The Hindu Business Line : Chhattisgarh to announce new industrial policy

Dr Singh told presspersons here that the proposed policy was currently being formulated and would be ready within the next three months. The policy would take a "cluster approach" and focus on mineral-based and power-intensive industries. The cluster approach would encompass the Korba and Raipur regions in particular.

He said the policy would be favourably disposed towards power-intensive and mineral-based industries, auto components and medicinal plantations. Chhattisgarh has huge reserves of coal besides being home to 26 per cent of the country's iron ore deposits.

According to Dr Singh, it is a power-surplus State and supplies power to five other States. At present, the generation hovers round 3,800 MW. Over the next five to seven years, the capacity of power generation in the State would be further augmented by 10,000 MW.

"The future in Chhattisgarh belongs to power-based industries," he said, adding that reforms in the power sector were inevitable and the process would be initiated after the forthcoming elections to the Lok Sabha. In the years ahead, diamond mining is also expected to come up in a big way in the State. Medicinal plantations and minor forest produce, too, have a "bright future" in Chhattisgarh.

Dr Singh, however, clarified that developmental initiatives could not overlook issues pertaining to conservation and bio-diversity. "Bio-diversity is our strength. Chhattisgarh is India's most bio-diverse hot-spot. "We have to maintain a fine balance between development and conservation," he said.

Stating that the services sector in the State was yet to develop to its full potential, Dr Singh said a lot of emphasis was being laid on the development of the tourism sector. "Chhattisgarh is a land which is full of surprises and we want the it to be a tourist destination of choice," he said.

At present, tourism accounts for barely 0.5 per cent of the State gross domestic product. The sector's contribution is expected to double every year from now. The State has already granted industry status to tourism and several tax incentives have been announced for investment in the sector.