Chhattisgarh CM Vishnu Deo Sai Showcases Government's Industrial Strategy at India Economic Conclave
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New Delhi, Dec 13 (NationPress) Chhattisgarh Chief Minister Vishnu Deo Sai on Friday showcased his government’s industrial strategy initiatives that are set to significantly influence India's overall development.
He asserted that the state’s new industrial strategy is a pivotal step toward establishing Chhattisgarh as an industrial nucleus, concentrating on enhancing regional economic growth, generating employment, and upgrading infrastructure, according to a statement.
This policy is particularly focused on boosting growth in tribal and underdeveloped regions, ensuring that the gains from development are equitably distributed and contribute to the nation's extensive economic advancement.
Emphasizing a key aspect of the new strategy, the chief minister remarked that the industrial policy prioritizes job creation, especially in tribal areas, with an objective of generating 5 lakh new jobs over the next five years.
The integration of tourism into the industrial strategy is expected to provide a significant income boost to residents of these regions while also generating numerous employment opportunities, the chief minister stated during his address at the 10th Edition of the India Economic Conclave held at Bharat Mandapam in New Delhi.
Further elaborating, he disclosed that the new industrial strategy also includes significant rehabilitation incentives for industries that employ surrendered Naxals, offering up to 40 percent reimbursement of their net salary, with a subsidy cap of Rs 5 lakh per annum for five years.
This initiative is part of a larger strategy to promote development in Bastar, where small, medium, and micro industries will benefit from a variety of support measures. These include capital investment grants of up to 45 percent on investments between Rs 45 lakh and Rs 8 crore, along with SGST reimbursement of up to 150 percent for the next decade, fostering a favorable environment for local economic expansion and social integration.
Chhattisgarh Secretary, Industry Department, Rajat Kumar and Director Industries Prabhat Mallik presented on Naya Raipur and the new industrial strategy at the conclave.
Regarding investment incentives and MSME support, the state government asserted that it is also providing a broad range of incentives to stimulate investments.
These incentives include exemptions on stamp duty and electricity duty, along with 10 other types of investment incentives. A new 118-acre industrial area is being developed for ancillary units of the Nagarnar Steel Plant in Bastar, intended to support micro, small, and medium industries. The launch of Single Window System 2.0 will further expedite the clearance process for investors by consolidating approvals from various departments into one location.
