Lucknow: The Uttar Pradesh government led by Chief Minister has prepared an action plan to promote ‘Brand UP’ within the country and abroad to achieve the larger goal of making the state a $1 trillion economy.
The action plan is part of the Yogi Government’s recently released Industrial Investment and Employment Policy and seeks to project the developments that have taken place in the state in the last five and a half years in terms of Ease of Doing Business, investment-friendly and safe environment as well as expeditious approval of proposals on national and international platforms.
It is worth mentioning that Uttar Pradesh has jumped to the second position in the country in Ease of Doing Business and has also been honoured with the Achiever award by the Government of India for its Business Reform Action Plan. Due to simplification of rules and procedures by the state government, a favourable environment for business has been created in the state. Besides, digital facilitation services have been developed for time bound and transparent approval of the proposed projects.
Plan to make UP the most preferred investment destination
The UP Government believes that a comprehensive framework for promoting investment in the state and realizing its true potential are a must to establish Uttar Pradesh as the best and the most preferred investment destination globally, Yogi said, adding, “The help of specialized professionals of the field will be taken in adopting a targeted approach to reach out to the investors and create investment opportunities in the state through various channels.
UP to be developed into global investment hub
The state government will participate in various national and international trade fairs, programmes and conferences and also host such events in the state, which will be an ideal platform for B-to-G dialogue and for showcasing and promoting the uniqueness and favorable policy framework of Uttar Pradesh. With the aim of establishing Uttar Pradesh as a global investment hub, the Global Investor Summit will be organised in February 2023.
New sectors will be encouraged
According to the policy, the State Level Investment Promotion Board will be strengthened and the incentive framework streamlined to provide financial and non-financial incentives in emerging sectors of regional importance. To encourage foreign investors to set up plants in UP, 40 per cent of the value of imported old plants and machinery will be considered as eligible capital investment for providing various financial incentives mentioned in the policy.
A customer relationship management portal will be developed by Invest UP for investment management and investor interaction. It will also be linked to the online single window portal, Nivesh Mitra. It will provide a one stop solution to all the investors. Online incentive management system will be developed for acceptance of incentives for all policies. It will also be linked to Nivesh Mitra. Along with this, the existing helpline service of Invest UP will be strengthened. Dedicated nodal officers will be nominated to facilitate mega and above rated projects. Special soft-skill training will be introduced to inculcate a customer oriented mindset in all the departments serving the industries.
To ensure Ease of Doing Business, the Government of Uttar Pradesh has put in place self-certification for 5 Low Risk Approvals. For simplification of procedures to start a business in the state, there is a system of auto-renewal in more than 17 services. Apart from this, the requirement of renewal of more than 7 licences has been done away with in the state under the programme to improve Ease of Doing business. More than 100 government services in the state have been identified/notified under the Uttar Pradesh Janhit Guarantee Act, in which the time-limit has been fixed for providing these services.
97 percent of applications disposed
The State Government is providing more than 353 services of 29 departments through Nivesh Mitra, a single window portal of Uttar Pradesh. Till September 2022, more than 18 lakh applications have been received through Nivesh Mitra Portal, out of which about 97 per cent have been disposed of. New services required by the state government to establish and operate business in the state will be identified. For this, industrial houses, organszations and departments will be consulted. For this, industrial houses, organisations and departments will be consulted. Such services will be made available online by the concerned department and will be integrated with Nivesh Mitra portal to provide one stop solution for businesses.
UP will give fear-free industrial environment
The Uttar Pradesh government will ensure to provide a safe and fear-free industrial environment in the state. For this industrial clusters/police stations will be set up in areas like Noida, Kanpur, Gorakhpur, BulchandPurvanchal. Integrated police and fire stations will also be set up in major industrial clusters/areas. The state government has also notified the establishment of 17 commercial courts in major districts for disposal of commercial cases under contract enforcement. This system will be further strengthened and the entire court management system will be made online.