Chhattisgarh Eyes a Future in Defense, Aerospace, and Space Tech with New Investment Push

Chhattisgarh is transforming from a state known for minerals and agriculture to a rising hub for technological innovation and strategic industries. Chief Minister Vishnu Dev Sai is at the helm of this transformation, modernizing industrial policies and attracting investment in strategic sectors such as defense, aerospace, and space technology. A dedicated industrial incentive package has been announced for these advanced technology sectors, designed to attract investment and generate employment opportunities for the state’s youth. The package, part of the Chhattisgarh Industrial Development Policy 2024-30, encourages the establishment and expansion of cutting-edge industries. Enterprises in defense, aerospace, and space technology will be eligible for incentives based on their capital investment. This includes 100% SGST reimbursement or capital grants, subsidies for investments ranging from 50 crore to over 500 crore rupees, interest subsidies, electricity duty exemptions, and more. The policy emphasizes creating sustainable employment for local residents. Grants, up to 20% of the salary, will be given to industries employing Chhattisgarh natives for the first time. The state is also supporting research and development in defense and aerospace with grants, capital investment for Centers of Excellence, and special assistance for drone training centers. Units investing over 1000 crore rupees or employing over 1000 people will receive additional incentives. This industrial policy aims to create a comprehensive ecosystem focused on job creation, technical education, research, and innovation. The goal is to transform Chhattisgarh’s youth into job creators, aligning with national initiatives like ‘Make in India’ and ‘Atmanirbhar Bharat.’ Chhattisgarh is poised to move beyond its traditional industries and establish itself as a hub for high-tech investments, boosting economic growth and creating opportunities for its youth.