UP set to unveil new industrial policy

Press Trust of India Lucknow | Updated on January 12, 2018 Published on June 09, 2017

CM okays draft; announcement ‘in 2-4 weeks’

The blueprint of the new industrial policy of Uttar Pradesh, which promises ease of doing business, tax relief and continuous power supply and aimed at promoting units in the backward Purvanchal and Bundelkhand regions, has been approved by Chief Minister Yogi Adityanath.

“The CM has approved the draft of the new industrial policy after some amendments. It will be uploaded on the website of the department for suggestions and objections of people before finalising it and presenting it before the state Cabinet,” an official spokesman said here today.

‘In 2-4 weeks’

Adityanath has carefully gone through the key points of the ‘UP Industrial Investment and Employment Promotion Policy 2017’ before approving the draft, he said. The government will unveil the policy in the “next 2-4 weeks,” according to UP Industries Minister Satish Mahana.

The new policy will seek to simplify the procedure for development of fundamental infrastructure and promote establishment of industries in Purvanchal and Bundelkhand regions.

It will also ensure time-bound approvals with special focus on IT start-ups, electronics, agriculture and food processing, dairy, handloom, film development and tourism sectors, besides others.

Promoting food parks and restoring the old glory of Kanpur, once called the Manchester of the East, will also be part of the new industrial policy.

Power supply

The highlight of the policy will be uninterrupted power supply to industries.

“As far as power is concerned, we are going to give open access for it. The industrialists and investors can purchase power from the private party. This open access was not there in UP till date,” Mahana said, adding, “We are also coming out with tax benefits for the investors.”

The minister said a single-window system will be set up to provide all facilities to potential investors under one roof. “We are also studying industrial policies of other states to incorporate good things,” the minister said.

“Industrialists want congenial atmosphere and ease of doing business. Earlier, there used to be huge power cuts. By 2018, we will give round-the-clock power supply to people and have promised industrialists uninterrupted power,” he said.

Referring to the industrial units located close to the Ganga, Mahana said, “Polluting industries will be shifted to other places. We have offered to set up an industrial cluster for their relocation.”

Samsung to invest

Mahana said consumer electronics major Samsung will invest ₹4,915 crore to double its manufacturing capacity for smartphones and refrigerators at its Noida plant.

He said soon after the BJP came to power in UP, a five-member delegation of Samsung India called on the Chief Minister and apprised him of the problems faced by the company as well as conveyed their willingness to partner in the state’s development.

The Korean electronics major has said that the investment would position the Noida plant as a major production hub and create about 5,000 new jobs.

Published on June 09, 2017
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