Raipur, 28 October 2024/Chhattisgarh's new Industrial Development Policy 2024-2030 was approved in the cabinet meeting held today at Mahanadi Mantralaya Bhawan under the chairmanship of Chief Minister Shri Vishnu Dev Sai. In the new industrial policy, the Government of Chhattisgarh has made several provisions with the aim of realizing the vision of Vision 2047 of the Government of India and accelerating the industrial development of the state. To convert the trained persons of the state into formal employment, a provision of training stipend reimbursement of Rs 15,000 per person has been made for the industries. The new industrial policy will be applicable from 01 November 2024 to 31 March 2030.
Industry Minister Shri Lakhanlal Dewangan said that the investment incentives in the new industrial policy include interest subsidy, cost capital subsidy, stamp duty exemption, electricity duty exemption. There is a provision for reimbursement of value added tax. In the new policy, provisions have also been made for market fee exemption, disabled employment grant, environmental project grant, transportation grant, reimbursement of net state goods and services tax.
Minister Shri Dewangan said that in the new industrial policy, with the aim of creating employment for the youth of the state, a B-spoke package is provisioned for industries in specific areas on the basis of creating more than one thousand local jobs. There is a provision to give more incentives under the new industrial policy to the residents of the state, especially Scheduled Castes, Tribes, women entrepreneurs, retired Agniveer soldiers, ex-servicemen, including paramilitary. Naxal affected, weaker sections and third gender entrepreneurs will also be eligible for special incentives under the new industrial policy.
For the first time in the new industrial policy, provision for separate incentives has been made for MSME service enterprises and large service enterprises under the service sector. Under the service sector, activities related to engineering services, research and development sector, tourism and entertainment sector etc. have been included. In this policy, a large number of service category enterprises have also been considered eligible for industrial investment promotion, in which the sectors of tourism, entertainment and other social services and home-stay services in Surguja and Bastar divisions have also been included.
In this policy, the definition of micro, small and medium enterprises has been made in line with MSME as defined by the Government of India. The incentives received by these enterprises are designed to be competitive compared to other states. For the convenience of investors, separate industrial investment promotion provisions have been made for micro, small and medium industries and large industries.
The new industrial policy includes pharmaceuticals, textiles, agriculture and food processing and non-timber forest products (NTFP) processing, compressed bio gas, green hydrogen, electrical and electronics, Artificial Intelligence (AI), Robotics and Computing (GPU). There is provision for attractive separate industrial investment incentives for IT, ITES, data centres, hydropower projects, solar energy projects etc.
Through this policy, provision for Udyam Kranti Yojana has been made to make the youth self-reliant by starting their own business. Under this scheme, there is a provision to provide subsidized loans to the educated unemployed youth of the state for setting up their own enterprises.
There is a provision of additional incentives for those industries in the thrust sector, where the state has a competitive advantage and where future employment is coming. There is a provision for establishment of Industrial Corridor to place Korba-Bilaspur-Raipur of the state in the industrial map of the country.
It is worth noting that for the formulation of the new industrial policy, the Industry Department held in-depth consultation with all the stakeholders, industrial organizations, industrial groups and related departments for a year. After studying the industrial policies of the leading states of the country, the best provisions have been included keeping in mind the essential local needs of the state.
The Industries Minister said that through the new policy, keeping in mind the overall, balanced and inclusive industrial development of all the areas of the state, the development blocks have been classified into three groups. In the first group, 10 development blocks have been included, in the second group 61 development blocks have been included and in the third group, 75 development blocks which are extremely backward in terms of industry have been included.
