Madhya Pradesh has potential for 18-fold growth to be $2.1 trillion economy by 2047-48: CII report

MP is well-placed to increase its contribution to India's GDP from 4.6% to 6% by 2047-48

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BHOPAL: Madhya Pradesh can potentially increase the size of its economy by 18 times to $2.1 trillion (Rs 248.6 lakh crore) by 2047-48, according to a report by industry body CII.

In order to realise its potential, the state needs to focus on boosting the manufacturing industry and industrial expansion must take center stage, CII said.

According to the report 'Envisioning Madhya Pradesh Economy@2047', the gross state domestic product (GSDP) of the state can rise to $2.1 trillion (Rs 248.6 lakh crore) by 2047-48, growing at a CAGR of 8.6 per cent, from the current $164.7 billion (Rs 13.6 lakh crore).