The state has been recently ranked sixth among the top 10 states in the ‘Ease of Doing Business’ rankings.
Under the dynamic leadership of Chief Minister Raman Singh, Chhattisgarh has been transformed into a preferred destination for both domestic and foreign investors. According to the Chief Minister: “From starting with a meagre budget of Rs 7,328 crore in 2003-2004, we have reached an amount of Rs 83,179 crore in 2018-19.” This speaks volumes of the tremendous progress that Chhattisgarh has seen under Chief Minister Raman Singh.
The state has been famous for its rice mills, cement and steel plants. Durg, Raipur, Korba and Bilaspur are the leading districts in the field of industrial development in the state. The Bhilai Steel Plant (BSP) in Durg district happens to be the largest integrated steel plant in the country. The establishment of BSP in the 1950s led to the development of a wide range of industries at Raipur and Bhilai. Raipur district has got the rare distinction of having the largest number of big and small-scale cement plants. Bilaspur and Durg districts, too, are home to a number of large-scale cement plants. Korba, with a number of power generating units established by NTPC and MPEB, is among the leading power generation centers in the country. Aluminum and explosive plants are also located in Korba district.
There are a number of industrial growth centers in the state which host hundreds of industrial units. The principal growth centers in the state are Urla and Siltara (Raipur); Borai (Durg) and Sirgitti (Bilaspur). Chhattisgarh is presently one of the few states that is surplus power. Korba district in Chhattisgarh is known as the power capital of India. It is also among the few profitable states in terms of utility-based electricity. The gross state domestic product (GSDP) of Chhattisgarh is expected to reach Rs 3,25,644 crores in FY 2018-19 as compared to 2,77,000 crore in FY 2017-18.
Mineral resources are Chhattisgarh’s biggest strength. Chhattisgarh is a leading producer of minerals such as coal, iron ore and dolomite, accounting for about 22.57%, 22.8% and 37.48% of India’s production, respectively. Moreover, considerable reserves of bauxite, limestone and quartzite are available in the state. Chhattisgarh accounts for 35.4% of tin ore reserves of India.
A wide range of fiscal and policy incentives for businesses have been announced under the state Industrial Policy 2014-19. Additionally, Chhattisgarh has well-drafted policies for the IT/ITeS, solar energy, agro and food processing, minerals and biotechnology sectors.
Chief Minister Raman Singh has said: “The Digital Revolution is the ultimate of all social revolutions in human history.” The state government has been providing online services at the tehsil and district headquarters through the Lok Seva Kendras. The Chief Minister has said that 10,000 panchayats would go online by 2019.
The state government has started the “Single Window” and “Single Officer” concept whereby only one officer gives all permissions to set up an industry in the state.
PROMOTION OF START-UPS
If one is an entrepreneur, then Chhattisgarh is the best destination. The state government genuinely believes in nurturing entrepreneur talent.
Chief Minister Raman Singh has started the unique “36Inc”, the state’s only incubator sanctioned under the Atal Innovation Mission. The incubator has been established under the Chhattisgarh Infotech Promotion Society (CHiPS).
The Chhattisgarh government is committed to making “Start-up Chhattisgarh” a grand success in the state and would extend full support to developing an enabling ecosystem for start-ups, the Chief Minister has said.
The “36Inc” is the first business Incubator-cum-Accelerator supported by the Chhattisgarh government. It will act as a hub for a network of incubators and accelerators across the state. Any start-up which aspires to transform ideas into reality or any existing business wanting to scale up with access to ace mentoring and plethora of services, can seek assistance from “36Inc”. At the incubator, selected candidates would not only get mechanical support, but also expert manpower who know the in-and-out of machines. This will enable them to master technical skills.