Chhattisgarh govt woos companies from Bengaluru to invest in state

The Chhattisgarh government has received investment proposals worth ₹3,700 crore from industries in Karnataka as the state tries to allay fears of Naxalite disturbances and present itself as an attractive investment destination.

 

Chhattisgarh Chief Minister Vishnu Deo Sai engaged with top industrialists and business leaders in Bengaluru on Wednesday as part of a roadshow to explore investment opportunities in information technology (IT), information technology-enabled services (ITeS), textiles, electronics, food processing, and green fuel sectors.

 

Sai has earlier visited New Delhi and Mumbai as part of his attempt to add to the state’s economy of existing heavy industries such as iron and steel to IT and a greater number of small and medium industries.

 

About 16 per cent of the country’s steel and 15 per cent of aluminium is produced in the state.

 

Speaking to industrialists, the chief minister said: “We are developing Nava Raipur as the largest IT hub in central India. An investment of $1.6 billion has been made here, which will make the infrastructure here at par with the best cities in the country.”

 

Representatives from companies such as BEML, Gokaldas Exports, and Britannia praised the state’s business-friendly policies and infrastructure support.

 

Sai said that under the government’s new industrial policy, special provisions have been made for large industries, offering a 30-50 per cent return on capital investment (₹200 to ₹450 crore).

 

Special concessions have been announced for electrical and electronics, pharmaceuticals, textile, food, and agro processing sectors. The state is also setting up a pharmaceutical park in Nava Raipur which will be the largest pharmaceutical park in central India.

 

The new industrial policy has led to investment proposals worth ₹1 trillion from Raipur, New Delhi, and Mumbai, the state government said last month.

 

The state has designated Bastar and Surguja as “highest-priority regions” for industrial investment promotion. To encourage growth in these areas, incentives in certain sectors, as well as discounts ranging from 50-100 per cent on iron and coal royalties, have been introduced. Additionally, there is a provision for reimbursement of cess up to 150 per cent.

 

The chief minister further said that there is a greater focus on building infrastructure. Chhattisgarh has great connectivity, with expressways to Ranchi, Visakhapatnam, and Hyderabad being built and nearly complete. The state also has excellent rail, road, and air connections and in terms of power generation, is one of the leading states of the country,” he added.