Economy Update : Haryana Enterprise and Employment Policy seeks to position Haryana as favoured investment destination

Insight Online News

Chandigarh, Mar 5 : Haryana Governor Satyadeo Narain Arya on Friday said that the new Haryana Enterprise and Employment Policy, 2020 seeks to position Haryana as a favoured investment destination, achieve regional development, export diversification and augment livelihood opportunities and the objective is to attract investments of Rs 1 lakh crore and generate 5 lakh jobs in the state.

Stating this while delivering his address on the first day of budget session of Haryana Assembly which commenced here today, Mr Arya said that the Policy focuses on strengthening the services sector which contributes over 50 per cent to the State’s Gross Value Added, strengthening MSMEs and seeks to boost investment in eight thrust sectors Auto, Auto Components and Light Engineering, Agro-based, Food Processing and Allied Industry, Textile and Apparel, Electronics System Design and Manufacturing (ESDM), Defence and Aerospace Manufacturing, Pharmaceutical and Medical Devices, Chemical and Petrochemicals and Large Scale Energy and Data Storage.

He said that the policy offers an array of attractive fiscal incentives including investment subsidy, interest subsidy, stamp duty refund, electricity duty refund, employment subsidy and technology acquisition support. The state government is determined to create an ecosystem in which the Ease of Doing Business in the State matches and even exceeds the best global standards through regulatory reforms in land, labour, power and institutional mechanisms.

“The State Government is also developing Integrated Multi Modal Logistics Hub (IMMLH) in Narnaul, Mahendragarh, on an area of 886 acres in collaboration with Delhi-Mumbai Industrial Corridor Project (DMIC) at the project cost of USD 700 Million,” he asserted.
The Governor said that the state government has set up the Foreign Co-operation Department to promote Haryana’s interests in foreign nations in the area of trade and investment and to promote Haryanvi culture as well as ensure welfare and well being of the Haryanvi diaspora. It has undertaken effective liaison and interaction with Indian Missions abroad, Union Ministry of External Affairs on issues pertaining to Haryana’s interests globally, he said.


Leave a Reply

Your email address will not be published. Required fields are marked *