Nivesh Mitra; Economic Focus on Uttar Pradesh

: Uttar Pradesh is all set to become a manufacturing hub of Indian economy. As per the recent developments, UP government has launched a portal ‘NIVESH MITRA”

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One of India’s largest states, Uttar Pradesh, is all set to become a manufacturing hub of Indian economy. As per the recent developments, UP government has launched a portal ‘NIVESH MITRA”, a dedicated single window system of the government of Uttar Pradesh.

“With a view to kick-start resumption of industrial units and investment attraction for setting up of new industries in the state for much needed economic revival and job creation, we are issuing clearances with “Nivesh Mitra”, Industrial Development Minister Satish Mohana said.

What is ‘Nivesh Mitra’?

  • The website is created to enable ease of doing business in UP by facilitating the entrepreneurs with an electronic based transparent system for online submission and tracking of applications including online fee payment
  • It will be a single point (online) interface which will supposedly provide a time bound clearance system by acting as a ‘one stop solution’ for infrastructure/ NOCs/ license and approvals
  • Its window system will also provide all assistance and hand holding support to the investors who intend to start/ operate a business in the state
  • As many as 21 new online services of the UP state Industrial Development Authority (UPSIDA) is integrated with ‘Nivesh Mitra’. Here is the list of departments merged with ‘Nivesh Mitra’:
  1. Board of Revenue
  2. Department of Excise
  3. Department of Stamp and Registration
  4. Department of weights and Measure Legal Metrology
  5. Directorate of Electrical Safety
  6. Food Safety and Drug Administration
  7. Forest and Wildlife Department
  8. Housing Department
  9. Industrial Development Authority Greater Noida
  10. Industrial Development Authority Noida
  11. Industrial Development Authority UPSIDC
  12. Industrial Development Authority YEIDA
  13. Infrastructure and Industrial Development Authority UPSIDC
  14. Labor Department
  15. PICUP
  16. Pollution Control Board
  17. Public Works Department
  18. Registrar Firm Societies and Clubs
  19. Urban Development Department
  20. Uttar Pradesh Fire Services
  21. Uttar Pradesh Power Corporation Limited

Why Invest in Uttar Pradesh?

  • 2 Special Economic Zones (SEZs) set up by the government – Multi Product Noida SEZ at Noida and Product Specific SEZ at Moradabad
  • 4 Special Economic Zones set up by few private developers. Those are Moser Baer India Ltd at Greater Noida, Wipro Technologies Ltd at Greater Noida, HCL Technologies Park at Noida and Sea View Developers at Noida
  • SPECIAL ECONOMIC ZONE is a dedicated zone wherein the businesses enjoy simpler tax and easier legal compliances than rest of the country.
  • There are around 52 dedicated industrial areas under UPSIDC.
  • INDUSTRIAL CORRIDORS offer effective integration between industries and infrastructure
  • Other than this, the Government of UP has also provided Dedicated Freight Corridors for hassle free transportation- Western Dedicated Freight Corridor and Eastern Dedicated Freight Corridor. This will reduce unit cost of transportation by permitting higher volumes of light weight freight in a more reliable manner

The UP government is also offering a bundle of benefits to the entrepreneurs who would like to invest or set up a company in the state. To name a few:

  1. Capital Investment Assistance
  2. Stamp Duty Reimbursement
  3. Interest Subsidies
  4. GST Reimbursement
  5. Incentives for SC/ST and differently abled entrepreneurs
  6. Employment Generation Incentives
  7. Customized Incentives for mega projects
  8. Promotion to Private Industrial Parks
  9. HR Development Incentives
  10. Export promotion and project development assistance
  11. 24*7 reliable electricity to industries
  12. Strong Industrial Security – ‘ZERO TOLERANCE PHILOSOPHY’

Not all fingers are of equal length and so these are the benefit provided. Uttar Pradesh has set its path for a Better Future and now it depends on us how we can grow with it.

(Source: ‘Nivesh Mitra, Government of Uttar Pradesh)


 

 

CA Anuj Agrawal

About the author: Qualified in the year 2016, CA. Anuj Agrawal is a qualified Chartered Accountant from the Institute of
Chartered Accountants of India and is a qualified Information and System Auditor [DISA]. He is
regularly providing services to a number of clients in the area of direct and indirect taxation, assurance
and Corporate Law. Has also successfully represented many clients in form of various tax authorities in
assessment and appeal.

He believes in the policies of Start Up India and is focused in bringing work from developed countries in
India and to provide complete business solution to the companies.

He always believes in satisfying customers with world-class services and has defined his values by the
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Nivesh Mitra; Economic Focus on Uttar Pradesh
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: Uttar Pradesh is all set to become a manufacturing hub of Indian economy. As per the recent developments, UP government has launched a portal ‘NIVESH MITRA”
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THE POLICY TIMES
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