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Chhattisgarh Presentation and Economy Growth Report | IBEF

Last updated on Sep, 1 2021

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Chhattisgarh is in the central part of India. The state shares its border with Madhya Pradesh and Maharashtra in the west, Uttar Pradesh in the north, Odisha and Jharkhand in the east, and Andhra Pradesh, Telangana in the south.

At current prices, Gross State Domestic Product (GSDP) of Chhattisgarh is estimated at Rs. 3.62 trillion (US$ 51.39 billion) in 2020-21. GSDP (in Rs.) of the state at current prices will grow at a CAGR of 9.97% between 2015-16 and 2020-21.

It is among the richest Indian states in terms of mineral wealth, with 28 varieties of major minerals, including diamonds. Chhattisgarh ranked third in terms of value of mineral production (excluding atomic, fuel and minor minerals) in India, with a 14.8% share in 2019-20.

Total mineral production in the state during 2019-20 was Rs. 11,125 crore (US$ 1.53 billion). Moreover, considerable reserves of bauxite, limestone and quartzite are available in the state. Chhattisgarh is the only state in India that produces tin concentrates. The state accounted for ~35.4% of tin ore reserves of India. In 2019-20, tin concentrate production in the state stood at 15,546 kgs.

Chhattisgarh's combined export of aluminium and products, iron ore, and iron and steel products reached US$ 1,037.19 million in FY21. Non-basmati rice, iron & steel and aluminium products are the main exports, contributing ~20.46%, ~14.92% and ~13.93%, respectively, to the state’s merchandise exports.

Natural resources, policy incentives and infrastructure in the state support investment in iron and steel, cement, and power sectors. Korba district in Chhattisgarh is known as the power capital of India. Moreover, considerable reserves of bauxite, limestone and quartzite are available in the state, making it the ideal location for low-cost production of end products such as cement and aluminium.

As of April 2021, Chhattisgarh had a total installed power-generation capacity of 13,076.27 MW, comprising 8,229.83 MW under private utilities, 1,971.05 MW (state utilities) and 2,875.39 MW (central utilities). Energy requirement in the state was 27,303 million units in 2019-20.

Chhattisgarh is making significant investment in industrial infrastructure. Chhattisgarh State Industrial Development Corporation (CSIDC) has set up industrial growth centres, seven industrial parks and three integrated infrastructure development centres (IIDC). The state has a notified special economic zone (SEZ) in Rajnandgaon District. As of February 2020, the state had two formally approved SEZs.

Total merchandise exports from Chhattisgarh is estimated at US$ 1,278.69 million in FY20 and US$ 2,320.29 million in FY21.

Below are some of the major initiatives taken by the Government to promote Chhattisgarh as an investment destination:

  • In February 2021, the Chhattisgarh government signed a memorandum of understanding (MoU) with ICICI Bank for digitalisation data and information up to village panchayat level across the state. The bank will collect, digitise and provide information about village panchayats, rural families and their income, impact of government schemes in improving their lives.
  • In May 2021, the state government announced an input subsidy of Rs. 10,000 (US$ 137.88) per acre, under Rajiv Gandhi Kisan Nyay Yojana, to farmers for the cultivation of crops other than paddy, from Kharif year, FY22.
  • In February 2021, the Indian government, the Chhattisgarh state government and the World Bank signed a US$ 100 million project to develop sustainable production systems that allow tribal households in remote areas of Chhattisgarh to practice production of diversified and nutritious food throughout the year. Chhattisgarh Inclusive Rural and Accelerated Agriculture Growth project (CHIRAAG) will be implemented in the southern tribal-majority region where a large population is undernourished and poor. The project will benefit >180,000 households from ~1,000 villages in eight districts of Chhattisgarh.
  • Following completion of the 30-kms Korichhapar-Dharamjaigarh section by IRCON International in January 2021, the complete section of 74 kms between Kharsia and Dharamjaigarh is functional
    • Commencement of this section has made way in evacuating coal from the North Chhattisgarh area
    • Goods train can reach up to Durgapur, and the Baroud and Chhaal mines of Southeastern Coalfields
  • The state has allocated Rs. 4,688 crore (US$ 670.77 million) for roads and bridges under State Budget 2020-21.
  • Under 2020-21 State Budget, the State Government has allocated Rs. 5,144 crore (US$ 736.01 million) towards school education and Rs. 779 crore (US$ 111.46 million) towards higher education.
  • The state has allocated Rs. 396 crore (US$ 54.89 million) for the development of three smart cities—Raipur, Naya Raipur and Bilaspur—under the State Budget 2020-21.
  • During 2019, 61 IEMs were filed in Chhattisgarh with a proposed investment of Rs. 5,132 crore (US$ 734.30 million).
  • In May 2019, Swami Vivekananda Airport of Raipur bagged fifth position in the country for Airport Service Quality (ASQ) survey.
  • In December 2019, Airports Authority of India (AAI) recommended to privatise Raipur airport.
Chhattisgarh State Presentation

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