuraho: Some of the most famous sculptures in the world.

• Bhimbetka: The oldest cave paintings in the world.

• Sanchi: The oldest Buddhist Stupa in the world.

• Bandhavgarh: The highest density of tiger population in the

country.

• Bhedaghat: Scenic marble rocks rising up to 100 feet.

• The state has 9 national parks & 25 wildlife sanctuaries.

• Numerous festivals, such as All India Kalidasa Festival, Tansen

Samaroh (Gwalior), Lokranjan & Khajuraho Dance Festival

(Khajuraho), are celebrated in the state, which attract tourists.

In January 2017, the Government of Madhya Pradesh developed

Hanuwantiya Island, with an investment of US$ 1.19 million, to

promote water tourism in the state. The island is located in the

reservoir of Indira Sagar Dam, situated on Narmada river.

Measures to promote tourism in Madhya Pradesh

Promote and market as an attractive tourist destination.

Providing decent accommodation in areas of tourist interest,

operating a transport fleet of coaches, cars and Gypsys

Develop eco-friendly and sustainable tourism facilities.

Develop and promote eco- and adventure tourism.

Publicity and marketing of tourist destinations and facilities.

Source: Madhya Pradesh Tourism Policy


KEY INDUSTRIES – FOREST-BASED INDUSTRIES

With a share of about 12.44% of the total forest area of the country, Madhya Pradesh has the largest area covered by forests among all the states

in India.

In Madhya Pradesh, the average annual production of tendu leaves is estimated around 2.5 million standard bags, accounting for nearly 25% of all

tendu leaves produced in India.

Tendu leaves, sal seed and kullu gum are nationalised forest produce. Other non-wood forest products are non-nationalised and can be collected

and traded freely.

Other important forest products popularly traded include Chebulic Myrobalan, Mahua, Sal seeds, Kullu gum and bamboo.

Estimated budget for the forest department during 2017-18 stood at US$ 419.68 million.

Sale of forest products contributes significantly to the state revenues. Forest products are either sold through auction in commercial depots, or

through sale on pre-defined rates at Nistar depots. As of 2015, there were 40 commercial timber depots and 22 industrial bamboo depots in the

state.

Source: Forest Department, Madhya Pradesh, www.mpforest.org Trading & Development Co-Op Federation Ltd.


KEY INDUSTRIES – IT AND ITeS

Madhya Pradesh has an optical fibre spine of more than 24,000 km

that covers 313 formative blocks over 45 districts.

The state is home to the country’s 1st Indian Institute of Information

Technology & Management (IIITM), which is located in Gwalior. The

government has proposed to set up 21 IT SEZs across the state. 5

information technology parks, located at Bhopal, Indore (2), Gwalior

& Jabalpur, are at various stages of development.

Around 20 companies have signed MoUs worth US$ 1.4 billion for

investments in the IT sector within the state.

Various information technology infrastructures such as the wide area

networks, data centres, etc. are being used for exchanging the

information by different departments of the state government.

A government society MAP_IT (Madhya Pradesh Agency for

Promotion of Information Technology), headed by the Chief Minister

& represented by the government & industry, has been established

to implement the IT policy & propel the growth of the IT industry in

Madhya Pradesh. The state government proposed allocation of US$

36.40 million for different activities under science & technology

during 2017-18.

Contract for setting up a special IT processing centre was granted to

Fujitsu Optel Ltd., at Mandideep in Raisen, at an estimated cost of

US$ 8.48 million.

IT parks

Crystal IT Park (51,097 sq. m) Indore

Hardware and Software

Technology Park (200 acres) Bhopal

Software Technology Park

(100,000 sq ft) Indore

IT Park (50 acres) Gwalior

IT Park (90 acres) Jabalpur

Hardware & Software

Technology Park, Bhopal

Crystal IT Park,

Indore

Software

Technology Park,

Indore

IT Park, Gwalior

Jabalpur IT Park,

Jabalpur

IT projects in Madhya Pradesh

Source: Maps of India


KEY INDUSTRIES – MINERAL-BASED INDUSTRY …

(1/3)

Madhya Pradesh is one of the key mineral-producing states in India, providing tremendous potential for industrial growth.

With 26 major and minor minerals being mined in the state, it ranks fourth in mineral production.

The state has rich deposits of coal, limestone and manganese. Bauxite, dolomite, fire clay, granite and marble stones are other mineral resources

available.

During 2015-16 (till February 2016), value of all minerals produced in Madhya Pradesh was recorded to be US$ 2.4 billion.

Madhya Pradesh, with its 1,045,318 carats of proven diamond reserves, is the sole producer of diamonds in India.

Madhya Pradesh is the leading producer of minerals such as pyrophyllite and copper.

During 2015-16 (till February 2016), value of fuel mineral produced in Madhya Pradesh was recorded to be US$ 2.17 billion.

