Chhattisgarh’s Strategic Shift: Investing in Defense, Aerospace, and Space Technologies

Chhattisgarh is undergoing a significant transformation, evolving from a state predominantly known for its mineral resources and agriculture to a burgeoning hub for technological innovation and strategic industries. This shift is being spearheaded by Chief Minister Vishnu Dev Sai, who has not only modernized the state’s industrial policies to be more employment-focused but has also implemented crucial measures to attract investment in strategic sectors such as defense, aerospace, and space technology. A dedicated industrial incentive package was announced during a recent cabinet meeting chaired by the Chief Minister. This package aims to draw in investment and create new job opportunities for the youth of the state. Developed under the Chhattisgarh Industrial Development Policy 2024-30, this special package is a decisive move to promote the establishment and expansion of state-of-the-art industries. Companies involved in defense, aerospace, and space technology will be provided with incentives based on their fixed capital investment, including up to 100% SGST reimbursement or capital grants. Subsidies will be offered for investments ranging from 50 crore to over 500 crore, with a maximum limit of 300 crore rupees. Moreover, investors will be granted various benefits such as interest subsidies, electricity duty exemptions, stamp and registration fee reductions, land use change fee exemptions, employment generation incentives, EPF reimbursements, and training grants. The policy prioritizes the creation of sustainable employment for local youth. Industries that employ Chhattisgarh residents for the first time will also be eligible for grants of up to 20% of their salaries. The state will also support R&D in defense and aerospace, grants for Centers of Excellence, and special assistance for drone training centers, promoting technological advancement. Furthermore, units investing over 1000 crore rupees or employing over 1000 people will receive additional industrial incentives. This policy aims to cultivate a comprehensive ecosystem for employment, technical education, research, and innovation in Chhattisgarh. The goal is to empower Chhattisgarh’s youth to become job creators, aligning with national initiatives like ‘Make in India’ and ‘Atmanirbhar Bharat.’ Chhattisgarh is moving beyond traditional industries, positioning itself as a prime destination for investments in high-tech sectors, boosting economic growth, and paving the way for the youth’s success.