5 Initiatives For Investors By Chhattisgarh CM Bhupesh Baghel
Investgarh Chhattisgarh: Chhattisgarh CM Bhupesh Baghel’s 5 Initiatives For Investors
*This is in partnership with BloombergQuint Brand Studio
While state governments all hold investor summits and provide incentives for setting up industries and businesses the real test lies in the actual investment received by any state. Chhattisgarh has remained in the top ten list in India. In recent years, Chhattisgarh has taken considerable strides in upscaling its infrastructure and amending policies. With a push for creating world-class infrastructure suitable for various industries, ensuring surplus energy generation, achieving a higher literacy rate of (over 70%) and a similarly high percentage of skilled labour present in the State, the primary conditions are set, along with the investor-friendly policies of Bhupesh Bagel government to benefit the people of the state. Here are five significant initiatives taken by the Bhupesh Baghel government that investors appreciate.
1. Safe business environment
A safe and conducive environment is necessary for any significant investment or new business anywhere in the world. As for Chhattisgarh, gone are the days when newspaper headlines were dominated by leftist violence. And this is all due to the state government’s sustained efforts towards inclusivity in economic progress. The new capital city Nava Raipur is also a greenfield smart city. It is not only one of the best cities suitable for industries and businesses but also with excellent state-of-the-art security systems. Some say it is the safest city in the country. Various crime rate indexes released by agencies show that the city fares the lowest when it comes to crime numbers.
Equipped with modern surveillance systems that match the best of the world, Nava Raipur is further upping the standard of safety by the day. The same can be said for other major cities like Jagdalpur, Bilaspur, Bhatari and Mahasumund.
The last three years of the Bhupesh Bagel government has seen steady progress in the economic sphere in urban and rural areas. With the unemployment rate as low as 3%, the state’s people are indeed much happier than in past years. In terms of a safe working and living environment, this culturally vibrant state offers investors one of the most peaceful atmospheres to do business in.
2. Ease of doing business
Among all Indian states, Chhattisgarh has remained sixth in ease of doing business since 2018. Retaining this position is a significant achievement because pandemic disruption was expected to have a far adverse effect on businesses in Chhattisgarh. But swift action and deft management by the state government has minimised the negative impact of the pandemic.
Investors also appreciate efforts to bring investment opportunities in Chhattisgarh under one roof. This is because nothing scares investors more than the hassle of multiple permissions across various departments. While digitisation is being done in all spheres of regulatory and compliance, the number of compliances has also been reduced. For instance, only one register is to be maintained for non-hazardous industries as compared to 65 before. With the advent of the Industrial Policy 2019-24, the Bhupesh Baghel government wishes to showcase its new business-friendly ecosystem. The government is leaving no stone unturned in convincing investors of the state's solid infrastructural development, business-friendly environment, bespoke policies, inclusive development plans, social relationships, social norms and civic participation.
3. Infrastructure push
Chhattisgarh is making significant investments in infrastructure, and these are becoming growth drivers for industry. From dry ports to multi-modal logistics parks and more, these facilities are of international standards.
The greenfield smart city is also a significant growth driver with an area of 8000 hectares. Nava Raipur’s Electronics Manufacturing Clusters are other growth drivers.
The government is working on establishing 200 food parks in the state. Among these, 146 blocks will provide a mechanism to link agricultural production to the market. Along with farmers, this would benefit various businesses that are into processing and retail.
These various infrastructure projects of the Bhupesh Baghel government have put Chhattisgarh on the map of top states with ready-to-use industrial infrastructure that suits multiple vital sectors.
4. Policy initiatives by the government
The investor-friendly environment has been achieved by many new policy initiatives. For example, setting up of high-level enabling institutions like the State Investment Promotion Board (SIPB), Chhattisgarh State Industrial Development Corporation (CSIDC), Chhattisgarh Infotech Promotion Society (CHiPS) and Nava Raipur Development Authority (NRDA) has made various interactions between businesses and the regulatory authority far simpler. Online procedures for issuing all types of sanctions, approvals, etc. are being implemented, including electricity connections.
All state levies and taxes can now be managed online. The introduction of e-registration in place of manual registration is another step towards digitalization that was unavailable earlier.
5. Incentives and encouragement to industries
To facilitate of clearances and approvals with a definite timeline, single-window clearance has helped considerably. This facility has reduced the time taken for many decisions and the number of interactions between businesses and regulatory authorities. The state government has also set up a dedicated platform for grievance addressal. The state has also established an auction mechanism for non-coal mining lease, gold mines and minor minerals. Logistics support is one more front in which Chhattisgarh is a pioneer in the country. Development of a portal to track mineral transport is also underway. The Bhupesh Baghel government has put a digital revolution in action, thus helping create a better business environment.
Chhattisgarh is ideal for high power-consuming industries as a power surplus state. The electricity tariff in Chhattisgarh is significantly lower than the national average. Attractive power tariff slabs will help focus on IT/ ITeS, electronics and heavy manufacturing industries.
The result is clear to see. Under Chief Minister Bhupesh Bagel's leadership industrial policy changes have been consistent and in the last few years the state government has signed 104 MoUs for setting up industries. Proposed capital investment for these projects exceeds ₹42,000 crore. This is a sure sign of investors' faith in the state leadership.