A leading Korean newspaper has recently lauded Chhattisgarh’s strong presence at the Investor Connect event held in Seoul, where the state extended an open invitation to Korean companies to explore its new industrial opportunities. The event, co-hosted by the Indian Embassy in Seoul and the Indian Chamber of Commerce in Korea, witnessed Chhattisgarh’s growing influence as a future-ready investment hub.
New Industrial Policy 2024: Gateway for Global Investors
Chhattisgarh’s New Industrial Policy, launched in 2024, aims to create smart industrial corridors and modern estates, designed to improve logistics, enhance connectivity, and support advanced technology-driven businesses. The policy is geared toward positioning the state as a competitive destination for both domestic and international investors.
Mr. Ramesh Iyer, Chair of the Indian Chamber of Commerce in Korea, emphasized that Chhattisgarh offers a “stable, welcoming, and future-forward business environment,” while highlighting ongoing projects such as a 200-acre vehicle city and a semiconductor hub in Raipur.
Chief Minister Showcases State’s Strengths
Chief Minister Mr. Vishnu Deo Sai, leading Chhattisgarh’s first-ever business delegation to Korea, underlined the state’s strength as a major steel producer with abundant mineral reserves essential for the automobile and electronics sectors. He stated that Korean companies, given their global presence in Indian households through brands like LG, Samsung, and Hyundai, would find Chhattisgarh an excellent destination for expanding their investments.
Strong Bilateral Ties and Central Support
Indian Ambassador to Korea Mr. Amit Kumar highlighted the strengthening India-Korea ties under the President Mr. Lee Jae Myung administration. He also stressed the role of Indian states in industrial policy implementation, noting that industry contributes 48 percent to Chhattisgarh’s GDP, with metals accounting for 60 percent of steel production. He called for a diversified industrial base in the state to broaden opportunities.
Strategic Advantages for Investors
According to Mr. Rajat Kumar, Secretary of the Chhattisgarh government, the state is mineral-rich, power-surplus, and home to over 100,000 MSMEs, 60 industrial parks, and advanced clusters in AI, semiconductors, and green energy. Nava Raipur, developed as a smart city hub, offers world-class connectivity. He highlighted that land is allotted within 45 days and projects begin in 95 days, supported by sector-specific incentives such as 187 percent reimbursement in pharma, 76 percent in electronics, and 62 percent in steel downstream industries.
Vision for 2047 and Korea as a Model
Chief Secretary Mr. Amitabh Jain stated that South Korea serves as an inspirational model for India’s vision of becoming a developed nation by 2047. He stressed the importance of learning from Korea’s rapid development trajectory post-World War II.
The event drew participation from embassy officials, business associations, Korean companies, members of the chamber, media, and Chhattisgarh’s delegation, further strengthening the state’s international economic engagement.
