On Investment front, ease of doing business will prove advantageous in Uttar Pradesh – Sanjay R Bhoosreddy

Lucknow: Sanjay R. Bhoosreddy, Additional Chief Secretary Excise Department, Government of Uttar Pradesh informed that in compliance with the order of  Chief Minister  Yogi Adityanath and instructions of  Excise Minister  Nitin Agarwal, establishment of new industries in order to develop the state. By adopting the policy of ease of doing business by simplifying the rules and regulations that have been in place since then, continuous work is being done to make the departmental activities very easy and by setting up various industrial units in Uttar Pradesh, investment opportunities are made available in the state.

It was told by the Additional Chief Secretary that the meeting of the Uttar Pradesh Investor Summit is proposed between February 10-12. In order to promote investment in the Excise Department, a meeting was called  under the chairmanship of Additional Chief Secretary, Excise in the presence of Excise Commissioner.

It was informed by Additional Chief Secretary, Excise that  17 investors have signed MoUs for setting up industries based on distillery, brewing and alcohol based industries in the state. MoU has been signed with which an investment of about 16,392 crores is proposed. An Intent has been filed by two similar investors for setting up industry on the portal, in which Rs 1400 crore investment is proposed, thus a total investment proposal of Rs 17,792 crore has been received on the portal.

43 investors participated in the review meeting and after being informed about the policies of the state of Uttar Pradesh and ease of doing business by the Additional Chief Secretary Excise, 16 of them got inspired and immediately proforma for investment of about 5,029 crores was filed.  In this way, a total investment proposal of about 22,821 crore has been received. During the meeting, Additional Chief Secretary Excise encouraged the investors to invest in the state of Uttar Pradesh.

Appreciating the policies of the Uttar Pradesh government, the investors showed interest in investing in the state. Investors were provided with information about distilleries, yavasavani, dakshasavani, microbrewery, yeast units, malt manufacturing, caramel manufacturing industries and investment in the state.

Certain questions were raised by the investors in the review meeting, which were resolved by informing them about the policies of the state government. On the request of the investors, it was informed that the state government has issued a mandate regarding the approval of distillery establishment from different feeds such as molasses, grains, cane juice, potatoes etc., as well as attention to fine dining in the state.

In 2015, the rules have been published for the establishment of microbrewery in the hotel bar located in the state and for the manufacture of state fruit wine. With a view to promote horticulture in the state, the state government has made arrangements for exemption of tax on wine for five years for making fruit wine by obtaining fruit from Uttar Pradesh. More investments are likely to come in the coming days.

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