Bhagnani held a meeting with Chouhan in the state capital yesterday, it said.
The chief minister has assured him of seriously considering the proposal and said that there were immense possibilities to set up film studios in Madhya Pradesh as a number of films have been shot in Bhopal.
Bhagnani, who urged Chouhan to make available land to establish film studios in Indore and Bhopal, said he planned to construct such a studio, where a number of films can be shot at the same time.
An amount of Rs 500 crore is planned to be invested for the construction of a studio in the first phase, which will generate employment opportunities directly and indirectly, the press release quoted Bhagnani as saying.