Major mineral-based industries in the state are cement, thermal power generation, ceramic-products, tiles and refractory.

The Mineral Resources Department of Madhya Pradesh has planned to introduce online electronic transit pass (e-TP) services in Balaghat,

Sagar, Tikamgarh, Satna, Rajgarh, Betul, Indore, Ujjain, Neemuch, Gwalior, Bhind and Hoshangabad in December 2016.

Source: Indian Bureau of Mines



(2/3)

Mineral production of Madhya Pradesh as a share of India’s

reserves in per cent in 2015-16 (till February 2016)

1.66%

1.93%

4.54%

12.61%

16.93%

33.92%

48.82%

64.96%

100.00%

Iron Ore

Bauxite

Phosphorite

Limestone

Coal

Manganese ore

Copper Conc

Copper Ore

Diamond Mineral 2015-16 (till February 2016)

Coal 96,436

Bauxite 505.8

Copper ore 2,300

Copper conc. 62.11

Iron ore 2,291

Manganese ore 638.2

Phosphorite 62.68

Diamond (in carat) 32.06

Limestone 34,576

Mineral production in Madhya Pradesh (‘000 MT)

Source: Ministry of Mines, Government of India, Aranca Research



(3/3)

Hindustan Copper Ltd (HCL) is a vertically integrated copper manufacturing company. In 1982, the company

established its Malanjkhand copper project, which has the single-largest copper deposit in the country. The

Malanjkhand mine has a copper deposit of 221 million tonnes with 1.3% copper concentration. The company

possesses an open-pit mine with a capacity of 2 million tonnes per annum, concentrator plant, tailing disposal

system and other auxiliary facilities. The plant contributes around 80.0% of the copper production of the company.

HCL’s mines and plants are spread across Rajasthan, Jharkhand, Madhya Pradesh and Maharashtra. HCL plans

to expand its flagship Malanjkhand mine with an investment of US$ 308.1 million. During 2016-17, the company

recorded a turnover of US$ 188.87 million. Hindustan Copper Ltd

NMDC is a public sector unit involved in mining of a wide range of minerals such as iron, copper, limestone,

dolomite, gypsum, tin, graphite and diamond. The company is the single largest iron ore producer in the country.

NMDC is the only organised producer of diamonds in India and produces diamond from its Majhgawan mine at

Panna in Madhya Pradesh. The production capacity of the mine is around 84,000 carat per annum. The mine

employs around 199 persons. Total Income from operations of US$ 1.37 billion was recorded by the company

during 2016-17.

NMDC Ltd


TRADE AND INVESTMENT FACILITATION

CORPORATION LIMITED … (1/2)

TRIFAC, established in 2004, is the state’s single window clearance facility. As a nodal agency, it extends customised incentives to mega projects

(investment over US$ 4.6 million).

TRIFAC is a coordinating interface between entrepreneurs and government agencies and provides effective pre-investment and post-investment

services.

Source: MP Trade and Investment Facilitation Corporation Ltd, TRIFAC - Trade and Investment Facilitation Corporation Limited


TRADE AND INVESTMENT FACILITATION

CORPORATION LIMITED … (2/2)

TRIFAC activities Description

APEX Level Investment Promotion

Empowered Committee

For project investments over US$ 4.6 million, TRIFAC facilitates obtaining of customised economic

package through APEX Level Committee headed by Chief Minister.

Project Clearance and

Implementation Board Acts as an empowered body to grant in-principle approval to mega projects.

Madhya Pradesh Investment

Facilitation Act 2008

Acts as member secretary for APEX and State Level Committee, which ensures speedy approvals for

various clearances/consents/permissions.

Combined application form Under the MP Investment Facilitation Act 2008, a single form for obtaining all necessary clearances.

Investment drive TRIFAC organises investor meets, conducts road shows and industry interactive sessions to stimulate

investments in the state.

Memorandum of Understanding TRIFAC acts as a nodal agency for executing the MoU process for investment plans related to the

industry sector.

Delhi-Mumbai Industrial Corridor TRIFAC acts as a nodal agency for executing the project in the state.

Industrial Investment Promotion

Assistance 2004 TRIFAC acts as a nodal agency for providing industrial investment assistance in the state.

Audyogik Kendra Vikas Nigam

Limited (AKVN) AKVN is the subsidiary company of MP TRIFAC.

Land Bank Responsible for maintaining a land database meant for setting up industries in the state.

