Business News | Chhattisgarh Offers Incentives Up to 200% of Investment to Boost Textile, Garment Manufacturing
Get latest articles and stories on Business at LatestLY. According to a press release by the Chhattisgarh Govt, "The Chhattisgarh government is offering incentives of up to 200% of Fixed Capital Investment (FCI) to attract investments in textile and garment manufacturing as it looks to diversify beyond its mineral-based economy." "The focus has been to reduce friction for investors by combining infrastructure readiness with a comprehensive incentive framework," said Rajat Kumar, Secretary, Department of Commerce & Industries, Government of Chhattisgarh.
New Delhi [India], March 26 (ANI): The Chhattisgarh government is offering incentives of up to 200% of Fixed Capital Investment (FCI) to attract investments in textile and garment manufacturing as it looks to diversify beyond its mineral-based economy
A garment manufacturing unit worth Rs 100 crore in Chhattisgarh may qualify for incentives of up to Rs 200 crore under the state's Industrial Development Policy 2024-30, depending on the scale of the project, employment generation, and fulfilment of eligibility criteria.
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"The focus has been to reduce friction for investors by combining infrastructure readiness with a comprehensive incentive framework," said Rajat Kumar, Secretary, Department of Commerce & Industries, Government of Chhattisgarh.
He further added, "Our textile parks in Nava Raipur are designed to enable quick scale-up and efficient operations from day one."
The state is expanding into textile and garment manufacturing with plug-and-play infrastructure in Nava Raipur, India's first greenfield smart city of the 21st century.
The parks offer plots ranging from 0.3 to 10 acres and are equipped with reliable power and water supply, common effluent treatment facilities and integrated waste management systems. They are designed for 24x7 operations, including night shifts for women workers, and include worker housing within the industrial ecosystem.
Located along the Mumbai-Howrah railway corridor and about 500 kilometres from Visakhapatnam Port, the parks provide connectivity to domestic and export markets. Raipur Airport connects the state to major Indian cities within 90-120 minutes.
The policy also provides employment-linked support of Rs 6,000 per month for women workers and Rs 5,000 per month for male workers for five years. It includes a training subsidy of up to Rs 15,000 per employee, along with capital subsidy support, 100 per cent electricity duty exemption for 12 years and freight assistance.
Chhattisgarh produces over 200 metric tonnes of Tussar silk annually, with Champa silk holding a Geographical Indication (GI) tag. The state has also enacted the Right to Skill Act to strengthen industry-ready manpower.
Companies such as Swift Merchandise and Punit Creation are expected to generate over 10,000 direct and indirect jobs through proposed investments in the state. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)