Madhya Pradesh poised for USD 2.1 tn economy by 2047: CII Report
Madhya Pradesh's economy can potentially increase its Gross State Domestic Product (GSDP) to USD 2.1 trillion (Rs 248.6 lakh crore) by 2047-48, growing at a CAGR of 8.6 per cent from the current USD 164.7 billion (Rs 13.6 lakh crore), according Confederation of Indian Industry (CII) report.
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The report, titled «Envisioning Madhya Pradesh Economy@2047,» outlines a vision for economic growth, identifying key sectors, policy interventions, and investment opportunities that will drive the state's transformation.
Chandrajit Banerjee, Director General, CII, stated that with a proactive state government dedicated to boosting investment and driving growth, Madhya Pradesh is well-placed to increase its contribution to India's GDP from the current 4.6 per cent to 6.0 per cent by 2047-48.
Further, the report underscores that for Madhya Pradesh (MP) to achieve its ambitious growth targets, manufacturing and industrial expansion must take centre stage.
While the agriculture sector currently contributes 43 per cent to MP's economy, the share of manufacturing must rise from 7.2 per cent to 22.2 per cent by 2047 to sustain long-term growth.
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