Source: MP Trade and Investment Facilitation Corporation Ltd, TRIFAC - Trade and Investment Facilitation Corporation Limited


KEY APPROVALS REQUIRED … (1/2)

List of approvals and clearances required Departments to be consulted

Prior to setting up the unit

Registration DIC for SSI/ SIA for large and medium industries

Allotment of land/shed DI/ SIDC/ Infrastructure Corporation/ SSIDC

Permission for land use District authorities/ State DI/ Dept. of Town and Country Planning (in case

industry is located outside an industrial area)

No objection certificate under Water and Air Act Madhya Pradesh Pollution Control Board

Approval for construction activity and building plan Town and Country Planning/ Municipal and local authorities/ Chief Inspector of

Factories/ Pollution Control Board, Electricity Board

No objection certificate Fire Department

Provisional Trade Tax registrations Central and State Excise Departments, Sales Tax Department

Before commencement of production

No objection certificate under Water and Air Act Madhya Pradesh Pollution Control Board

No objection certificate Fire Department

Permanent trade tax registration under Central Sales Tax Act 1956 Central and State Excise Departments, Sales Tax Department

Registration under Central Sales Tax Act 1956

After commencement of production/activity

Registration Department of Commerce, Industry & Employment

Source: MP Trade & Investment Facilitation Corp. Ltd., Aranca Research SSIDC- Small Scale Industrial Development Corporation

Note: SIDC- State Industrial Development Corporation, SSI- Small Scale Industries, SIA- Secretariat of Industrial Assistance, DIC- District Industrial Center,


KEY INVESTMENT PROMOTION OFFICES

Agency Description

Department of Commerce, Industry

& Employment

The department is responsible for industrialisation in the state through development of small, medium and

large scale industries and new investments. The department is also responsible for creation of basic

infrastructure and development of industrial parks. The department has several support institutions such

as Madhya Pradesh State Industrial Development Corporation (MPSIDC) and Audhyogik Kendra Vikas

Nigam (AKVN) in six cities.

District Trade and Industries Centre

District Trade and Industries Centres are district-level offices of the Department of Commerce, Industry

and Employment of the state government. These centres are empowered to provide clearance for setting

up industrial units.

Madhya Pradesh State Industrial

Development Corporation

Madhya Pradesh State Industrial Development Corporation (MPSIDC) is a support institution of

Department of Commerce, Industry and Employment of the state government. The organisation had the

mandate to promote the state as an industrial destination and help companies set up and expand

industries in Madhya Pradesh.


CONTACT LIST

Agency Contact information

Department of Commerce, Industry & Employment

Mantralaya, Vallabh Bhawan

Bhopal - 462 004

Madhya Pradesh, India

Phone: 91-755-2441061

Website: www.mpindustry.org

Directorate of Industries

Directorate of Industries

Vindhyachal Bhawan

Bhopal

Madhya Pradesh, India

Phone: 91-755-2677988, 2677966

Email: [email protected]

Website: www.mpindustry.org

Madhya Pradesh State Industrial Development Corporation

Limited

AVN Towers

192 Zone-1, M.P. Nagar

Bhopal-462 011, Madhya Pradesh

Phone: 91-755 - 427 0370

Fax: 91-755- 427 0280

E-mail: [email protected], [email protected]

Website: www.mpsidc.org


COST OF DOING BUSINESS IN MADHYA PRADESH

Cost parameter Cost estimate Source

Cost of industrial land (per sq. ft.) US$ 4.8-28.7 Industry sources

Hotel cost per room per night

(four-star, five-star hotel) US$ 76.6-95.7 Leading hotels in the state

Residential rent

(for a 2,000 sq ft house, per month) US$ 268-335 Industry sources

Commercial rent

(per sq ft per month) US$ 0.7-3.2 Industry sources

Power cost (per kWh) Industrial: 8-12.4 US cents Madhya Pradesh Electricity Regulatory

Commission

Labour cost (minimum wages per day) US$ 3.73 Labour Department, Madhya Pradesh

Government

Source: Madhya Pradesh State Portal, PwC Research


STATE ACTS & POLICIES … (1/2)

Information Technology

Investment Policy 2014

To facilitate the growth of the IT sector in the state.

To accelerate the use of information technology in the government at all possible levels to improve efficiency,

transparency, accountability and increased productivity.

To promote balanced and sustainable tourism, which enables socio-economic development and establishes

Madhya Pradesh as a destination that provides a complete tourism experience.

Aims at providing an effective regulatory mechanism for sustainable tourism and developing the sector through

PPP.

Tourism Policy 2010

(As amended in 2014)

To improve investor facilitation and ensure rapid economic development and employment opportunities through

sustainable use of available resources.

Promotes SMEs and ensures PPP initiatives for industrialisation.

Envisages an industry-friendly administration and attracting investments by developing

quality infrastructure.

Industrial Promotion

Policy 2014

Objectives

Madhya Pradesh

Investment Facilitation

Act 2008

Ensures quick and timely disposal of investors’ applications at various levels.

To strengthen & make the single-window system more effective.

To improve the life of common man by leveraging the strength of e-governance & attracting investments in the

sector by providing a conducive environment & highly skilled manpower to transform the state from a resource-

based economy to a knowledge-based economy.

