Madhya Pradesh eyes $2.1 Trillion economy by 2047: CII Report

K K Jha
Bhopal: Madhya Pradesh has the potential to expand its economy 18-fold to $2.1 trillion (₹248.6 lakh crore) by 2047–48, according to a report by the Confederation of Indian Industry (CII). The report emphasizes that achieving this ambitious target will require manufacturing and industrial expansion to take center stage. The study, “Envisioning Madhya Pradesh Economy@2047,” projects that the state’s Gross State Domestic Product (GSDP) can grow at a CAGR of 8.6%, surging from the current $164.7 billion (₹13.6 lakh crore). If achieved, Madhya Pradesh’s contribution to India’s GDP would rise from 4.6% to 6%.
CII Director General Chandrajit Banerjee lauded the state government’s proactive approach in attracting investments and fostering growth. The report highlights the need to elevate manufacturing’s share in the economy from 7.2% to 22.2% by 2047, reducing overreliance on agriculture, which currently accounts for 43% of the state’s GDP.
To drive this transformation, the report outlines strategic interventions categorized into horizontal (cross-sectoral) and vertical (sector-specific) approaches, aiming to position Madhya Pradesh as a leading industrial hub in India’s economic future.