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Economy of Balaghat

Balaghat is surely one of the brightest spots on the economic map of Madhya Pradesh state. Its an emerging industrial region, with potential to become one of the industrial powerhouses in Central India. This is all thanks to huge amount of minerals that this region has been blessed with, which has helped in attracting many mineral extraction companies. There is, however, more to Balaghat’s economy than industrial sector propelled by mineral wealth. To know about that, please read through all our below paragraphs, wherein we’ve briefed about all the sectors that play important role in Balaghat.

Economy of Balaghat
Economy of Balaghat

Agricultural Sector in Balaghat

One may keep praising Balaghat untapped potential in industrial sector, but the fact remains industrial sector can never dominate agricultural sector. Not even in distant future. Simply because like rest of India, Balaghat’s economy has always been dominated by agriculture since time immemorial. Agriculture’s impact, however, may have been reduced in the main city of Balaghat – owing to steady urbanization. But it remains by and large the most important and dominant occupation in interior areas of Balaghat. As for which are the main crops grown here, then these are Rice, Minor millets, Pigeonpea, Maize, Linseed, Wheat are main crops that are grown here. As for horticulture crops are concerned, then Cabbage, Brinjil, Tomato, Chilli and Potato are main horticulture crops grown here.

Industrial Economy in Balaghat

Industrial Economy in BalaghatWe had already mentioned in introductory paragraph that large reservoir of minerals found in this region gives immense potential for growth of industrial sector. The region is already home to many large as well as medium scale mineral extraction plants, which have brought huge revenue and employment for this region. And going by deep reservoir of minerals that this region holds, we should expect more large extraction plants in coming years. We now ought to tell you which are the main minerals that are found here. The main minerals of this region are Manganese, Copper, Bauxite, Kyanite and Lime-stone.

Moving beyond minerals, we now want to shed special light on small scale industrial units, as they compromise nearly 90% of the industrial units operating in the region. Actually more than large scale and medium scale industrial units, it is small scale industrial units that are on the forefront of employment and revenue generation. Most of the small scale industries here compromise of Agro based industries, Ready-made garments & embroidery, Wood/wooden based furniture and steel fabrication units. Most of these units are operating in 4 major industrial areas, out of which two are located near Balaghat city and other two are located in Sarandi and Bodunda Kala villages. All said and done, Balaghat still has to take huge stride to become one of the industrial powerhouse of Madhya Pradesh State.

M/s Ramnik Power and Allies Pvt. Ltd
Address: Plot No.01, Industrial Area, Village Sarandi,Tehsil: Waraseoni, District: Balaghat (M.P.)
Phone no: Not available

MOIL Limited Plant (Formerly known as Manganese Ore Limited)
Address: P.O Bharweli, Dist. Balaghat, Pin : 481102
Phone no: Office : 07632-245311, Resi : 07632 - 245187

MOIL Limited Plant
Tirodi Mine Address P.O. Tirodi, Dist Balaghat, Pin : 481449
Phone no: Office : 07630-276735, Resi : 0763027673

Hindustan Copper Limited
Address: P.O. Malanjkhand, Dist. Balaghat, Madhya Pradesh - 481116
Phone no: +91 (0) 7637 257042
Fax no: 07637 257032/038
E-mail: hcl_mcp@hindustancopper.com

Forest Industry in Balaghat

Now coming to forest industry. The fact that forest makes up for whopping 52% of the region’s land area is sufficient indication about the importance of local forest industry. However, forest industry hasn’t really evolved much here, but it still provides huge employment and day-to-day revenue to thousands of local people. Teak wood, sal, bamboo, saja and hordes of medical plants are major exported forest items or products from here.

Service Sector in Balaghat

Service sector is more or less restricted to main city of Balaghat, where steady urbanization has given much needed space for organized service sector to grow. However, size of organized sector is still very small, which obviously means that service sector is still by and large unorganized. Speaking about composition of organized service sector, then here local service sector is composed of banking sector, hospitality sector, healthcare sector and self employed entrepreneurs. Although overall employment and revenue collected from service sector is still very minimal, but it nonetheless compromises an important part of the economy.

In conclusion we’d like to conclude that Balaghat’s massive reservoir of minerals presents huge opportunity to its industrial sector to make a complete turnaround. Growth opportunity also lies in forest and service sector, which are currently making bare minimum contribution to the economy. All these sectors hold immense promise for the future, but currently they are suffering from many bureaucratic irregularities and also economic apathy on behalf of state administration.

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