“,”elements”:[]}],”thumb_big”:”https://etimg.etb2bimg.com/thumb/msid-116674541,imgsize-497372,width-1200,height=765,overlay-etauto/industry/new-policy-helps-chhattisgarh-diversify-attract-investments.jpg”,”thumb_small”:”https://etimg.etb2bimg.com/thumb/img-size-497372/116674541.cms?width=150&height=112″,”time”:”2024-12-26 12:20:21″,”is_live”:false,”prime_id”:0,”highlights”:[],”highlights_html”:””,”also_read_available”:false,”body”:”
TWI Group has proposed to invest in an EV manufacturing plant, logistics park and a bamboo hub.“>
Within a month of introduction of a new industrial policy, mineral-rich Chhattisgarh has attracted investment proposals worth Rs 15,184 crore with listed companies promising to set up semiconductor chip manufacturing facility, bamboo park, food processing hub and electric vehicle manufacturing plant.
With the new policy, the newly-formed BJP government in Chhattisgarh has tried to change focus from the core areas of iron ore and steel to diversify into different sectors including semiconductors, green hydrogen and electric vehicles. The mineral-rich state has identified six key sectors for industrial growth pharmaceuticals, textiles, food processing, agricultural product preservation, non-timber forest products processing, electronics.
This shift in focus seems to have paid off as investment proposals are pouring in. For starters, Polymatech Electronics will be setting up a semiconductor chip manufacturing facility in Naya Raipur with an investment of INR 1,134 crore. Eswara Rao Nandam, CEO & MD of Polymatech Electronics, said, “Chhattisgarh government’s unwavering commitment to providing uninterrupted power supply has been instrumental in Polymatech’s decision to establish our second Indian facility here.”
Teleperformance, a listed company, will open a back office centre with an initial investment of INR 600 cr. Varun Beverages has proposed an investment of INR 250 crore in setting up Pepsico bottling plant. TWI Group has proposed to invest in an EV manufacturing plant, logistics park and a bamboo hub.
Speaking to ET, Chhattisgarh investment commissioner Ritu Sain said, “The state wants to diversify and tap into the potential of different sectors. We have identified six new priority sectors in the new industrial policy and are exploring the potential of sectors like tourism and food processing.” Chhattisgarh houses India’s largest integrated steel plant at Bhillai and the economy of the mineral-rich state has been driven by steel and iron ore. Sain said, “We already have an investment of INR 2.8 lakh crore in place mostly in steel and iron ore. But the attempt is now for wholistic investment in different sectors.”
“,”next_sibling”:[{“msid”:116674004,”title”:”Steelmakers may cut down on capex amid price slump”,”entity_type”:”ARTICLE”,”link”:”/news/industry/steelmakers-may-cut-down-on-capex-amid-price-slump/116674004″,”link_next_mobile”:”/news/industry/steelmakers-may-cut-down-on-capex-amid-price-slump/116674004?next=1″,”category_name”:null,”category_name_seo”:”industry”}],”related_content”:[],”seoschemas”:false,”social_share”:{“fb”:”/news/industry/new-policy-helps-chhattisgarh-diversify-attract-investments/116674541?utm_source=facebook&utm_medium={{DEVICE_TYPE}}”,”x”:”/news/industry/new-policy-helps-chhattisgarh-diversify-attract-investments/116674541?utm_source=twitter&utm_medium={{DEVICE_TYPE}}”,”whatsapp”:”/news/industry/new-policy-helps-chhattisgarh-diversify-attract-investments/116674541?utm_source=wapp&utm_medium={{DEVICE_TYPE}}”,”linkdin”:”/news/industry/new-policy-helps-chhattisgarh-diversify-attract-investments/116674541?utm_source=linkedin&utm_medium={{DEVICE_TYPE}}”,”telegram”:”/news/industry/new-policy-helps-chhattisgarh-diversify-attract-investments/116674541?utm_source=telegram&utm_medium={{DEVICE_TYPE}}”,”copy”:”/news/industry/new-policy-helps-chhattisgarh-diversify-attract-investments/116674541?utm_source=copy&utm_medium={{DEVICE_TYPE}}”},”cat_msid”:25384693,”cat_sub_msid”:false,”msid”:116674541,”entity_type”:”ARTICLE”,”title”:”New policy helps Chhattisgarh diversify, attract investments”,”synopsis”:”Within a month of its new industrial policy, Chhattisgarh has attracted investment proposals worth INR 15,184 crore, with prominent companies planning to set up semiconductor