In a bid to boost investment in the state, Kerala Assembly on Wednesday passed a bill, which will allow entrepreneurs to start micro, small and medium industry with an investment of up to Rs 10 crore without obtaining any license from the government.
Industries Minister EP Jayarajan told reporters that the landmark bill would boost the investors' confidence.
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"The bill will ensure single-window clearance and enhance the ease of doing business in the state," he said.
The bill 'Kerala Micro, Small and Medium Enterprises Facilitation Bill, 2019,', provides the investor with a grace period of up to three years to get the requisite sanctions.
"All an investor has to do is to give an affidavit to the single window clearance system of the Industries department. This will ensure that there won't be any delay for the investor to start his project, who otherwise has to face many hurdles before investing in a project," said Jayarajan.
By the end of the three year leniency period, the firm should obtain all valid licences to run the enterprise.
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