(MENAFN- KNN India) Indore, Dec 13 (KNN) The Madhya Pradesh Industrial Development Corporation (MPIDC) regional office in Indore has received investment proposals exceeding Rs 200 crore for the establishment of textile and garment industries in Jhanjharwada, Neemuch, with Rajasthan-based firms contributing over 20 per cent of the total, reported TOI.
The industry department is planning to expand the existing Jhanjharwada industrial belt near the Neemuch border area of Madhya Pradesh, due to the overwhelming response from potential investors, reported TOI.
Seeking to draw investments from neighbouring states, the MPIDC has put forth a proposal to expand industrial areas in Mandsaur, Neemuch, Burhanpur, and Agar-Malwa.
In addition to textile and clothing companies from Madhya Pradesh, South India, and Rajasthan, the Jhanjharwada industrial zone has also drawn investments from engineering and glass manufacturers in the past year, reported TOI.
Rajesh Rathod, Executive Director, MPIDC, Indore said,“Recently we have received encouraging investment proposals from textile and garment units of Rajasthan. Many of them have expressed desire to either shift units or plan an expansion in MP. We have seen a rise in demand for land from industries in areas closer to borders. Considering this, we are building up land banks and expanding industrial areas.”
Madhya Pradesh's industrial landscape witnessed significant growth over the past four years, with the state government sanctioning 28 new industrial areas encompassing diverse sectors.
Major investments were drawn from industries such as chemicals, mining & minerals, energy, textile, and iron & steel.
Moreover, pharmaceuticals, food processing, plastic, paper & packaging, and engineering industries invested in establishing facilities within the state.
(KNN Bureau)
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