Chhattisgarh CM Engages with US and Russian Diplomats to Boost FDI

Mumbai, Jan 23 (NationPress) In a bid to enhance FDI, Chhattisgarh's Chief Minister Vishnu Deo Sai engaged with US Consul General Mike Hankey and Russian Consul General Ivan Y. Fetisov to discuss investment opportunities in health, education, IT, and tourism, as confirmed by an official on Thursday.

During the second phase of the investment conference in Mumbai, Chhattisgarh successfully secured Rs 6,000 crore in investments via numerous industrial proposals from prominent firms targeting the plastic, textile, IT, and food processing sectors.

The highest investment proposal, amounting to Rs 2,367 crore, was put forth by Ambuja Cement, according to an official announcement.

The Chief Minister noted that since the inception of the new industrial policy, the state has attracted a remarkable Rs 1 lakh crore in investments from the Investor Connect meet held in Raipur, Delhi, and Mumbai.

Key industry leaders from both domestic and international backgrounds engaged in comprehensive discussions with CM Vishnu Deo Sai to assess investment prospects within the state, the statement revealed.

The dialogues aimed at identifying potential investments that would stimulate the state’s industrial advancement and generate thousands of job opportunities. Investors from various industries displayed a strong interest in launching businesses in the region, the report added.

Emphasizing the aspects of the state’s new Industrial Policy for 2024-30, CM Sai remarked that to position the policy as the top choice for investors, they have embraced the principle of “Minimum Governance, Maximum Incentives.”

This strategy involves simplifying the process for acquiring No Objection Certificates (NOCs) and managing clearances through a streamlined single-window system, providing significant ease for investors.

He stressed that to enhance investment and job creation, industries with investments exceeding Rs 1,000 crore or those employing over 1,000 individuals qualify for the Bespoke Policy.

This policy encompasses provisions for permanent capital investments ranging from 30 percent to 50 percent, with amounts between Rs 200 crore and Rs 450 crore. Furthermore, appealing incentives have been introduced for net SGST reimbursement, employment and EPF reimbursement, along with training expense reimbursements for a period of 5 to 12 years, as stated in the report.

The Chief Minister underscored that the state has rolled out attractive initiatives for investments in emerging sectors such as Artificial Intelligence, Robotics, Computing, and Green Hydrogen.

He also unveiled plans for a new data center in Nava Raipur, further advancing the city’s evolution into an IT hub. Numerous IT companies have already commenced operations in the area. Nava Raipur, characterized as a modern, well-equipped, and organized Greenfield city, presents ample opportunities for the IT industry’s expansion.

Additionally, exclusive concessions have been granted in sectors such as electronics, pharmaceuticals, textiles, food, and agro-processing. A significant milestone in this initiative is the establishment of a pharmaceutical park in Nava Raipur, which is poised to become the largest pharmaceutical park in Central India.

The Chief Minister further revealed intentions to create a new industrial zone spanning 118 acres in the village of Niyanar, adjacent to the Nagarnar Steel Plant in Bastar. This new industrial center will provide substantial opportunities for the growth of small, micro, and medium enterprises.

He emphasized that Bastar and Surguja have been prioritized as key regions for promoting industrial investment.

Several senior officials attended the meeting, 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.