You are here: Home » PTI Stories » National » News
Business Standard

Time-bound quality service key to attract investors, say top

Press Trust of India  |  Kochi 

: One of the key factors to attract investors was time-bound quality service, said top officials who shared the policies and best practices of various states at a session at a conference here Monday.

An ambitious initiative of the government, the one-day ASCEND 2019 conclave was aimed at positioning the state as an investment hotspot by showcasing the administrative and policy measures taken to improve the Ease of Doing Business.

The officials from Haryana and Telangana, besides the top bureaucrats of the home state, shared their success stories while attending a session on "Ease of Doing Business-sharing of best practices."

Jayesh Ranjan, (Industries), said the state has accomplished getting $21 billion in four-and-a-half years since it came into being.

More than 60 per cent of the ventures, many of which are expansion investments, had reached the stage of commercial production, he said, adding that state had received investments from 23 different countries.

"We have given 15 days for giving approval for applications from investors. If the permission is not given within the time-frame, the investor can start their ventures on the 16th day," he said.

The said an inquiry would be conducted on the delay and the salary deducted from the concerned as penalty.

On the facilities available for the industry, Jayesh said that they ensure uninterrupted power supply to industry. The government also takes the responsibility of providing skilled manpower to entrepreneurs, he said.

As part of the industrial policy, there are multiple kinds of incentives to the industry, he said.

Dr Christy Fernandez, Chairman of the state industrial development Corporation (KSIDC), who chaired the session, opined that it was necessary to improve the social milieu for the investors who wish to do business in the state.

Meanwhile, Dr Sharmila Mary Joseph, Kerala Industries Secretary and Managing Director, KSIDC, said the government has amended seven acts, 10 rules and issued a large number of orders and standard operating procedures aiming at the growth of industry.

The reform exercise would continue to take Kerala to the top list of industry-friendly states, she said.

Devender Singh, (Industries), Haryana, said high quality time-bound service delivery,putting in place strong policy and institutional frameworks,continuous investor engagement through various ways are the secrets that helped Haryana make it to the third position among industry friendly states.

"There are 80-plus and 20-plus departments in one office. Clearances are guaranteed in 45 days (30 days and 15 additional days for clarification) and there is a central inspection system to monitor the process," he said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, February 11 2019. 21:40 IST