IT Policy 2006

Read more

Read more

Read more

Read more

Read more

http://www.mptourism.com/pdf/Tourism policy 2014 (Englishj).pdf

http://www.invest.mp.gov.in/policies.action?OWASP_IFAMS=DMKP-HIQH-Q7YO-K6CK-GEXW-AIVQ-6WM0-KDPI


http://mpnricentre.nic.in/governmentpolicy/ITPOLICY.pdf



STATE ACTS & POLICIES … (2/2)

Conservation of the state’s biodiversity & sustainable use of biotechnology resources.

Production of high-yielding, draught and pest-resistant seeds for agriculture & horticulture crops suited to different

agro-climatic zones.

Improvement of quality of livestock & poultry, especially the breeds indigenous to the state.

Afforestation as well as production of cost-effective drugs to treat common diseases of the

tropical & sub-tropical regions of the country.

Biotechnology Policy

2003

Objectives

Special Economic Zone

Policy 2000

To promote development of SEZs in the state.

To increase employment opportunities in the state.

To increase the flow of investments in the field of electronics manufacturing in the state.

Maximising employment generation opportunities and promoting establishment of FAB units.

Analog Semiconductor

Fabrication Investment

Policy 2015

To boost the flow of investments in the BPO/BPM industry along with promoting establishment of IT/ITeS units in

the urban as well as rural areas in the state.

To generate and maximise employment opportunities for youth as well as development and infrastructure

opportunities in smaller cities in the state.

BPO Policy 2014

Read more

Read more

Read more

Read more

http://www.mpbiotech.nic.in/policy.pdf

http://www.sezindia.nic.in/writereaddata/statePolicies/mp_policy.pdf

http://www.invest.mp.gov.in/policies.action?OWASP_IFAMS=A60U-U4S9-H6MM-R9MH-FKWX-O55L-Y0UC-V4X6

http://www.invest.mp.gov.in/policies.action?OWASP_IFAMS=A60U-U4S9-H6MM-R9MH-FKWX-O55L-Y0UC-V4X6


CONFERENCES/SUMMITS FOR 2016-17

Summit Venue of Summit Date

International Conference on Advances in Engineering, Science & Technology (ICEST-16) Gwalior 21st August, 2016

International Conference on Electrical, Electronics, Computer , Civil and Mechanical

Engineering (ICEECCME-16) Indore 11th September, 2016

International Congress on Engineering and Technology(ICET-16) Bhopal 18th September, 2016

International Conference on Engineering and Technology(ICET-16) Bhopal 16th October, 2016

International Symposium on Current Research in Mechanical, Mechatronics, Robotics and

Civil Engineering(ISMMRCE-16) Indore 30th October, 2016

International Conference on Advances in Engineering, Science & Technology (ICEST-16) Gwalior 13th November, 2016

International Conference on Electrical, Electronics, Computer , Civil and Mechanical

Engineering (ICEECCME-16) Gwalior 11th December, 2016

IISTEM-International Conference on Networking, Communication and Computing

Technology(ICNCCT) Indore 6

th August 2017

Physics and Mechanics of New Materials and their Applications (PHENMA-2017) Jabalpur 14th

October 2017


EXCHANGE RATES

Source: Reserve Bank of India

Exchange rates (Fiscal Year)

Year INR equivalent of one US$

2004-05 44.81

2005-06 44.14

2006-07 45.14

2007-08 40.27

2008-09 46.14

2009-10 47.42

2010-11 45.62

2011-12 46.88

2012-13 54.31

2013-14 60.28

2014-15 60.28

2015-16 65.46

2016-17 67.09

Q1 2017-18 64.46


DISCLAIMER

India Brand Equity Foundation (“IBEF”) engaged Aranca to prepare this presentation and the same has been prepared by Aranca in consultation with

IBEF.

All rights reserved. All copyright in this presentation and related works is solely and exclusively owned by IBEF. The same may not be reproduced,

wholly or in part in any material form (including photocopying or storing it in any medium by electronic means and whether or not transiently or

incidentally to some other use of this presentation), modified or in any manner communicated to any third party except with the written approval of

IBEF.

This presentation is for information purposes only. While due care has been taken during the compilation of this presentation to ensure that the

information is accurate to the best of Aranca and IBEF’s knowledge and belief, the content is not to be construed in any manner whatsoever as a

substitute for professional advice.

Aranca and IBEF neither recommend nor endorse any specific products or services that may have been mentioned in this presentation and nor do

they assume any liability or responsibility for the outcome of decisions taken as a result of any reliance placed on this presentation.

Neither Aranca nor IBEF shall be liable for any direct or indirect damages that may arise due to any act or omission on the part of the user due to

any reliance placed or guidance taken from any portion of this presentation.

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