Chhattisgarh explores FDI opportunities with US, Russia; attracts Rs 6,000 crore investment in Mumbai

Key industrialists from both India and abroad engaged in extensive discussions with CM Sai to explore investment opportunities in the state.
CM Vishnu Deo Sai with Consul General of Russian Federation Ivan Y Fetisov in Mumbai
CM Vishnu Deo Sai with Consul General of Russian Federation Ivan Y Fetisov in Mumbai(Photo | Express)
Updated on
2 min read

RAIPUR: Chhattisgarh has paved the way for Foreign Direct Investment (FDI) opportunities, with Chief Minister Vishnu Deo Sai holding discussions with US Consul General Mike Hankey and Consul General of the Russian Federation Ivan Y Fetisov on investment possibilities in sectors such as health, education, Information Technology (IT), and tourism.

Russia has expressed its interest in investing in the defence sector, officials said.

In the second leg of the investment meet in Mumbai on Thursday, Chhattisgarh attracted Rs 6,000 crore in investments through various industrial proposals by leading companies focusing on plastic, textile, IT, and food processing sectors. The highest investment proposal, amounting to Rs 2,367 crore, came from Ambuja Cement.

"Since the launch of the new industrial policy a few months ago, the state has attracted Rs 1 lakh crore in investments from the Investor Connect Meet organised in Raipur, Delhi, and Mumbai," said the Chief Minister.

Key industrialists from both India and abroad engaged in extensive discussions with CM Sai to explore investment opportunities in the state.

"The discussions focused on exploring potential investments that will boost the state's industrial growth and create immense employment opportunities. Investors from various sectors showed keen interest in setting up businesses in the state," the official spokesperson said.

Highlighting the features of the state's new Industrial Policy 2024-30, the CM stated that to make the policy a preferred choice for investors, they have adopted the motto "Minimum Governance, Maximum Incentives." Under this approach, 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.

To boost investment and employment opportunities, industries with investments of Rs 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 percent to 50 percent, with amounts between Rs 200 crore and Rs 450 crore.

Additionally, attractive incentives have been introduced for net State GST reimbursement, employment and EPF reimbursement, as well as reimbursement for training expenses for a period of 5 to 12 years.

The state has introduced attractive provisions for investments in emerging industries such as Artificial Intelligence, Robotics, Computing, and Green Hydrogen.

The new capital city, ‘Nava Raipur,’ being a modern, well-equipped, and planned Greenfield city, offers abundant opportunities for the growth of the IT industry.

Special concessions have been provided in sectors such as electronics, pharmaceuticals, textiles, food, and agro-processing.

Related Stories

No stories found.

X
The New Indian Express
www.newindianexpress.com