The Government of Chhattisgarh on Thursday made a passionate appeal, calling upon potential investors to opt for parking their surpluses in the state, for it provides for the best of investment environment in which the rate of returns on investments are handsomely rewarded with virtually no political and bureaucratic hurdles.
It disclosed that because of such facilities and benefits, the state has already geared up to sign a host of additional Memoranda of Understanding (MoU) for realizing investment potential of Rs.25,000 crores in next week or so in the area of infrastructure such as power, railways, roads and the like.
Addressing An Evening for Business Linkage with Chhattisgarh – Investment Opportunities in the Food Processing Industry under aegis of PHD Chamber of Commerce and Industry here today, Minister, Commerce and Industries and Public Enterprises, Commercial Taxes, Urban Administration and Development, Government of Chhattisgarh Mr. Amar Agrawal said, “the state has offered land on demand for industry in each of state’s 27 district as it has already created a land bank of close to 7,200 hectares and that land acquisition is not at all an issue for project execution in the state”.
Speaking on the occasion, the Secretary to Chief Minister, Commerce and Industries and Mining, Government of Chhattisgarh Mr. Subodh Kumar Singh said though State has already signed host of MoUs in the past, cornering several thousands of crores projects in the field of coal mines, aluminum and other minerals including bauxites, railways, steel, cement and iron ore.
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 crores of investment is expected to come in the State.
According to Mr. Agrawal, the state has already begun to prepare for Goods and Services Tax (GST) as it feels that this consumption led tax would benefit the whole country and compensate adequately states like Chhattisgarh which would likely to loose at its earlier stages of implementation.
Chairman, Chhattisgarh State Industrial Development Corporation Ltd., Mr. Chhagan Lal Mundhra in his observations endorsed what Mr. Agarwal said about Chhattisgarh though added that in the last 15 years after the state was carved out of Madhya Pradesh made substantial progress and it is committed to go farther to emerge as one of the best investment destinations in the country.
Director, Directorate of Industries, Government of Chhattisgarh Mr. Kartikeya Goel made a detailed presentation about 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 its backward states.
The Conference was presided over by the President of PHD Chamber Mr. Alok B. Shriram in which its Sr. Vice President and Vice President Mr. Mahesh Gupta and Mr. Gopal Jiwarajka were also present. The Chairman, Agribusiness Committee of the Chamber Mr. N M Kejriwal and Chairman, Chhattisgarh State Committee, PHD Chamber Mr. Veenu Jain also welcomed the officials of Chhattisgarh government.