The state of Chhattisgarh is no longer just a mineral and agriculture-dominated state, but is moving towards emerging as a new bastion of technological innovation and strategic industries. The foundation of this transformation has been laid under the leadership of Chief Minister Shri Vishnu Dev Sai, who has not only made the state’s industrial policies contemporary and employment-oriented, but has also taken historic decisions to attract investments in strategic sectors like defense, aerospace and space technology.
A separate industrial incentive package for these advanced technology sectors was announced in the recently held cabinet meeting chaired by Chief Minister Shri Sai. This package will not only attract investments in these sectors but will also open new doors of service and employment opportunities for the youth of the state.
This special package prepared under Chhattisgarh Industrial Development Policy 2024-30 is a decisive step towards encouraging the establishment and expansion of ultra-modern industries. Enterprises related to defense, aerospace and space technology will be given the facility of up to 100 percent SGST reimbursement or alternatively capital grant on the basis of permanent capital investment. A subsidy of up to 35 percent will be given to units investing from Rs 50 crore to more than Rs 500 crore, the maximum limit of which has been fixed at Rs 300 crore. Along with this, investors will also be given facilities like interest subsidy, exemption in electricity duty, concessions in stamp and registration fee, exemption in land use change fee, incentives based on employment generation, EPF reimbursement and training grant.
The most impressive aspect of this policy is that it gives priority to creating permanent employment for local youth. Industries which will employ residents of Chhattisgarh for the first time will also get a subsidy of up to 20 percent of the salary paid. This is the result of the state government’s thinking in which ‘development’ should not be limited to figures but should become a medium for real improvement in the standard of living of the common people.
Arrangements like grant of up to 20 percent of expenditure on setting up of R&D in defence and aerospace sector, capital investment grant on setting up of Centre of Excellence and special assistance for drone training centres will make the state self-reliant and a leader in the field of technology. Units which invest more than Rs 1000 crore or employ more than 1000 people will also get additional industrial incentives. This will encourage large companies at global and national level to invest in the state.
Chief Minister Shri Vishnu Dev Sai believes that along with new opportunities for industrial investment in Chhattisgarh, an integrated ecosystem of employment, technical education, research and innovation should be created. The youth of Chhattisgarh should not only become job seekers but also job providers. This industrial policy is an important step towards giving a new identity to the state in line with national campaigns like Make in India and Atmanirbhar Bharat. Chhattisgarh is now moving beyond traditional industries and becoming a destination for investment in high-tech sectors like defense and aerospace. This will not only accelerate the economic prosperity of the state, but will also open the way for the youth of Chhattisgarh to reach new heights of dreams.