State signs Rs 20,000-crore MoU for logistics hub
Tribune News Service
Chandigarh, November 2
The state government signed a memorandum of understanding (MoU) with Verbind at the sixth edition of the CII Invest North 2017 being held at Mumbai for a project to come up at an investment of Rs 20,000 crore in Haryana. The logistics and trading hub would be spread over 600 acres near Gurugram. The project will generate direct or indirect employment for six lakh persons.
Addressing the Haryana plenary session on the second day of the CII Invest North 2017, Sudhir Rajpal, Principal Secretary (Industries and Commerce), said Haryana was ranked first among north Indian states in the Ease of Doing Business Index of the Government of India, and sixth in the country. Investor-friendly policies, young population, skilled manpower, highest per capita income, and huge urban market were the key factors driving the growth of Haryana.
Acknowledging state’s strategic location, he listed proximity to high consumer base of the NCR and the passage of two major industrial corridors of the Delhi-Mumbai and Amritsar-Kolkata as the main contributors to the growth of the state. He showcased investment climate, policies and opportunities of Haryana in a detailed presentation for potential investors at the summit.
As per the National Council of Applied Economic Research (NCAER) State Investment Potential Index 2017, Haryana is ranked fourth among the Indian states. It also ranks first in terms of governance and political stability.
Speaking about the conducive business environment, Rajpal mentioned about the online portal ‘Invest Haryana’, which had more than 65 business services that were completely online without manual interface, making the application process transparent and clearances faster. The Haryana Government has given more than 2,000 clearances through their online portal in six months. Terming it as the ‘Single Roof Solution’, he said 14 state departments worked under one roof to ensure faster clearances.
The state government also gives multiple incentives that further reduce the cost of doing business in Haryana. Through its Enterprise Promotion Policy, the Haryana Government offers SGST subsidy of up to 75 per cent for the first five years, stamp duty refund of up to 100 per cent, apart from other incentives under development charges and employment subsidy.
Shrivallabh Goyal, Director of Model Economic Township Ltd (Reliance), said Haryana was a progressive state and a destination for foreign and domestic investment. The structural reforms by the state government had led to positivity among investors, he said.
Applauding the Central government’s Ease of Doing Business initiative, he said the model had increased transparency, while adding that reforms such as labour reforms, GST and RERA had made the business climate in Haryana favourable.
