Chhattisgarh govt to host Investor Connect event in Bastar

Raipur, Sep 8 (PTI) The Chhattisgarh government will host the next edition of its Investor Connect event in Bastar on September 11, an official said on Monday.

The state's Commerce and Industries department, under the leadership of Chief Minister Vishnu Deo Sai, has decided to host the event in the tribal-dominated region to boost regional development, he said.

This flagship investment promotion initiative, Chhattisgarh Investor Connect, has already been successfully held in Delhi, Mumbai, Bengaluru, Raipur, and internationally in Tokyo, Osaka, and Seoul, garnering investment commitments worth Rs 6.65 lakh crore since November 2024, according to a government statement.

With the Bastar edition, the government is extending this momentum to one of the state's most dynamic regions, it said.

More than 200 prominent investors, industry leaders, and local entrepreneurs are expected to attend the event, making it a high-profile platform for collaboration and growth, it said.

Several high-value Memorandums of Understanding (MoUs) are expected to be signed, marking significant new steps in Bastar's development journey.

"Our government is dedicated to creating a future where Bastar's youth receive the skills and opportunities they deserve to become active partners in Chhattisgarh's growth story. Every initiative under the Industrial Policy is carefully designed to empower local communities and ensure that prosperity reaches every household.

"The Bastar edition of the Investor Connect is poised to be a pivotal milestone in realising the region's full potential, as a beacon of sustainable and inclusive development in Chhattisgarh, deeply rooted in the region's social and cultural fabric, while ensuring that opportunities and benefits flow directly to the people," the chief minister said.

The upcoming event in Bastar underscores the government's commitment to balanced regional growth under the Chhattisgarh Industrial Development Policy 2024-30, designed to generate employment, promote entrepreneurship, and empower local communities, while respecting and preserving Bastar's rich tribal heritage and cultural identity, the release said.

The new Industrial policy offers a wide range of investor-friendly benefits. It provides customised incentives for projects above Rs 1,000 crore or those creating more than 1,000 jobs, and lays special emphasis on priority sectors including pharmaceuticals, agro and food processing, textiles, IT and digital technologies, advanced electronics, aerospace and defence, and global capability centres.

Tourism has been accorded industry status with subsidies of up to 45 per cent in Bastar, covering hotels, eco-tourism, wellness centres, adventure sports, and sports facilities, it said.

To promote inclusion, the policy also provides an additional 10 per cent subsidy for SC/ST entrepreneurs and another 10 per cent subsidy for families and individuals affected by Naxalism.

In a pioneering step, new establishments that hire surrendered Naxals will be entitled to a 40 per cent salary subsidy for five years, up to Rs 5 lakh annually. Further, steel-sector units in Bastar will receive royalty reimbursement for up to 15 years, boosting investor confidence and long-term growth in the region, the government stated. PTI TKP NSK