Madhya Pradesh trade and commerce

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Madhya Pradesh is emerging as vibrant state now. Gone are the days, when it was called diseased state. It is all because of increase in trade and commerce activities in the state. Trade and commerce has facilitated for all round development of state along with EMPLOYMENT generation.

Steps taken by government to advance trade and commerce

Executive Graamin Sadak Yojana, in the midst of 2016-17, the State Government has centered improvement of more than 2,000 km of boulevards.
For the progression of various lanes in the express, the state government has proposed circulation of US$ 1.12 billion.
Work on advancement of IT stops in 4 essential locale of the state, including Indore, Gwalior, Bhopal and Jabalpur, is required to be begun in the midst of 2016-17.
Moreover, electronic gathering bunches are similarly being set up in Jabalpur and Bhopal. For these new establishments, Government of Madhya Pradesh apportioned a measure of US$ 7.94 million as per the Budget 2016-17.
For a sorted out advancement, the organization has apportioned the state into six clusters – Indore, Bhopal, Jabalpur, Gwalior, Rewa and Sagar. MPSIDC has endeavored a US$ 13.3 million errand to pass on water from Narmada River to Dewas under the BOT contrive. The endeavor would likely reason the water issues of 460 undertakings and support advance industrialization on dewas present day belt.
The condition of governments making two SEZs at Hargarh and Umariya-Dungariya. Once operational, the Hargarh SEZ will give establishment support to mineral-based undertakings, while Umariya-Dungariya will consider the cultivating and sustenance dealing with wanders.
The state government has pronounced plans to upgrade existing clothing bunches at Indore and Jabalpur.
The state government has developed a material stop in Chhindwara. Indore perceived for structure change under the Textiles Center Infrastructure-2/”>INFRASTRUCTURE-development/”>Infrastructure Development Scheme (TCIDS). Indore is a group of the readymade bits of dressing Industry with more than 1,260 pieces of attire units.
To attract wander into the material division, the governing body has given an interest sponsorship to five years at the rate of five for every penny for material assignments and seven for each penny for composite material endeavors.
In addition, the organization gave 100% help with plant and contraption for quite a while under Industrial Investment Promotion Assistance Scheme.

Trade and commerce and Investor summit in Madhya Pradesh

Worldwide Investors Summit, formally the Invest Madhya Pradesh Global Investors Summit or GIS is a biennial business summit sorted out by Government of Madhya Pradesh in Indore, the business capital of focal India to pull in residential and remote speculation for improvement of the state. In view of the theme– India’s Growth Center and went for uniting business pioneers, speculators, organizations, thought pioneers, approach and sentiment producers; the summit fills in as an ideal stage to comprehend and investigate business openings in the State of Madhya Pradesh.

GIS 2007 – Signed 102 MOUs worth Rs 1.2 Trillion
GIS 2016 – 2630 Investments proposed worth ₹5.6 Trillion
GIS 2012 – Signed 259 MOUs for setting up ventures worth Rs 4.3 Trillion
GIS 2010 – Signed 107 MOUs for setting up ventures worth Rs 2.3 Trillion

Madhya Pradesh Commerce Industry department and its role in trade and commerce in state

MP Commerce Industry & Employment department is responsible for all round industrial development and creation of employment opportunities in Madhya Pradesh. The department acts as a Catalyst to modernize & strengthen the Industries of the State to make them globally competitive. The State has industrial friendly Atmosphere and favourable policies for Development Of Industries. The department facilitates establishment of Industries to achieve employment generation and utilization of local Resources. It also provides a forum for Industries through their associations to represent their needs to the Government, which envisages to make industrial friendly policies and ease in availing required Services.

Objective:

Promotion of Economic Development of the state and creation of employment opportunities through industrialization and private capital investment

Strategy:

Industrialization & Private Investments

Establishing & Promoting ‘Brand MP’

Web Portal – INVEST Portal
Participation in National and International events
Organizing Roadshow at National and International Level
Global Investors Summit (once in two years)

Facilitation

One-to-one meeting of Investors with Hon’ble Chief Minister on every Monday for time bound resolution of issues./difficulties.

Development of Industrial Infrastructure

Developing new industrial areas and investment Corridor
Land allotment on “First Come – First Served basis” – Without Waiting
Arrangement of best-in-class Infrastructure maintenance in Industrial Areas
Provision of Land Bank to facilitate allotment of undeveloped land to large Industries

Ease of Doing Business

Single Window Platform
Simplified procedures for Environmental Clearance and Consent to Establish & Consent to Operate.
Labour Laws, Building Construction & Land Diversification – Approvals through Simplified Procedures

Industrial Promotion Policy

Tax concessions
Timely delivery of Incentivies

MP Trade and Investment Facilitation Corporation(MPTRIFAC)

MPTRIFAC (MP Trade and Investment Facilitation Corporation) is acting as the Single Window Secretariat for Investment promotion and facilitation in the state since 2004. MP TRIFAC has developed an ICT (Information & Communication Technology) enabled single window system, which allows the investor to apply online for various approvals required to setup a business in the state.

Benefits to Investor:

Provides one stop solution to facilitate investor in the state through the web portal
Less physical interaction with various departments
Allowing online submission of applications
24*7 access to information and services
Status update through SMS & E-mails
Helpdesk support
Simplified application process.

