Industrial Entrepreneurs’ Memorandum

The commerce and industry ministry on Tuesday came out with a standard operating procedure (SOP) for making changes or cancellation of IEM (Industrial Entrepreneur Memorandum). Industrial undertakings exempted from the requirements of licensing under The Industries (Development and Regulation) Act 1951 are required to file information relating to setting up of industries, which is known as IEM (Industrial Entrepreneur Memorandum). Confirmation for receipt of such information by the department for promotion of industry and internal trade (DPIIT) is IEM Acknowledgement. The DPIIT in an office memorandum said that it was receiving several applications from companies requesting for amendments, cancellation and issuance of duplicate IEM. "in this regard, the requests have been considered and it is decided that the... standard operating procedure will be adopted" for these purposes, the memorandum said. For cancellation of IEM acknowledgements, it said that the concerned firm has to giv

With reference to the article, "Investment proposals in reverse gear" by Dilasha Seth (February 24), the headline is misleading. So are the inferences drawn from a number of Industrial Entrepreneurs' Memorandum (IEM) filings and the investment indicated in those IEMs.The IEM is only an expression of intention, not a firm commitment of investment. The data set quoted by Seth carries the actual investment in a particular year; that investment has been increasing over the years. Actual investment as a percentage of proposed investment indicated in IEMs at 25 per cent was the highest in 2015.The IEM filings have been decreasing because micro, small and medium enterprises are no longer required to file them. Investment in special economic zones is also not captured in the IEMs.Other parameters that reflect a growing economy have been ignored in the article. Gross domestic product growth in 2015-16 increased to 7.6 per cent (AE) from 7.2 per cent in 2014-15 and 6.6 per cent in 2013-14. So di