The institute will help in improving the ease of doing business index for the state, amongst many other things.
The Madhya Pradesh Industrial Development Corporation has signed an agreement with the managerial body of IIM Indore for enhancing the industrial sector of the Indian state. As per the three-year-long MOU, the IIM body would assist the state government in chalking out plans for building up its industrial infrastructure and drafting policies aimed at attracting investors.
Enhancing MP's brand value for setting up industries a priority
Amidst the unstable circumstances brought by the COVID pandemic, the Madhya Pradesh government is trying hard to stabilise the state economy. With a focus to revive and boost industrial development in the state, the government is executing projects for the growth and expansion of industries, one of which is the latest agreement. As per the new MOU with the top-notch B-school, the management body at IIM Indore would help the state machinery in strengthening its industrial sector.
Experts from the Indian Institute of Management would work out plans for the Global Investors summit in addition to suggesting changes for the state's industrial policy. They will not only aid in improving the brand value of Madhya Pradesh but also recommend policies that can amplify the state's ease of doing business index. Based on their recommendations, the government would alter its industrial policy and make room for accommodating new proposals.
Looking forward to an ecosystem that supports & nourishes industries
As per reports, the director of the institute stated that it is important to establish an ecosystem in the state which supports and nourishes business and industries. All interventions in this regard would not just help the state but also propel the spirit of a self-reliant India. While the Madhya Pradesh Industrial Development Corporation is bound to implement plans for promoting the state's industrial sector, the current initiative would help the organization in augmenting its framework and increasing its research and development capacity.