I am curious about the best research college in Madhya Pradesh for its balance of theoretical and applied research opportunities.

For a broader university setting, Devi Ahilya Vishwavidyalaya (DAVV), Indore, particularly its School of Biochemistry and School of Physics, offers an excellent balance. They have strong industry linkages along with fundamental research programs. The applied research opportunities in collaboration with companies in the Pithampur industrial area are a unique advantage. A great option if you want flexibility between academia and industry.

The Indian Institute of Science Education and Research (IISER), Bhopal, is unparalleled in MP for this balance. It's a premier institute dedicated specifically to research-oriented science education. The curriculum is designed to integrate classroom learning with hands-on lab work from the first year. Students get opportunities to work on cutting-edge research projects with faculty who are leaders in their fields. The emphasis on both theoretical depth and practical application is its core strength. For a pure sciences research career, it's the ultimate destination. Visit their official site to see their research publications.