Mumbai (Maharashtra) [India], January 24 (ANI): Chhattisgarh on Friday paved way for FDI opportunities after Chhattisgarh Chief Minister Vishnu Deo Sai held discussions with US Consul General Mike Hankey and Consul General of Russia Ivan Y. Fetisov on investment possibilities in Chhattisgarh in sectors like health, education, IT and tourism, as per a release.
In the second leg of the investment meet in Mumbai today, Chhattisgarh attracted Rs 6,000 crore investment through various industrial proposals by leading companies focusing on plastic, textile, IT, food processing sectors. The highest amount of investment proposal of Rs 2,367 crore came from Ambuja Cement.
The Chief minister said that since the launch of the new industrial policy the state had attracted Rs one lakh crore investments from the Investor Connect meet organized in Raipur, Delhi and Mumbai, a statement from the release stated.
Key industrialists from both India and abroad engaged in detailed discussion with Chhattisgarh Chief Minister Vishnu Deo Sai to explore investment opportunities in the state.
The discussions were focused on exploring potential investments that will boost the state’s industrial growth and create thousands of employment opportunities. Investors from various sectors showed keen interest in setting up business in the state.
Highlighting features of the state’s new Industrial Policy for 2024-30, the Chief Minister stated that to make the policy the preferred choice for investors, they adopted the motto “Minimum Governance, Maximum Incentives.”
Under this approach, the process for obtaining No Objection Certificates (NOCs) had been streamlined, and clearances were now processed through a single-window system, offering significant relief to investors.
He highlighted that, to boost investment and employment opportunities, industries with investments of Rs 1,000 crore or those employing 1,000 people were eligible for the Bespoke Policy.
This policy includes provisions for permanent capital investment ranging from 30% to 50%, with amounts between Rs 200 crore and Rs 450 crore.
Additionally, attractive incentives have been introduced for net SGST reimbursement, employment and EPF reimbursement, as well as reimbursement for training expenses for a period of five to 12 years.
The Chief Minister highlighted that the state has introduced attractive provisions for investments in emerging industries such as Artificial Intelligence, Robotics, Computing, and Green Hydrogen. He also announced the launch of a new data center in Nava Raipur, further bolstering the city’s transformation into an IT hub.
Several IT companies have already started operations in the area. Nava Raipur, being a modern, well-equipped, and well-organized Greenfield city, offers abundant opportunities for the growth of the IT industry.
In addition to this, special concessions have been provided in sectors like electronics, pharmaceuticals, textiles, food, and agro-processing. A major step in this direction is the establishment of a pharmaceutical park in Nava Raipur, which is set to become the largest pharmaceutical park in Central India.
The Chief Minister further mentioned plans to establish a new industrial area spanning 118 acres in the village of Niyanar, near the Nagarnar Steel Plant in Bastar. This new industrial hub will create significant opportunities for the development of small, micro, and medium enterprises on a large scale.
The Chief Minister emphasized that Bastar and Surguja had been designated as the highest-priority regions for industrial investment promotion.
To encourage growth in these areas, incentives in core sectors, as well as discounts ranging from 50% to 100% on iron and coal royalties, have been introduced. Additionally, there is a provision for reimbursement of cess up to 150%.
The meeting was attended by several senior officials, including Minister of the Industries Department Lakhan Lal Dewangan, Chief Secretary of Chhattisgarh Amitabh Jain, Secretary to the Chief Minister Rahul Bhagat, Secretary of the Industries Department Rajat Kumar, Investment Commissioner of Chhattisgarh in New Delhi Ritu Sain and Managing Director of CSIDC Vishwesh Kumar.
Several major industrial groups have given proposals to invest in the state
Welspun Group, a leader in the field of plastic and textile, has shared plans to invest Rs 500 crore in Chhattisgarh. Drools Company has announced an investment of Rs 625 crore in Rajnandgaon to increase the production of pet food. A 30 MW solar power plant will also be installed by the company to meet the energy needs.
Kritech Technologies has proposed to invest Rs 600 crore in the IT sector in the state. Bombay Hospital Trust has offered to invest Rs 700 crore in healthcare sector.
Various other investment proposals were also received some includes Nantex Machinery plans to invest Rs 45 crore, Nantex Industries Rs 39.50 crore, Pidilite Industries Rs 80 crore and Vision Plus Security Rs 50 crore.
Aditya Birla Group Chairman Kumar Mangalam Birla also met the Chief Minister and discussed about the expansion of his industries in the state. Aditya Birla Group has expressed the possibility of investing in the field of textiles, paint and jewellery in Chhattisgarh.
Tanya Dubash, Executive Director of Godrej Group, has also expressed the possibility of investment in the field of chemical fertilizers, agriculture and food processing as well as molded furniture manufacturing in Chhattisgarh.
Haseeb Drabu, Senior Advisor of Essar Group, a leader in sectors like energy, steel, and logistics, has expressed the possibility of investment in sectors like energy, infrastructure, steel and mining in Chhattisgarh. Bombay Hospital Trust has expressed its desire to build a world-class hospital in the state. The establishment of the hospital in Naya Raipur will provide better health services not only to Chhattisgarh but also to the surrounding states.
Santosh Kataria, President of Clothing Manufacturers Association of India, said during the meeting that mineral resources and accessible skilled labor have good prospects for the textile industry in the state. (ANI)
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