Chhattisgarh government is considering amending its industrial policy to accommodate the downstream industries that it has now targeted for investment in the mineral-rich state.
Under the proposal, the state government would curtail the size of the investment required for inking a memorandum of understanding (MoU). The existing industrial policy ensures that the government would sign MoU for an investment above Rs 100 crore.
“Since no downstream industry has an investment proposal of more than Rs 100 crore, the government is working on the plan to cut short the size of the investment,” a senior official with industry department told Business Standard. The government would ink agreement even for an investment below Rs 100 crore, he added.
According to industry department officials, the government would be forced to sign MoU for even a proposal of Rs 10 crore. For, many downstream industries that the state government had been targeting do not big proposals.
