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Chhattisgarh’s industrial growth story gained new momentum with a significant ₹6,000 crore investment commitment secured at the Mumbai Investor Connect Meet. Under the visionary leadership of Chief Minister Vishnu Deo Sai, the event drew interest from leading industrialists, cementing Chhattisgarh’s position as a prime investment destination. Ambuja Cement emerged as the top investor, proposing a substantial ₹2,367 crore infusion into the state’s growing industrial landscape.
This is the latest in a series of successful investment drives that have helped Chhattisgarh attract over ₹1 lakh crore in investments since the introduction of its new industrial policy. The Mumbai event follows similar successful meets in Raipur and Delhi, showcasing the state’s robust investor-friendly approach.
Global Partnerships in Focus
Chief Minister Sai’s international outreach efforts were also on display at the Mumbai meet, where he held discussions with US Consul General Mike Hankey and Russian Consul General Ivan Y. Fetisov. The focus of these talks was to explore foreign direct investment (FDI) opportunities, particularly in infrastructure, to further bolster Chhattisgarh’s economic growth.
Major Investment Proposals at the Mumbai Meet
Several prominent companies announced significant investment plans, highlighting the wide array of sectors attracted to Chhattisgarh’s business-friendly environment. Key proposals included:
- Welspun Group: Committing ₹500 crore for investments in plastic and textile manufacturing.
- Drools Company: Announcing a ₹625 crore investment for a pet food production facility in Rajnandgaon, along with a 30 MW solar power plant.
- Kritech Technologies: Pledging ₹600 crore towards IT sector expansion.
- Bombay Hospital Trust: Committing ₹700 crore for the creation of a state-of-the-art healthcare facility in Naya Raipur.
In addition, several other companies presented proposals, including:
- Nantex Machinery: ₹45 crore
- Nantex Industries: ₹39.50 crore
- Pidilite Industries: ₹80 crore
- Vision Plus Security: ₹50 crore
The event also saw industrial leaders like Kumar Mangalam Birla of Aditya Birla Group and Tanya Dubash of Godrej Group discussing potential investments in sectors such as textiles, paint, jewellery, chemical fertilizers, and food processing.
Industrial Policy 2024-30: A Game-Changer
Chief Minister Sai used the platform to highlight the state’s Industrial Policy 2024-30, which focuses on simplifying the investment process with the motto “Minimum Governance, Maximum Incentives.” The policy offers a range of attractive incentives, including:
- Tailored Benefits: Companies investing ₹1,000 crore or employing 1,000 workers can benefit from permanent capital investment support ranging from 30% to 50%, with additional SGST, EPF, and training reimbursements for up to 12 years.
- Support for Emerging Sectors: Special incentives are being offered for businesses investing in Artificial Intelligence, Robotics, Green Hydrogen, and Computing.
- Infrastructure Expansion: The development of a new data centre in Nava Raipur and a pharmaceutical park will fuel IT and healthcare growth, making Chhattisgarh a central hub for both industries.
Boosting Regional Development
The policy also prioritizes the development of high-potential regions like Bastar and Surguja, offering targeted incentives for investors, including:
- 50%-100% discounts on iron and coal royalties.
- Cess reimbursement of up to 150%.
A new 118-acre industrial zone near the Nagarnar Steel Plant in Bastar is also being developed to promote small and medium-sized enterprises, further accelerating regional economic growth.
Job Creation and Economic Impact
The investment commitments made at the meet are expected to create thousands of jobs across various sectors and drive skill development initiatives. Chhattisgarh’s abundant natural resources, coupled with a skilled labor force, have made it an ideal destination for industries like textiles and agro-processing.
Looking Ahead: Future Prospects
Chhattisgarh’s future looks promising, with key stakeholders expressing interest in further investments. Essar Group’s Senior Advisor, Dr. Haseeb Drabu, indicated the group’s plans for investments in energy, infrastructure, steel, and mining. Bombay Hospital Trust is set to build a cutting-edge hospital in Naya Raipur, which will benefit not only Chhattisgarh but also neighboring states. Santosh Kataria, President of the Clothing Manufacturers Association of India, highlighted the state’s potential for the growth of the textile industry due to its vast resources and skilled workforce.
Setting the Stage for Long-Term Growth
The Mumbai Investor Connect Meet has proven to be a major success, showcasing Chhattisgarh’s growing industrial landscape and forward-thinking policies. With commitments amounting to ₹6,000 crore and further discussions underway, the state is poised for exponential growth. The active engagement of Chief Minister Sai with top industrialists and diplomats underscores Chhattisgarh’s dedication to fostering an inclusive and thriving economy.
Leadership Participation
The event was attended by key state officials, including Industries Minister Lakhan Lal Dewangan, Chief Secretary Amitabh Jain, and Investment Commissioner Ritu Sain, who reiterated the state’s vision for sustainable and inclusive industrial development. Together, they laid out a roadmap for the continued transformation of Chhattisgarh’s economic landscape.