The Government of Chhattisgarh has called upon potential investors to opt for parking their surpluses in the state, stating that it provides for the best of investment environment in which the rate of returns on investments (RoI) are handsomely rewarded with virtually no political and bureaucratic hurdles. It emphasised that the state had geared up to sign Memoranda of Understanding (MoU) for realising investment potential of Rs 25,000 crore in next week or so in the area of infrastructure such as power, railways, and roads.
The plea was made by Amar Agrawal, state minister for commerce and industries and public enterprises, commercial taxes, urban administration and development, while addressing—An Evening for Business Linkage with Chhattisgarh – Investment Opportunities in the Food Processing Industry—held recently under aegis of PHD Chamber of Commerce and Industry. He said, “The state has offered land on demand for industry in each of state’s 27 districts as it has already created a landbank of close to 7,200 hectare and that land acquisition is not at all an issue for project execution in the state.”
Agrawal stated that the state had already begun to prepare for Goods and Services Tax (GST) as it felt that this consumption-led tax would benefit the whole country and compensate adequately states like Chhattisgarh which would be likely to lose at in its earlier stages of implementation.
Speaking on the occasion, Subodh Kumar Singh, secretary to chief minister, commerce and industries and mining, Government of Chhattisgarh, said that the state had already signed host of MoUs in the past, cornering several thousands of crores’ projects in the field of coal mines, aluminium and minerals.
According to him, the response of investors in Chhattisgarh is so much because of its industrial and other policies that in next 7-8 days additional MoUs would be signed with investors in which a minimum of Rs 25,000 crore of investment is expected to come in the state.
Chhagan Lal Mundhra, chairman, Chhattisgarh State Industrial Development Corporation Ltd, in his observations endorsed what Agarwal said about Chhattisgarh, he however added that in the last 15 years, after the state was carved out of Madhya Pradesh, it made substantial progress and committed to go farther to emerge as one of the best investment destinations in the country.
Further, Kartikeya Goel, director, directorate of industries, Government of Chhattisgarh, made a detailed presentation on the state’s prospects on food processing industry and said that it offered the best of tax incentives and other benefits for those who select Chhattisgarh for investment in the sector. The benefits are much more rewarding and intensive for backward states.
The conference was presided over by president of PHD Chamber Alok B Shriram. N M Kejriwal, chairman, agribusiness committee of the chamber; and Veenu Jain, chairman, Chhattisgarh State Committee, PHD Chamber; welcomed the officials of Chhattisgarh government.
