104 MoUs in two years for setting up industries in Chhattisgarh

New Delhi: A total of 104 MoUs have been signed in the last two years under the leadership of Chhattisgarh Chief Minister Bhupesh Baghel for setting up industries in the state with a proposed capital investment of more than Rs 42,000 crore. These industries will generate more than 64,000 new employment opportunities for the youths of Chhattisgarh.

The new industrial policy of Chhattisgarh and the steps taken by the state government in the interest of industries during the Corona period have led to the creation of a better industrial environment in the state. During the Corona-crisis period, the entire country was affected by the economic slowdown, while industries in Chhattisgarh remained untouched by the recession.

During the lockdown, Chhattisgarh's industries were first in the country to have started functioning in the month of April 2020. Many concessions and facilities were given by the state government keeping in view the difficulties faced by the industries. Industries in the core sector were given subsidies in electricity bills. All necessary arrangements were made to ensure supply of raw materials, and finished goods to reach the market. Guidelines were also issued to enable easy supply of raw materials from other states to Chhattisgarh.

To ensure running of steel and cement industries, activities like road and building construction work were continued with no change in electricity rates and in the terms and conditions. Rice mills were given five percent rebate in energy charges. Industries were also given exemption in due date of payment of electricity bills. During the lockdown period, Chhattisgarh produced 27 lakh tonnes of steel, which was the highest compared to other states. A new industrial policy was formulated, which opened new doors of possibilities for industries and also strengthened agriculture sector in the state.

The new policy gave priority to agriculture and forest produce based industries. All kinds of incentives are being given to mineral based industries. Under the new industrial policy, special investment incentive package has now been arranged for investment in the mega ultra-mega project of sponge iron and steel sector.

Investment incentives up to a maximum of Rs 500 crores has been given in this package for mega investors and investment incentive of Rs 1000 crores was being given for Bastar division.