The Madhya Pradesh government will soon float a new company dedicated to small and medium industries, Chief Minister Mohan Yadav announced on Sunday while addressing entrepreneurs at a programme in Bhopal organised to mark the state's 71st Foundation Day.

Source: IANS via Hi India

The new entity, to be called the MSME Industrial Development Company (MSME-IDC), will cater to micro, small and medium enterprises and will play a pivotal role in providing essential industrial infrastructure, including land, across all regions of the state, the Chief Minister said.

"Much like the Madhya Pradesh Industrial Development Corporation, which focuses on large-scale industries with investments exceeding Rs 500 crore, the new entity will be dedicated exclusively to the promotion and development of the MSME sector. It will be a state-owned company, fully held by the Madhya Pradesh government," Yadav said.

Rs 50 lakhgrant per hectare for private industrial parks
220 hectares13 new industrial areas developed in 2025-26
3,000plot allotments targeted this financial year
5,000industrial units to get plots in 30 new areas by 2028

Yadav also announced that private investors will now be permitted to develop industrial parks, with the state government providing a grant of Rs 50 lakh per hectare, and said land for MSMEs will be made available in every district of the state within two months to accelerate industrial growth and investment.

Plots and new industrial areas

The Chief Minister said 13 new industrial areas spanning 220 hectares were developed in 2025-26, and that thousands of beneficiaries have received loans under the Mukhyamantri Udyam Kranti Yojana. The announcement came at the same Foundation Day programme at which he also distributed financial assistance to MSME units and startups.

State MSME Minister Chetan Kashyap said 1,250 plots have been allocated to entrepreneurs in the last year alone and the figure is set to reach 3,000 in the current financial year. He said 30 new industrial areas will be developed by 2028, with plots made available for 5,000 industrial units, and added that the state has become a top choice for investors following the Chief Minister's investor summits.

Yadav held discussions with young entrepreneurs on their investments and future plans and assured them of full government support, saying the future of the state is anchored in investment, industry and innovation. Details of the new company's formal notification, board and budget are awaited.