Bhopal (Madhya Pradesh): In a bid to boost employment, the state Cabinet on Tuesday approved the Industrial Conservation Policy 2025, with an aim to generate over 20 lakh jobs in the next five years. The policy also aims to propel the state's GDP from Rs 2.9 lakh crore to approximately Rs 6 lakh crore by 2030.
The Cabinet also gave its nod to Export Promotion Policy, Logistics Policy, City Gas Distribution Policy, Film Tourism Policy, and Tourism Policy, marking a significant step towards economic growth.
Moreover, the Pump Hydro Storage Project implementation plan was also okayed. A key feature of these policies is a single window system that guarantees timely permission for businesses.
The Industrial Conservation Policy aims to create a favourable environment for businesses by ensuring fast-tracked approvals through a single window. The policy includes 10 sector-specific strategies, including Agriculture, Dairy, Food Processing, Textile, Aerospace, Defence Production, Pharmaceuticals, Biotechnology, EV Manufacturing, and Renewable Energy.
One of the standout features is the provision of Ultra Mega Projects (over Rs 100 crore), which can receive a capital grant ranging from 15% to 30%, with a maximum of Rs 90 crore. The policy also encourages tourism-related infrastructure like Golf Resorts, Convention Centres, Wellness Resorts, and Cruise Lines, as well as projects such as International Air Services, Heritage Hotels and Ropeways.
Logistics Policy 2025
The Logistics Policy 2025 focuses on developing a comprehensive logistics network with facilities like Logistics Parks, Inland Container Depots and Dry Ports, alongside non-financial support for development of green cargo.
Export Policy
The MP Export Policy is designed to support local manufacturing units that export at least 25% of their products, with assistance for export freight and creation of an Export Incubation Hub for new exporters. The policy also backs the "Made in Madhya Pradesh" concept, aiming to strengthen the state’s position in global trade.
City Gas Distribution Policy 2025
This policy aims to provide piped natural gas (PNG) for domestic, commercial and industrial use, ensuring availability of clean fuel at affordable rates. By targeting both household and industrial sectors, the policy seeks to reduce pollution and offer a more sustainable energy alternative.
Pump Hydro Storage Project
The Cabinet also approved the Pump Hydro Storage Project Plan, which will use solar energy to pump water to higher elevations during the day. At night, this stored water will be released to generate electricity through turbines.
