Madhya Pradesh cabinet approves Jabalpur-Indore Economic Corridor development

The Madhya Pradesh Cabinet, chaired by Chief Minister Mohan Yadav, has approved the formation of a state-owned Special Purpose Vehicle (SPV) named the Jabalpur-Indore Economic Corridor Development Company Limited. The company will oversee the integrated development of an industrial corridor spanning approximately 600 kilometers along the expressway connecting Jabalpur, Bhopal, and Indore.

The state government will provide an initial paid-up capital of 100 crore rupees. A high-level governing council, headed by the Chief Minister, will direct the company. The SPV is granted extensive powers regarding land identification, management, acquisition, zoning, master planning, and infrastructure development.

The project aims to attract over 3 lakh crore rupees in investment and create more than 6 lakh jobs over the next three years. In the first phase, 3 to 5 primary industrial hubs will be developed across 10,000 acres. Targeted sectors include IT, advanced manufacturing, food processing, logistics, and defense-aerospace support across districts such as Jabalpur, Narsinghpur, Raisen, Bhopal, Sehore, Dewas, and Indore.

Additionally, the cabinet approved approximately 27,050 crore rupees in various proposals to accelerate regional development, including the implementation of a Bhavantar scheme to ensure fair prices for soybean farmers.