Investor Connect Meet garners Rs 1 lakh crore investments since launch of new industrial policy: CM
Chhattisgarh CM Vishnu Deo Sai meets leading industrialists and investors in the Investors Connect Meet Mumbai
Mumbai, January 23, 2025: Chhattisgarh today paved way for FDI opportunities with Chhattisgarh Chief Minister Vishnu Deo Sai holding 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.
In the second leg of the investment meet in Mumbai, Chhattisgarh has 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 has attracted Rs one lakh crore investments from the Investor Connect meet organized in Raipur, Delhi and Mumbai.
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 the features of the state’s new Industrial Policy for 2024-30, Sai said that the state government has adopted the motto “Minimum Governance, Maximum Incentives.” to make the policy the preferred choice for investors. The process for obtaining No Objection Certificates (NOCs) has been streamlined, and clearances are now processed through a single-window system, offering significant relief to investors, he added.
He further stated that, to boost investment and employment opportunities, industries with investments of ₹1,000 crore or those employing 1,000 people are eligible for the Bespoke Policy. This policy includes 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 reimbursement for training expenses for a period of 5 to 12 years.
The Chief Minister said 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.
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 have 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.
*Many 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.
Dr. Haseeb Drabu, Senior Advisor of Essar Group, expressed interest in investing in sectors such as energy, infrastructure, steel, and mining in Chhattisgarh. Additionally, the Bombay Hospital Trust has shown a keen interest in building a world-class hospital in the state. The establishment of this hospital in Nava Raipur will not only enhance healthcare services for Chhattisgarh but also benefit the neighboring states.
Mr. Santosh Kataria, President of the Clothing Manufacturers Association of India, noted during the meeting that the state’s rich mineral resources and accessible skilled labor present significant opportunities for the textile industry in Chhattisgarh.
