4 keys to investment doors in Chhattisgarh
Chhattisgarh has the richest biodiversity habitat in India. With abundant rainfall, 50% of the geographical plains translates to 43% of cultivated land. The state’s favorable demographics and ease of connectivity are an additional asset and an important driver of growth. Chhattisgarh has been able to improve its mechanization of irrigation facilities. The Chhattisgarh Biotechnology Center of Excellence is also a major contributor.
But the main factor in improving the growth of agriculture will be government policy initiatives. A list of some of the important factors would be:
· Increasing institutional credit and increasing the minimum support price (MSP).
· Introduction of new programs like Paramparagat Krishi Vikas Yojana.
· Sansad Adarsh Gram Yojana and opening of wheat and rice exports.
· Krishi Udaan Scheme for government run commodity transportation, perishable cargo hubs, cold storage facilities at airports and inland container depots, and cargo terminals and warehouses.
Digital innovation in infrastructure development, supply chain management and technological activation of quality, traceability, logistics and distribution are considerable advantages. The state government has also sought FDI in the forestry sector. The Japan International Cooperation Agency has provided a loan of ¥12,287 million (₹750 crore) to the Sustainable Forest Management Project in India. This is expected to help a large portion of the people in the state who depend on forest products for their traditional livelihood and better preserve the forest environment. In the forestry sector, the government has notified 50 products from the list of minor forest products. Harvesters must be trained in a scientific method to collect, process and add value to these forest products.
Some other government agricultural initiatives are:
· Initiative to promote the growth of the muga silkworm. This would amplify and accentuate the growth of textile industries in the state.
· Supportive policies have been enacted to promote and encourage the agricultural start-up ecosystem in the state.
· The government plans to establish 200 food parks in 110 blocks. Of these, 146 blocks will provide a mechanism to link agricultural production to the market. One of the benefits of this initiative will be to bring together farmers, processors and retailers. It will also ensure maximum added value, minimum wastage, increased farmers’ incomes and creation of job opportunities.
Various subsidy and support programs fuel the growth of state agricultural development, such as capital subsidy and project interest subsidy, technology improvement, cold chain capital subsidy and interest subsidy.
About 80% of the state’s population is engaged in agriculture, and 43% of all arable land is cultivated. This sector is by far the most important for the State. The focus on this sector will have a greater impact on the lives of 2.55 million people.