New Delhi, Dec 13 (IANS): Chhattisgarh Chief Minister Vishnu Deo Sai on Friday highlighted his government’s industrial policy initiatives which are poised to play a crucial role in driving India's overall growth.

He emphasised that the state's new industrial policy is a key step towards establishing Chhattisgarh as an industrial hub, with a focus on fostering regional economic development, creating jobs, and modernising infrastructure, a statement said.

The policy is particularly aimed at accelerating growth in tribal and backward areas, ensuring that the benefits of development are widely distributed and contribute to the nation's broader economic progress.

Underlining the key feature of the new policy, the chief minister said that the industrial policy emphasises employment generation, particularly in the tribal regions, with a focus on creating 5 lakh new jobs over the next five years.

The inclusion of tourism in the industrial policy will not only provide a significant income boost to people residing in these areas but will also create numerous job opportunities, the chief minister said while speaking at the 10th Edition of the India Economic Conclave held at Bharat Mandapam in New Delhi.

Elaborating further, he informed that the new industrial policy also includes significant rehabilitation incentives aimed at industries that employ surrendered Naxals, offering up to 40 per cent reimbursement of their net salary, with a subsidy cap of Rs 5 lakh per annum for five years.

This initiative is part of a broader effort to promote development in Bastar, where small, medium, and micro industries stand to benefit from a range of support measures. These include capital investment grants of up to 45 per cent on investments between Rs 45 lakh and Rs 8 crore, as well as SGST reimbursement of up to 150 per cent for the next decade, creating a conducive environment for local economic growth and social integration.

Chhattisgarh Secretary, Industry Department, Rajat Kumar and Director Industries Prabhat Mallik gave presentations on Naya Raipur and New industrial policy at the conclave.

Talking about investment incentives and MSME Support, the state government claimed it is also offering a wide range of incentives to encourage investments.

These include exemptions on stamp duty and electricity duty, alongside 10 other types of investment incentives. A new 118-acre industrial area is being established for ancillary units of the Nagarnar Steel Plant in Bastar, designed to support micro, small, and medium industries. The introduction of Single Window System 2.0 will further streamline the clearance process for investors by consolidating approvals from various departments in one place.