Abstract:
Industrial development is an integral part of the economic growth of a region. It arises through a synthesis of various factors, of which the presence of natural resources adds to the benefit. India is experiencing slow-paced industrialization with a stagnant growth rate. On analyzing various factors, it was noted that the
resource-rich states in central are less developed while the relatively resourcedeficient regions in the south and west are more developed. The industrial growth in Madhya Pradesh is linear however the state’s economic
growth is relatively higher experiencing regional imbalances. Adopting the strategy of establishing growth centers near major urban centers, the indicators reveal that industries in Gwalior-Banmore-Malanpur have not performed well as compared to other industrial hubs in the state. More than 180 units came up at Malanpur and Banmore in less than a decade, however, the initial burst of boom didn't last long and the region started
experiencing a decline in the number of units and employment. The proximity of proposed corridors and strengths of connectivity do provide the opportunities for making it a major industrial hub. Henceforth, it is a need to analyze the industrial scenario of Gwalior- Malanpur-Banmore to explore its potential.
The study tries to comprehend the growth and development of the region through multi-criteria selection of parameters from various industrial theories, clusterspecific models, and case studies. The study will then emphasize understanding the gaps and challenges between the three industrial areas and suggest strategies
for the same. These strategies would act as catalysts to revitalize the potential of industries in the region making it more sustainable. The scope of the study would be limited to the functional dimensions not considering the details of the type of products. The study would be limited to the catchment area of the industries.
