Mumbai, April 24 (IANS) Chhattisgarh Commerce and Industries Minister Lakhan Lal Dewangan on Thursday emphasised his state’s central role in achieving Prime Minister Narendra Modi's target of 300 million tonnes of steel production by 2030.

Participating in the 'India Steel 2025' conference here, Dewangan said the state has formulated a new industrial policy focused heavily on core sectors such as steel.

The Minister reiterated the state government’s commitment to the development of the steel industry and invited industrialists to participate in the state's growth.

Dewangan stated that Chhattisgarh is the Steel Capital of India and highlighted that the state holds 18 per cent of the country’s iron ore reserves.

"The iron ore extracted from Bailadila mines is considered among the best in the world in terms of quality," he said, highlighting that the state is a pioneer in adopting green technologies.

The conference is being held from April 24 to 26 at the Bombay Exhibition Centre (NESCO), Mumbai, under the joint aegis of the Ministry of Steel, government of India, and the Federation of Indian Chambers of Commerce and Industry (FICCI).

Prime Minister Narendra Modi also addressed the conference via video conferencing. Union Minister of State for Steel and Heavy Industries Bhupathi Raju Srinivasa Varma, was also present during the event.

Sharing features of the state's new industrial policy, the Chhattisgarh Minister said: “Under this policy, sponge iron and steel units are being offered incentives and concessions of up to 15 per cent. The steel sector is benefiting the most from the single-window system, ease of doing business, and speed of business.”

He said to promote MSMEs near the Nagarnar Steel Plant in Bastar, a new industrial area is being developed over 118 acres.

Dewangan said that investment summits have been organised in Delhi, Mumbai, Bengaluru, and Raipur, resulting in investment proposals worth over Rs 4.5 lakh crore.

The implementation of these proposals is progressing at a rapid pace. The recent foundation-stone laying ceremony of a semiconductor plant is a prime example of this progress, he said.

The Minister that under the new industrial policy, Chhattisgarh has emerged among the top 10states in terms of attracting the highest investments.

The conference also saw the participation of several senior officials from Chhattisgarh, including Chief Secretary Amitabh Jain, Principal Secretary to Chief Minister Subodh Singh, Secretary of the Industry Department Rajat Kumar, Director Prabhat Malik, and Managing Director of CSIDC Abhishek Agrawal.

Dewangan also held direct dialogue with investors and industrialists during a roundtable meeting. The discussion focused on the investment potential in Chhattisgarh, covering topics such as industrial clusters, logistical support, the single-window clearance system, favourable workforce and policies.