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Raman Singh woos US investors to Chhattisgarh

Press Trust of India  |  New York 

Chief Minister has invited US companies to the resource-rich state and invest in "sunrise sectors" like IT and defence, assuring them of a secure environment and investor friendly policies.

Singh, currently on an official tour of the US, will meet investors, experts and companies in Chicago, New York and San Francisco inviting investments in the mineral rich

"We are here to inform investors and American firms that is the best destination for investment not just in the core sectors of mines and minerals but also in sunrise areas like IT, engineering and solar energy," Singh told PTI here.

He said investors may not be fully aware of the investment opportunities in the young state and his visit aims to not only invite investments but also assure American industries of a safe and secure environment for their investments.

Given that the state came into existence only 16 years ago, Singh said investors need to be informed about the tremendous potential across sectors in the state, particularly the sunrise sectors.

"We want the investors to know about the investment potential of the state. We will also allay concerns that the companies might have about the security situation in the state," he said.

Singh added that the government is committed to improving infrastructure in the Naxal-hit regions of the state like Bastar, where a three million tonne steel plant is coming up.

Drawing on Prime Minister Narendra Modi's 'Make in India' campaign, which he said is a catalyst for boosting investment and creating a business-friendly ambience, Singh emphasised that his government has initiated 'Make in Chhattisgarh'.

While the state's core strengths lie in its mines, minerals, steel and aluminum sectors, Singh said his government's focus is inviting investments in the "sunrise sectors" of IT, electronics, defence, engineering, food processing, pharma, textile and solar energy.

"These new focus sectors will help us in diversifying our state's economy and attain new and untapped growth opportunities," he said.

Singh also emphasised that ease of doing business is emerging as a key differentiator in investment decisions and his government has implemented reforms and put in place policies that provide a conducive business environment that is important to boost industrial growth.

Singh also termed the Indian government's demonetisation move as a "very big reform" which will not only stem the generation of black money but will also cut the flow of resources through which the Naxals procured arms and ammunition.

He said reforms like demonetisation and the Goods and Services Tax will help the Indian economy in the long-term, attracting investments and boosting economic growth across states.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 29 2016. 14:22 IST