Chhattisgarh Attracts Rs 15,184 Crore in Investment Proposals

Raipur: Chhattisgarh has received investment proposals worth Rs 15,184 crore from leading companies across various sectors such as semiconductor, electric vehicles (EV), and renewable energy, according to an official statement released on Monday.

During an investor connect meet, prominent industrialists from both India and abroad engaged in detailed discussions with Chief Minister Vishnu Deo Sai to explore potential investment opportunities in the state.

The discussions were centered around exploring investments that would enhance industrial growth and generate thousands of employment opportunities, as stated by the state government.

Investors from various sectors showed keen interest in setting up business in the state.

The highest investment proposal of Rs 11,500 crore came from Renew Power Limited. Company’s Chairman and CEO Sumant Sinha said the proposal was for setting up pump storage and green hydrogen projects in the state.

Other investment proposals include Rs 1,650 crore by TWI group for setting up manufacturing unit for EV kits for bikes, logistics centre of excellence and bamboo park; Rs 1,134 crore from Polymatech Electronics Limited MD Ishwar Nandan in the semiconductor sector. Teleperformance COO Ashish Johri shared an investment plan to set up a BPO centre by investing Rs 300 crore.

Varun Beverages CEO Kamlesh Jain expressed his desire to invest Rs 250 crore in PepsiCo bottling plant, Praveen Gupta of Paramount Communications promised an investment of Rs 250 crore and ensuring about 1,000 jobs and Micromax's Rajesh Agarwal proposed an investment of Rs 100 crore in solar cell manufacturing unit.

"The Industry Department has streamlined subsidy issuance with a maximum of three levels and a time limit of seven days. This ensures a quick and efficient approval system," the chief minister said while highlighting the state's efforts to simplify and expedite the investment process.

He assured complete support to investors and also emphasised the state's commitment to providing timely approvals and facilitating ease of doing business.

To encourage industrial development, the state government is offering a 30 per cent subsidy for private industrial parks under the 'minimum government' concept. Moreover, industries seeking to establish operations will receive ready and developed plots within 60 days of application.

The state has signed an MoU with IIM Raipur, under which IIM graduates will be appointed as investment managers through the Chief Minister's Industrial Internship programme. These managers will provide remote assistance to industrialists, helping them simplify processes and offer tailored support.

Addressing the gathering, Chhattisgarh Industry Secretary Rajat Kumar said Chhattisgarh is not just about mines and minerals, it is rapidly evolving into a significant hub for electric vehicle (EV) manufacturing.

He said that the state is diversifying its industrial base and has become a key player in the production of a wide range of products, from pharmaceuticals and train shells to televisions and lighting equipment.

“In an effort to further boost economic growth and attract investments, the Chhattisgarh government is actively introducing reforms in its policies. These reforms are designed to create a more favourable business environment, with incentives aimed at both domestic and international investors," Kumar said.

The initiative is expected to significantly contribute to the national goals of 'Make in India' and 'Digital India,' marking a key step in Chhattisgarh's economic development and industrialization.

Elaborating further on the initiatives taken by the state government, the chief minister said that the Industry Department has streamlined the subsidy issuance process with a maximum of three levels and a time limit of seven days, ensuring a fast and efficient approval system.

(with agency inputs)