Industry hails Akhilesh Yadav for industrial development roadmap

ASSOCHAM noted the new policy aimed at spurring integrated development, would result in generation of lakhs of job opportunities

The Associated Chambers of Commerce and Industry of India (Assocham) on Thursday hailed the industrial roadmap envisioned by Uttar Pradesh Chief Minister Akhilesh Yadav in the form of Uttar Pradesh Infrastructure and Industrial Investment Policy 2012.

Assocham said the new policy aimed at spurring integrated development, would result in generation of thousands of job opportunities in the state.

Soon after coming to power in March 2012, the Samajwadi Party government had announced the new industrial policy. Since then, fresh policies in other key sectors had also been announced, including agriculture, solar energy, dairy, IT and electronics.

The state holds tremendous potential to achieve the annual industrial and gross state domestic product growth rate of over 11 per cent and 10 per cent, respectively, by improving infrastructure and creating investor-friendly environment through tax concessions and incentives to lure industrial enterprises, Assocham National Secretary General D S Rawat has said.

“Facilitating infrastructure financing loans, ensuring speedy clearance to projects and imparting technologically advanced and quality training facilities to enhance employability of youth are certain key focus areas that can help the state emerge as the preferred investment destination across India.” said Rawat.

Besides, facilitating infrastructure development based on public-private partnership model, industry-specific cluster development for the growth of micro, small and medium enterprises, exemption from stamp duty and mandi fee, concessions in commercial taxes, rehabilitation of sick units and expansion of land banks are some key measures that would lead to industrial and economic turnaround of the state, he said.