Chhattisgarh collects Rs 3.7K cr investments at B’luru event

Bengaluru: With an eye on emerging as the IT hub of central India, Chhattisgarh managed to draw investment proposals to the tune of Rs 3,700 crore during the state’s Karnataka edition of its Investors Connect Meet held in Bengaluru on Wednesday.

Several major tech companies from Bengaluru have expressed interest in expanding their business in Chhattisgarh, according to a statement put out by the Chhattisgarh government.

Other sectors that presented investment proposals were engineering, textiles, electronics, IT-enabled services (ITeS), food processing, and green fuel.

Amongst the major proposals made, one was from GPSR Arya Private Limited, which invested Rs 1,350 crore in the compressed biogas (CBG) green fuel sector. Keynes Technology made a promise of Rs 1,000 crore in IT/ITeS.

Klene Paks also committed Rs 500 crore in the textile industry, aiming to boost the state’s manufacturing capacity and create employment opportunities. Britannia pitched Rs 200 crore in the food processing sector, while BEML proposed Rs 200 crore for a mining equipment plant. Gokaldas Exports and SRV Knit Tech Private Limited will invest Rs 100 crore each in the textile industry.

The Chhattisgarh government also signed Memorandums of Understanding (MoU) with Nasscom, India Electronics and Semiconductor Association (IESA) and TiE Bangalore to boost the state's development and generate employment opportunities. The agreements signed also aim to explore possibilities in the IT, startup, and semiconductor industries in the state.

The government stated its strong focus on the skill development sector as well, and aligning its workforce with industry needs.

Chief Minister Vishnu Deo Sai emphasised on the state’s digitisation initiatives under their promotion of ease of doing business, and the incentives under its new industrial policy.

The government officials particularly stressed on its incentives for emerging sectors such as AI, robotics, computing, and green hydrogen, as well as promoting investments in electrical and electronics, pharma, textiles, and food and agro processing.

Chhattisgarh aims to attract investments worth Rs 2.5 lakh crore over the next five years and generate employment for 5 lakh people, said Chhattisgarh Commerce and Industry Minister Lakhan Lal Dewangan at the event.