Raipur, December 11, 2024: Chhattisgarh’s Industrial Development Policy 2024-2030 came into effect on November 1, 2024, and will remain valid until March 31, 2030. The policy aims to create an environment conducive to industrial growth while aligning with India’s Vision 2047 for a developed nation. It emphasizes inclusive industrial development, promoting investment, employment generation, and socioeconomic upliftment.
Key Highlights of the Policy
1. Employment-Oriented Initiatives
The policy focuses on generating over 5 lakh jobs in the next five years, prioritizing skill-based employment. Industries creating 1,000 or more jobs will receive special incentives, while unemployed youth will benefit from a ₹15,000 per person training stipend to facilitate formal employment opportunities.
2. Sector-Specific Incentives
The policy provides tailored benefits for industries in emerging and traditional sectors:
- Emerging Sectors: Artificial Intelligence (AI), robotics, IT services, data centers, compressed bio-gas, and electric vehicles.
- Traditional Sectors: Pharmaceuticals, textiles, agro-processing, and non-timber forest products.
3. Support for Underserved Groups
Additional incentives target marginalized communities, including:
- Retired Agniveer soldiers and ex-servicemen, including paramilitary personnel.
- Naxal-affected individuals and self-rehabilitated Naxalites.
- Entrepreneurs from third-gender communities.
Special provisions allow SC/ST entrepreneurs to acquire industrial land at ₹1 per acre, providing significant economic opportunities.
Policy Provisions to Promote Investment
Financial and Tax Incentives:
- Subsidies: Interest subsidies, capital investment grants, and infrastructure support.
- Tax Benefits: Exemptions on stamp duty, electricity charges, and market fees.
- Reimbursement: Refunds on Value-Added Tax (VAT) and Goods and Services Tax (GST).
Focus on Service Sector:
For the first time, the policy introduces specific incentives for MSMEs and large-scale enterprises in the service sector. Prominent areas include:
- Engineering services
- Research and Development (R&D)
- Health and tourism industries
Geographical Classification:
To ensure balanced regional development, the state has divided its 146 development blocks into three groups, with tailored incentives for each group based on industrial potential.
Future-Ready Infrastructure
New Industrial Zones
- A 118-acre industrial area near Jagdalpur is under development.
- Government support will prioritize self-certification and online processes to minimize bureaucratic intervention.
Health Hub Initiative
Chhattisgarh is set to leverage its central location to become a healthcare hub, attracting investment in medical infrastructure and services.
Recent Developments: Investment Agreements
During the Stakeholder Connect Workshop on December 4, 2024, in Nava Raipur, 27 industrial groups committed to investing ₹32,225 crore in the state. These include notable companies such as Reliance Bio Energy and Shivalik Engineering. The investments span diverse sectors like IT, biofuels, electrical appliances, and steel.
Chhattisgarh is making significant strides toward industrialization under the leadership of Chief Minister Vishnu Dev Sai and Commerce and Industry Minister Lakhan Lal Devangan. The government is committed to creating a business-friendly environment that reduces red tape and prioritizes industrial self-reliance.
With this policy, Chhattisgarh aims to not only accelerate industrial growth but also lay the foundation for a prosperous and inclusive state by 2030.
Author: This news is edited by: Abhishek Verma, (Editor, CANON TIMES)
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