CM Vishnu Since the introduction of the new industrial policy, the Investor Connect Meet has secured investments worth Rs 1 lakh crore
Today, Chhattisgarh opened up opportunities for FDI as CM Vishnu Deo Sai held talks with US Consul General Mike Hankey and Russian Consul General Ivan Y. Fetisov about investment prospects in sectors such as health, education, IT, and tourism. During the second phase of the investment meet in Mumbai, Chhattisgarh secured Rs 6,000 crore in investments through industrial proposals from prominent companies in the plastic, textile, IT, and food processing sectors. The largest investment proposal, amounting to Rs 2,367 crore, came from Ambuja Cement.
CM Vishnu mentioned that since the introduction of the new industrial policy, the state has attracted investments worth Rs one lakh crore from the Investor Connect meets held in Raipur, Delhi, and Mumbai.
Top industrialists from both India and abroad engaged in extensive discussions with Chhattisgarh CM Vishnu Deo Sai to explore investment opportunities in the state. These discussions focused on potential investments aimed at boosting the state’s industrial growth and generating thousands of jobs. Investors from various sectors expressed strong interest in establishing businesses in Chhattisgarh.
Emphasizing the key aspects of the state’s new Industrial Policy for 2024-30, CM Vishnu explained that to make the policy more appealing to investors, they adopted the motto “Minimum Governance, Maximum Incentives.” This approach has streamlined the process of obtaining No Objection Certificates (NOCs) and allows clearances to be processed through a single-window system, providing significant ease for investors.
He emphasized that to promote investment and create employment opportunities, industries with investments of ₹1,000 crore or those employing 1,000 people are eligible for the Bespoke Policy. This policy offers provisions for permanent capital investment ranging from 30% to 50%, with amounts between ₹200 crore and ₹450 crore. Additionally, attractive incentives have been introduced for net SGST reimbursement, employment and EPF reimbursement, as well as training expense reimbursement for periods ranging from 5 to 12 years.
CM Vishnu also highlighted the state’s efforts to attract investments in emerging industries such as Artificial Intelligence, Robotics, Computing, and Green Hydrogen. He announced the launch of a new data center in Nava Raipur, which will further enhance the city’s development as an IT hub. Several IT companies have already begun operations in the region. Nava Raipur, with its modern infrastructure and well-planned Greenfield city setup, presents significant growth opportunities for the IT sector.
In addition, special concessions have been introduced in sectors such as electronics, pharmaceuticals, textiles, food, and agro-processing. A key initiative in this regard is the establishment of a pharmaceutical park in Nava Raipur, which is set to become the largest pharmaceutical park in Central India.
CM Vishnu also outlined plans to create a new industrial area covering 118 acres in the village of Niyanar, near the Nagarnar Steel Plant in Bastar. This industrial hub will provide significant opportunities for the large-scale development of small, micro, and medium enterprises.
He further emphasized that Bastar and Surguja have been prioritized for industrial investment promotion. To foster growth in these regions, incentives in core sectors have been introduced, along with discounts ranging from 50% to 100% on iron and coal royalties. There is also 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 prominent industrial groups have submitted proposals to invest in the state.
Welspun Group, a leader in plastics and textiles, has outlined plans to invest Rs 500 crore in Chhattisgarh. Drools Company has announced a Rs 625 crore investment in Rajnandgaon to expand pet food production and install a 30 MW solar power plant to meet its energy needs. Kritech Technologies has proposed an investment of Rs 600 crore in the state’s IT sector. Bombay Hospital Trust has committed to a Rs 700 crore investment in the healthcare sector.
Additional investment proposals include Nantex Machinery, which plans to invest Rs 45 crore, Nantex Industries at Rs 39.50 crore, Pidilite Industries at Rs 80 crore, and Vision Plus Security at Rs 50 crore. Aditya Birla Group Chairman Kumar Mangalam Birla also met with the Chief Minister to discuss expanding his industries in the state, with potential investments in textiles, paint, and jewelry. Tanya Dubash, Executive Director of Godrej Group, has shown interest in investing in chemical fertilizers, agriculture, food processing, and molded furniture manufacturing in Chhattisgarh.
Dr. Haseeb Drabu, Senior Advisor of Essar Group, a leader in sectors such as energy, steel, and logistics, has indicated the potential for investment in energy, infrastructure, steel, and mining in Chhattisgarh. Bombay Hospital Trust has expressed its intention to establish a world-class hospital in the state. The hospital, to be set up in Naya Raipur, will enhance healthcare services not only for Chhattisgarh but also for neighboring states. Mr. Santosh Kataria, President of the Clothing Manufacturers Association of India, noted during the meeting that the state’s mineral resources and accessible skilled labor present promising opportunities for the textile industry.