Associated Chambers of Commerce and Industry of India (Assocham) today hailed the new Uttar Pradesh Industrial and Infrastructure Investment Policy 2012 and the fresh initiatives by the UP State Industrial Development Corporation Limited (UPSIDC).
Assocham said the state government led by its young chief minister Akhilesh Yadav was performing well to attract investment, boost industrialisation and create employment opportunities.
It underlined that investment in the manufacturing and food processing sectors was likely to surge in UP. This is in backdrop of the government’s intention to set up National Manufacturing Investment Zone (NMIZ) in identified regions; mandi fee and development cess exemption to food processing units over minimum investments of Rs 2 crore in plant, machinery and spares, as highlighted in the new policy.
The impetus to public private partnerships (PPP) for infrastructure, setting up clusters to provide rudimentary facilities to the micro, small and medium enterprises (MSMEs), single window clearance and creation/expansion of land banks have been praised.
Assocham northern region development council chairman and leading industrialist Lalit Khaitan listed rehabilitation policy for economically viable sick units and exit policy for unviable closed units as pro-industry measures.
By waiving stamp duty on purchase, lease or acquisition of land for setting up industrial units with complete stamp duty exemption to sectors like IT, business process outsourcing (BPO), biotech, food processing and alternative energy resources, and private sector infrastructure development, the chief minister was matching up to the industry’s expectations, Assocham secretary general D S Rawat noted.
Iron and steel was another promising sector that would open up employment avenues for the youth.
Auraiya Plastic City, two mega leather cluster parks in Kanpur and Hardoi, high-tech township in Chola and Ghaziabad under Delhi-Mumbai Industrial Corridor (DMIC), Trans Ganga City in Kanpur and Mega Food Park in Jagdishpur and other initiatives depict the industry-friendly, proactive approach of the government to address issues concerning industry, it added.