Invest India facilitates Haier
People in the state of Uttar Pradesh have a new reason to rejoice. Owing to the game changing developmental efforts spearheaded by the Hon’ble Prime Minister Shri Narendra Modi and Chief Minister Yogi Adityanath, Uttar Pradesh in progressing rapidly on the path to development. Over the last few years, the state has witnessed significant changes and policy action in the areas of electricity, connectivity, roads and infrastructure.
Complementing these efforts, Chinese consumer electronics company Haier has been making strides in further enhancing the quality of life in Uttar Pradesh By bringing affordable quality appliances to the people’s doorstep, it is simplifying everyday living- especially for the middle class.
From a time when there was dearth of hot water during the winters and when there were no refrigerators to keep food fresh and safe from contamination, life has definitely changed for the better for the people of Uttar Pradesh. Haier, by producing energy efficient and environment friendly electronic products, is also promoting sustainability. More importantly, Haier has also significantly contributed to providing employment and skilling the state’s Youth. With a net investment of $400 mn, the company will provide employment to over 4000 people. In a state severely affected by joblessness and lack of effective skill development initiatives, Haier’s Interventions have come as a boon.
On one hand Invest India played a vital role in facilitating acquisition of 123.6 acres in the Integrated Industrial Township, Greater Noida when the land size for Industrial portion was capped at 85 acres. The state finally agreed to change the layout and to increase the land size limitation to accommodate investors. The ground coverage ratio was increased from 40 percent to 55 percent with assistance from the Chief Secretary, UP and the CEO, DMICDC. On the other hand Invest India also worked with the Government of Uttar Pradesh to get the electronics manufacturing policy implemented on ground by acting as a bridge between land authorities and the Department of IT & Electronics, Government of Uttar Pradesh.
Invest India prepared detailed presentations on the lack of incentives available under the GST regime and conducted a cross-state comparison(for states like Andhra Pradesh and Maharashtra) to identify states which offered gross SGST refunds instead of net refunds for few mega projects. As next step, Invest India is working closely with Haier in advising them on structuring their MSIPS application and benefits.