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Chhattisgarh amends Industrial Development Policy; aims to woo investment

The Chhattisgarh government has decided to amend the Industrial Development Policy 2024-30 to promote industries and encourage investment in the state. The council of ministers approved several important amendments in the policy at the cabinet meeting held on Wednesday under the chairmanship of Chief Minister Vishnu Deo Sai. 'The amendments will make the state's industrial policy more employment-oriented, comprehensive, and beneficial for enterprises,' a state government statement said. The policy, which was notified on February 27, envisages 'Amrit Kaal: Chhattisgarh Vision 2047 with an aim to set new benchmarks in the industrial development of the state.' It was set to be effective from November 1, 2024, to March 31, 2030, with provisions for periodic review and amendments as required. The statement said the proposed amendment would increase new employment opportunities in the state as well as promote the sectors ranging from modern farming to the toy industry. Under the new policy, industries which will employ Chhattisgarh people will get grants from the government. Modern farming techniques like hydroponic and aeroponic will be promoted. Farmers will get the benefit of new technology, such as automation and internet of things. The amendment also eyes promotion of tourism and hotel business in the state. The statement said the minimum limit of investment for building hotels and resorts in Bastar and Surguja divisions has been reduced, which will increase tourism in these areas and provide employment to local people. The policy also aims to double encouragement to the textile industry. 'Now up to 200 per cent incentive will be given for investing in the textile sector,' the statement said, adding that it will also benefit those who sew, embroider, and knit. The changed policy will also facilitate Chhattisgarh to become a logistics hub. A new logistics policy will be brought to make freight and trade easier. It will benefit traders and provide easier market access. With a purpose to provide special benefits to Divyangjan, the amendment has revamped the definition of Divyangjan so that they can get more benefit from schemes. Global Capability Centre, special package for defence and aerospace sector, increase in infrastructure grants for private industrial parks, and encouragement for setting up of plug and play factories are a few other salient features in the amendment.