 "Indian economy")
The Delhi government has proposed the 'Industrial and Economic Development Policy 202333' to create a knowledge-based economy through high-tech industrial development and services sector and make the national capital a "24-hour city".
Industries department officials on Saturday said that comments have been invited from the shareholders on the policy white paper till November 20.
The proposed policy envisions making Delhi a globally competitive urban economy through the promotion of night economy, plug-and-play facilities, startups and new economic activities.
The mission of the government through the policy will be to promote the services sector and knowledge-based economy, hi-tech industrial and economic development, stated the white paper.
The policy objectives will be implemented in a timely and transparent manner while creating an accountable governance mechanism. The policy will be operational for 10 years after its notification, it stated.
"The concept of a '24-hour city' for Delhi will be promoted through the model shops and establishments (regulation of employment and conditions of services) Act 2015, as well as the formulation of a suitable night-time economy policy," said the policy white paper.
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Nodes, precincts, or circuits will be identified for continuing work, cultural activity, and entertainment at night to attract tourists and locals. This will improve economic yield by extending the utilization of workspaces and safety in the city by promoting a vibrant nightlife, it said.
The night-time economy refers to the mix of business, leisure, social and cultural activities, and related activities including food, beverages and entertainment-focused core activities such as restaurants, cafes, pubs, bars, theatres, festivals, markets, and live music.
Over the past few years, the Industries department has been working towards cultivating innovation and entrepreneurship in Delhi. The recently introduced startup policy aims to position Delhi as one of the top startup destinations in India and worldwide, it said.
"In alignment with the Startup Policy, the Delhi Industrial and Economic Development Policy will focus on creating a conducive, innovative, and supportive environment for Startups by providing proactive, measurable, and beneficial initiatives and assistance to startups, enabling them to flourish in Delhi."
Delhi government intends to promote the 'Plug and Play' model especially for High-tech clusters, MSMEs, and units in industrial areas across Delhi, it said.
In pursuance of the Ease of Doing Business recommendations, Delhi State Industrial Infrastructure Development Corporation (DSIIDC may allot land for creating and facilitating plug-and-play options in industrial areas of the the city, it said.
Further, the policy will focus on cluster development initiatives and incentives for Delhi's "thriving" ecosystem for the hi-tech Industry and knowledge-based Industries, it said.
Promoting these industries will include various initiatives such as plug-and-play facilities, incubation centres, skill development centres, and specialized ITIs.
Cluster development strategy aims to promote the growth and competitiveness of interconnected groups of firms within a particular industry or region, it added.
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