Madhya Pradesh is a state in central India. It is the second-largest state in India by area and the seventh-largest by Population. The state is known for its rich Natural Resources, including coal, iron Ore, and bauxite. Madhya Pradesh is also a major agricultural state, producing a variety of crops, including rice, wheat, and soybeans.

The state’s economy is based on agriculture, mining, and manufacturing. The service sector is also growing rapidly. Madhya Pradesh is a major tourist destination, with attractions such as the Taj Mahal, the Khajuraho temples, and the Bandhavgarh National Park.

The state’s trade and commerce sector is well-developed. The state has a number of major industrial centers, including Indore, Bhopal, and Gwalior. The state is also home to a number of important trade fairs and exhibitions.

Madhya Pradesh is a major producer of agricultural products, including rice, wheat, soybeans, Cotton, and pulses. The state is also a major producer of milk, meat, and eggs. The state’s agricultural sector is well-developed, with a number of modern agricultural technologies being used.

The state’s mining sector is also important. The state is a major producer of coal, iron ore, and bauxite. The state’s mining sector is well-regulated, with a number of environmental safeguards in place.

The state’s manufacturing sector is also growing rapidly. The state is home to a number of major manufacturing industries, including automobiles, textiles, and pharmaceuticals. The state’s manufacturing sector is well-supported by a number of government initiatives, including tax breaks and subsidies.

The state’s service sector is also growing rapidly. The state is home to a number of major IT companies, call centers, and banks. The state’s service sector is well-supported by a number of government initiatives, including infrastructure development and Education reforms.

Madhya Pradesh is a major tourist destination. The state is home to a number of historical and cultural attractions, including the Taj Mahal, the Khajuraho temples, and the Bandhavgarh National Park. The state is also home to a number of natural attractions, including the Kanha National Park and the Pench National Park.

Madhya Pradesh is a major economic and industrial hub in central India. The state has a well-developed infrastructure and a number of major industries. The state is also home to a number of important trade fairs and exhibitions.

Here are some frequently asked questions and short answers about trade and commerce:

What is trade?
Trade is the exchange of goods and services between two or more parties. It can be done through barter, Money, or credit.
What is commerce?
Commerce is the activity of buying and selling goods and services. It includes all aspects of trade, such as transportation, storage, and Marketing.
What are the different types of trade?
There are two main types of trade: domestic trade and international trade. Domestic trade is the exchange of goods and services within a country, while international trade is the exchange of goods and services between countries.
What are the different types of commerce?
There are three main types of commerce: retail, wholesale, and service. Retail commerce is the sale of goods to consumers, wholesale commerce is the sale of goods to businesses, and service commerce is the sale of services to businesses or consumers.
What are the benefits of trade?
There are many benefits to trade, including:
Increased efficiency: Trade allows businesses to specialize in what they do best, which can lead to increased efficiency.
Increased competition: Trade can lead to increased competition, which can drive down prices and improve quality.
Increased innovation: Trade can lead to increased innovation, as businesses are exposed to new ideas and technologies.
Increased economic growth: Trade can lead to increased economic growth, as businesses are able to sell their goods and services to a wider market.
What are the challenges of trade?
There are also some challenges to trade, including:
Trade deficits: When a country imports more goods and services than it exports, it has a Trade Deficit. This can lead to job losses and economic problems.
Protectionism: Protectionism is the practice of using government policies to protect domestic industries from foreign competition. This can lead to higher prices and lower quality goods and services.
Currency fluctuations: The value of currencies can fluctuate, which can make it difficult for businesses to plan and invest.
Trade barriers: Trade barriers are government policies that restrict trade, such as tariffs, quotas, and subsidies. These can make it difficult for businesses to compete in the global marketplace.
What is the future of trade?
The future of trade is uncertain. The rise of protectionism and trade barriers is a concern, as is the increasing volatility of the global economy. However, there are also some positive trends, such as the growth of E-Commerce and the increasing integration of global markets. Overall, the future of trade is likely to be shaped by a number of factors, including the global economy, technological change, and government policy.

Sure, here are some MCQs without mentioning the topic Madhya Pradesh trade and commerce:

Which of the following is not a type of business organization?
(A) Sole proprietorship
(B) PARTNERSHIP
(C) Corporation
(D) Government
Which of the following is not a factor of production?
(A) Land
(B) Labor
(C) Capital
(D) Entrepreneurship
Which of the following is not a type of market structure?
(A) Perfect competition
(B) Monopoly
(C) Oligopoly
(D) Government
Which of the following is not a type of economic system?
(A) Capitalism
(B) Socialism
(C) Communism
(D) Government
Which of the following is not a type of economic growth?
(A) Positive economic growth
(B) Negative economic growth
(C) Zero economic growth
(D) Government
Which of the following is not a type of economic development?
(A) Economic growth
(B) Economic development
(C) Economic stability
(D) Government
Which of the following is not a type of economic policy?
(A) Fiscal Policy
(B) Monetary Policy
(C) Trade Policy
(D) Government
Which of the following is not a type of economic indicator?
(A) Gross domestic product (GDP)
(B) Gross national product (GNP)
(C) Consumer price index (CPI)
(D) Government
Which of the following is not a type of economic theory?
(A) Classical economics
(B) Keynesian economics
(C) Monetarism
(D) Government
Which of the following is not a type of economic school of thought?
(A) Classical economics
(B) Neoclassical economics
(C) Keynesian economics
(D) Government