chip manufacturing, bamboo park, food processing hub, and EV manufacturing plant, indicating a successful diversification beyond steel and iron ore.”,”titleseo”:”industry/new-policy-helps-chhattisgarh-diversify-attract-investments”,”status”:”ACTIVE”,”authors”:[{“author_name”:”Nidhi Sharma”,”author_link”:”/author/10299/nidhi-sharma”,”author_api_link”:”/author/10299″,”author_image”:”https://etimg.etb2bimg.com/authorthumb/10299.cms?width=250&height=250&imgsize=1450407″,”author_additional”:{“thumbsize”:true,”msid”:10299,”author_name”:”Nidhi Sharma”,”author_seo_name”:”nidhi-sharma”,”designation”:”Senior Assistant Editor”,”agency”:false}}],”Alttitle”:{“minfo”:””},”artag”:”ET Bureau”,”artdate”:”2024-12-26 12:20:21″,”lastupd”:”2024-12-26 12:21:46″,”breadcrumbTags”:[“Chhattisgarh investment”,”Logistics”,”Supply”,”industrial policy Chhattisgarh”,”semiconductor manufacturing India”,”Chhattisgarh economy diversification”,”food processing hub India”,”bamboo park investment”,”polymatech electronics”,”Teleperformance”,”varun beverages”],”secinfo”:{“seolocation”:”industry/new-policy-helps-chhattisgarh-diversify-attract-investments”}}” data-authors=”[” nidhi data-author-list=”Nidhi Sharma” data-category-name=”Industry” data-category_id=”23″ data-cat_msid=”25384693″ data-date=”2024-12-26″ data-index=”article_1″ data-keywords=”Chhattisgarh investment, Logistics, Supply, industrial policy Chhattisgarh, semiconductor manufacturing India, Chhattisgarh economy diversification, food processing hub India, bamboo park investment, polymatech electronics, Teleperformance, varun beverages” data-type=”news”>
Within a month of its new industrial policy, Chhattisgarh has attracted investment proposals worth INR 15,184 crore, with prominent companies planning to set up semiconductor chip manufacturing, bamboo park, food processing hub, and EV manufacturing plant, indicating a successful diversification beyond steel and iron ore.
TWI Group has proposed to invest in an EV manufacturing plant, logistics park and a bamboo hub.“>
Within a month of introduction of a new industrial policy, mineral-rich Chhattisgarh has attracted investment proposals worth Rs 15,184 crore with listed companies promising to set up semiconductor chip manufacturing facility, bamboo park, food processing hub and electric vehicle manufacturing plant.With the new policy, the newly-formed BJP government in Chhattisgarh has tried to change focus from the core areas of iron ore and steel to diversify into different sectors including semiconductors, green hydrogen and electric vehicles. The mineral-rich state has identified six key sectors for industrial growth pharmaceuticals, textiles, food processing, agricultural product preservation, non-timber forest products processing, electronics. This shift in focus seems to have paid off as investment proposals are pouring in. For starters, Polymatech Electronics will be setting up a semiconductor chip manufacturing facility in Naya Raipur with an investment of INR 1,134 crore. Eswara Rao Nandam, CEO & MD of Polymatech Electronics, said, “Chhattisgarh government’s unwavering commitment to providing uninterrupted power supply has been instrumental in Polymatech’s decision to establish our second Indian facility here.”Teleperformance, a listed company, will open a back office centre with an initial investment of INR 600 cr. Varun Beverages has proposed an investment of INR 250 crore in setting up Pepsico bottling plant. TWI Group has proposed to invest in an EV manufacturing plant, logistics park and a bamboo hub. Speaking to ET, Chhattisgarh investment commissioner Ritu Sain said, “The state wants to diversify and tap into the potential of different sectors. We have identified six new priority sectors in the new industrial policy and are exploring the potential of sectors like tourism and food processing.” Chhattisgarh houses India’s largest integrated steel plant at Bhillai and the economy of the mineral-rich state has been driven by steel and iron ore. Sain said, “We already have an investment of INR 2.8 lakh crore in place mostly in steel and iron ore. But the attempt is now for wholistic investment in different sectors.”
Join the community of 2M+ industry professionals
Subscribe to our newsletter to get latest insights & analysis.
