Chhattisgarh Poised to Become a New Hub for Investment in Defense, Aerospace, and Space Technology

Chhattisgarh is evolving beyond its image as a primarily mineral and agricultural state, now advancing towards becoming a new center for technological innovation and strategic industries. Under the leadership of Chief Minister Vishnu Dev Sai, the state has not only modernized its industrial policies, making them employment-oriented, but has also taken historic steps to attract investment in strategic sectors such as defense, aerospace, and space technology. A separate industrial incentive package for these advanced technology sectors was recently announced during a cabinet meeting chaired by the Chief Minister. This package aims to attract investment and create new avenues for employment for the state’s youth. The special package, formulated under the Chhattisgarh Industrial Development Policy 2024-30, offers significant incentives, including SGST reimbursement, capital grants, subsidies based on investment size, interest subsidies, electricity duty exemptions, and various other benefits to investors. A key focus of the policy is on generating sustainable employment opportunities for local youth, with provisions for grants based on the wages paid to first-time employees. Moreover, provisions for research and development in the defense and aerospace sectors, capital investment grants for Centers of Excellence, and special assistance for drone training centers will further establish the state as technologically self-reliant and advanced. Additional industrial incentives will be provided to units investing over 1000 crore rupees or employing more than 1000 people, thus encouraging large companies to invest in the state. The aim is to foster a comprehensive ecosystem of employment, technical education, research, and innovation in Chhattisgarh, enabling the youth not only to seek jobs but also to become job creators. This industrial policy aligns with national initiatives like ‘Make in India’ and ‘Atmanirbhar Bharat,’ signaling a significant move for the state to establish a new identity. Chhattisgarh is transitioning from traditional industries to becoming a destination for investment in high-tech sectors like defense and aerospace, which will boost the state’s economic prosperity and open up new avenues for the youth.