Throwing open the doors to private investors in Uttar Pradesh, the Yogi Government rolled out its new region-specific and job-driven Industrial Policy. The Government also stressed its commitment to solve problems of entrepreneurs through a single window and in a time-bound manner. new policy was approved by the state cabinet in lucknow on Tuesday.
The new policy will now be called as Uttar Pradesh Industrial Investment and Employment Promotion Policy. Earlier it was termed as Industrial and Investment Policy of Uttar Pradesh.
Toeing the ‘Make in India’ line of Prime Minister Narendra Modi, teh Yogi cabinet also proposed a policy of `Make in UP’, for which a special department would be created.
Besides a State Investment Encouragement Board will also be set up which will be headed by Chief Minister.
Industry minister Satish Mahana said that the spirit of the new policy was not only to increase investment but also throw open job market for the youth. The motto of the new policy is that UP being a big consumer state and the government would provide investors a ready-made market. Wherever the investors needed help, the government would step in and to ensure that products made in the state reached across the globe, a connectivity web will be created that would have road, rail and air links.
“As Uttar Pradesh is a big state divided into different regions and all regions have own specifics, the Government has come out with area-specific investment policy. The companies will get government benefits if they meet the specific targets,” the minister said.
For two less-developed regions of UP – Bundelkhand and Purvanchal, the Government would extend benefits to those companies which promise investments of Rs 100 crore or job to 500 people.
In Central and Western UP, the target is Rs 150 crore or employment to 750 people. In Ghaziabad and Gautam Budh Nagar, the goal has been set at Rs 200 crore or 1000 jobs while for mega projects, the target will be Rs 1000 crore or jobs for 4000 people.
The new policy has also assured concessions for companies that would employ women, Scheduled Caste and Scheduled Tribe in their firms. Companies with 40 per cent of workforce as women or those which employ 10 per cent of members from SC / ST, would be entitled to 10 per GST benefit of state share.
“To ensure investors do not face hurdle, a simplified system has been put in place. All clearances will be given through a single window system and the CM’s office will act as interface,” the Industry minister said.
Realising that law and order was a major deterrent and many investors were reluctant to invest in UP due to this, the minister said that dedicated police force for particular industrial zones will be created. :If needd, a SP level officer will head that zone as the BJP Government is committed to zero tolerance,” Mahana said.
“To invite investors to put their money in the state, a mega investors’ meet will be held in lucknow sometimes in October/November. Prime Minister Narendra Modi will be invited as Chief Guest,” the minister said.
The minister said that separate Excise, IT and Pharma policies would be announced soon.