Bhopal, Feb 11 (PTI) With an aim to position Madhya Pradesh as India's premier investment destination, the BJP government on Tuesday unveiled a series of policy initiatives, including multi-sectoral incentives, to boost industrial growth, attract FDI, and foster innovation.

These sweeping measures, announced during a cabinet meeting and ahead of the state government's mega Global Investors Summit (GIS) 2025 on February 24-25 in Bhopal, aim to propel MP's industrial GDP from Rs 2.9 lakh crore (FY 2023-24) to Rs 6 lakh crore by 2030, an official said.

Chief Minister Mohan Yadav presided over the meeting The newly introduced policies provide multi-sectoral incentives, covering manufacturing, logistics, renewable energy, IT, textiles, EVs, tourism, and film production, reinforcing Madhya Pradesh's reputation as one of India's most investor-friendly states, he said.

Under the Industrial & Economic Growth policy aimed at strengthening Madhya Pradesh's investment landscape, the state has significantly enhanced its investment policies, ensuring streamlined benefits for large-scale and mid-scale industries.

For mega investment incentives, projects exceeding Rs 500 crore will now qualify for premium benefits, with key industries such as renewable energy, biotech, and telecom set to receive incentives starting at Rs 250 crore, the official said.

Under the Export Growth Strategy, a 50 per cent freight reimbursement (up to Rs 40 lakh per unit, Rs 2 crore over five years) will be given to reinforce Madhya Pradesh's position as India's next export hub, he said.

Similarly, under the Energy Efficiency & Cost Reduction Initiative, power tariff rebates will be offered to drive cost-efficient manufacturing, the official said, adding, this restructured investment framework strengthens Madhya Pradesh's position as an ideal long-term business destination.

Recognizing the global shift towards sustainability-driven investments, the government has launched aggressive policies to attract green investors under which 50 per cent financial support will be given for green industrialization (up to Rs 10 crore) besides subsidies for clean energy manufacturing & zero liquid discharge (ZLD) infrastructure.

Strategic hubs were proposed for solar, wind, and green hydrogen investment, the official said.

In order to capitalize on the state's skilled workforce and growing textile sector, the government has announced targeted incentives under which Rs 5,000 per month wage support per employee for five years will be given.

The government will also give Rs 13,000 per employee for skill development training, 5 per cent interest subsidy on term loans (up to Rs 50 crore) and 100 per cent stamp duty exemption for new textile projects, he added.

The official said the food processing sector will receive a boost through tailored incentives aimed at agro-processing, dairy, and cold chain logistics. Under these measures, 1.5 times standard incentives for food processing units, Re 1 per unit power tariff rebate for five years and custom investment packages for projects over Rs 75 crore will be provided.

To promote clean mobility, the government is offering targeted subsidies for electric vehicle (EV) manufacturing and related infrastructure. Subsidies for battery and component production, incentives for charging infrastructure & green mobility projects and strategic positioning for EV supply chain expansion will be offered to boost the electric vehicle sector, the official said.

This comprehensive EV policy is designed to attract global players in electric vehicle innovation.

Referring to the MP Film Tourism Policy 2025, the official pointed out the government is providing a range of financial incentives for filmmakers, including up to Rs 2 crore financial assistance for feature films, Rs 1.5 crore for web series and Rs 1 crore for TV shows for shootings in the state.

Besides, additional grants for regional, women-centric and children's films will be given, the official said, adding single-window clearance for filming approvals will be put in place and infrastructure support for cinema hall development will be provided.

With the Tourism Policy 2025, the state is set to transform its travel and leisure sector with ground-breaking incentives to promote ultra-mega projects with incentives up to Rs 90 crore. Heritage hotels, adventure tourism, and convention centre development will be given priority, he said.

The state will also give a 30 per cent capital subsidy for tourism-related investments and ensure fast-track approvals in just 10 days. It will also incentivise eco-tourism and homestay.

The official said Madhya Pradesh's forward-looking policies are designed to create a seamless business environment and offer investment promotion assistance up to Rs 200 crore, single-window clearance for regulatory approvals and significant tax benefits, infrastructure support & export incentives.

By hosting the GIS 2025 and inviting business leaders, entrepreneurs from India and abroad, Madhya Pradesh is positioning itself as India's most dynamic investment hub, the official added. PTI MAS RSY

Investment incentives and facilitation measures expanded to attract large projects, boost exports, and promote green industrialisation. The state unveiled a comprehensive investment policy offering scaled financial incentives for large and strategic projects, export freight reimbursement, and power tariff rebates to reduce manufacturing costs. It targets multiple sectors-manufacturing, renewables, biotech, telecom, textiles, food processing, EVs, film and tourism-and includes green industrialisation support, wage and training subsidies for employment, interest and stamp duty relief to lower establishment costs, and procedural facilitation such as single-window clearance and fast-track approvals to accelerate project implementation.