UP to expedite implementation of new industrial policy | SupportBiz

In Brief

UP to expedite implementation of new industrial policy

The Uttar Pradesh government has directed various departments to expedite the implementation of the new industrial policy.

The Infrastructure and Industrial Investment Promotion Policy 2012 was announced earlier this month.

"Proper implementation of provisions in the policy is a must for achieving the objective of the policy to make Uttar Pradesh the preferred destination for investment resulting in economic growth and employment generation," Chief Secretary Jawed Usmani told a meeting of senior officials Thursday.

"The new policy has the potential of being a 'game-changer' for the state and has elicited tremendous response from industrial associations and business houses from within the country and abroad," said Infrastructure and Industrial Development Commissioner (IIDC) Anil K. Gupta.

According to officials, total 64 government orders, notifications or amendments in rules and regulations or acts are to be issued by 26 departments in a month's time.

The list of departments mainly includes commercial tax, stamp and registration, small industries, tourism, labour, irrigation and ground water, energy, home, vocational training, technical education, agriculture marketing, infrastructure and industrial development, transport, hand-loom and power-loom, food processing, information technology, sugar and revenue, among others.

The state cabinet had granted its approval to the draft policy earlier this month.

The new policy includes a range of facilities and incentives to encourage infrastructure and industrial development.

To ensure regional balance, attractive incentives have been provided in central and eastern parts of the state and in Bundelkhand in Madhya Pradesh.

The policy aims to attain the target of 11.2 per cent industrial growth in Uttar Pradesh and to achieve this along with financial subsidies and exemptions, strategy for improving industrial environment and infrastructure, capacity and skill development provisions have been included.