The Madhya Pradesh Industrial Development Corporation (MPIDC) has set a clear timeline for its ambitious technology infrastructure expansion in Indore. Sales of office spaces in the upcoming IT Park-3 and IT Park-4 are now targeted to commence in 2026. This move is a strategic step to capture the rising demand from IT, fintech, and services companies seeking a base in central India.
Massive Investment in Plug-and-Play Infrastructure
The larger of the two projects, IT Park-3, involves a development cost of approximately Rs 530 crore. It is designed to offer nearly 11 lakh square feet of organized, high-quality office space. Officials describe it as a state-of-the-art plug-and-play facility, emphasizing features like high-speed digital connectivity and a walk-to-work model. These amenities are specifically tailored to attract firms specializing in sectors such as fintech, artificial intelligence, data analytics, and IT-enabled services.
Himanshu Prajapati, the Executive Director of MPIDC's Indore region, confirmed the growing demand. "We are witnessing strong interest from companies both within and outside Madhya Pradesh," Prajapati stated. He explained that these parks are conceived to support scalable business growth, enable faster onboarding of companies, and lead to substantial long-term employment generation.
Projected Economic Impact and Timelines
The construction of IT Park-3 is expected to be finalized by the end of this year. Following completion, the process of selling office units will begin. Once fully operational, this park alone is projected to attract cumulative investments of up to Rs 5000 crore and create employment opportunities for nearly 15,000 professionals.
In a parallel development, IT Park-4 is being built with an investment of about Rs 47 crore. Its office spaces are also slated to go on sale in 2026. This project has a more modest but significant projected investment potential of around Rs 600 crore and is estimated to generate jobs for about 1,500 people.
MPIDC officials revealed an encouraging trend: companies from several other Indian states have already submitted Expressions of Interest (EOIs) for space in these upcoming parks. This indicates a growing interstate demand for Indore's evolving IT infrastructure.
Industry Perspective: Opportunities and Challenges
While the expansion is widely seen as timely, industry insiders point to areas needing continued focus. Atul Trivedi, an IT professional working with a mid-sized software firm in Indore, acknowledged the advantages. "Indore boasts strong talent retention and lower operating costs compared to metropolitan cities," he said.
However, Trivedi also highlighted ongoing challenges. "Companies still look for deeper client exposure, more specialized talent pools, and a faster maturity of the overall business ecosystem. While more IT parks will certainly help, parallel improvements in skilling initiatives and physical and digital connectivity will be equally crucial for sustained growth," he added.
Industry analysts interpret the rising demand for structured office space as a clear sign of Indore's gradual but steady emergence as a key technology and services hub in central India. This transformation is being actively propelled by targeted infrastructure expansion and concerted job creation efforts by state authorities.
