Government of India’s Measures to Boost Business, Improve EoDB & Welcome FDI During COVID-19
The global macroeconomic outlook for current financial year 2020-21 has been adversely affected by COVID-19 pandemic which has impacted majority of countries in the world across the continents. The pandemic has cast its shadow across various economic activities with massive dislocation in global production, supply chains and trade. The spread of Covid-19 in India and its mitigation plan of 40 day nationwide lockdown from 25 March 2020 to 3 May 2020 and a possibility of further extension of lockdown by several State Governments, there is likely to be a significant impact across various sectors of the economy.
To address these adverse times, the Government of India has been preparing strategies and action plans not only for business continuity and sectoral revival but also re-rolling the red carpet for global investors to continue to choose India as their preferred destination for investments. The Government of India continues to enhance international co-operation for promoting FDI and improve Ease of Doing Business in the country by releasing notifications / amendments / circulars highlighting measures to improve business environment in India. Below are some of the special measures by Central government, State governments and the sectoral ministries to welcome and boost businesses in India.
Central Measures by GoI to Support Investors
Relief measures announced by Finance Minister across the following domains:
- Income tax filing
- GST filing
- Corporate affairs
- GST
- Customs & Central Excise
- Insolvency & Bankruptcy Code (IBC)
- Fisheries
- Banking Sector
- Commerce
On Trade
- Helpdesk operationalized by DGFT for COVID-19 related Export or Import issue (Read here)
- 24X7 Custom clearance till end of 30 June 2020
- Foreign Trade Policy 2015-2020 extended for one year; Other immediate relief measures also announced (Read here)
- Department of Commerce has Provided a number of Relaxations / Extensions of various Compliance Deadlines etc. to address Corona Pandemic Related Hardships of Exporters (Read here)
On Corporate Affairs
- In order to facilitate the companies registered in India to make a fresh start on a clean slate, the Ministry of Corporate Affairs has decided to take certain alleviative measures for the benefit of all companies by way of Companies Fresh Start Scheme notified for permitting delayed filings under the Companies Act, 2013 (Read here)
- Several relaxations provided to companies and Limited Liability Partnerships (LLPs) from statutory requirements under Companies Act, 2013 and LLP Act, 2008. (Read here)
- Newly incorporated companies are required to file a declaration for Commencement of Business within 6 months of incorporation. An additional time of 6 more months shall be allowed.
- Non-compliance of minimum residency in India for a period of at least 182 days by at least one director of every company, under Section 149 of the Companies Act, shall not be treated as a violation.
- SEBI relaxes buy-back period restriction for companies in view of COVID-19 to enable quicker access to capital. Currently, regulations restrict companies to raise capital for a period of one year from the expiry of buy-back period. This has been reduced to 6 months. (Read here)
- SEBI relaxes regulation requiring entities to hold an Annual General Meeting. Currently, the regulations require top 100 companies by market capitalisation to hold an Annual General Meeting within 5 months from closing of financial year. (Read here)
Foreign Portfolio Investments
Relaxation in certain compliance requirements for Foreign Portfolio Investments due to COVID-19 (Read here)
Easing off environmental clearances
Extension of validity of prior issued environmental clearances for all projects and activities which are expiring between March 15, 2020 and April 30, 2020, till June 30, 2020 to ensure uninterrupted operations (Read here)
Easing off financial burden by Reserve Bank of India
Reserve Bank of India sets out various developmental and regulatory policies that directly address the stress in financial conditions caused by COVID-19.
- Expanding liquidity in the system sizeably to ensure that financial markets and institutions are able to function normally in the face of COVID-related dislocations;
- Reinforcing monetary transmission so that bank credit flows on easier terms are sustained to those who have been affected by the pandemic;
- Easing financial stress caused by COVID-19 disruptions by relaxing repayment pressures and improving access to working capital; and
- Improving the functioning of markets in view of the high volatility experienced with the onset and spread of the pandemic.
On Logistics
- Advisory on non-charging of container detention charges on import and export shipments (Read here)
- Indian Railways announces several incentives for freight traffic during COVID pandemic. These include non-levy of Demurrage, Wharfage and other ancillary charges, delivery of goods in absence of Railway Receipt, and certain other relaxations in freight transportation (Read here)
Sectoral Boost Provided by Government of India
Pharmaceuticals
India is a prominent leader and has a rapidly growing presence in global pharmaceuticals. It is the largest provider of generic medicines globally, occupying a 20% share in global supply by volume, and supplies 50% of global demand for vaccines. India ranks 3rd worldwide for production by volume and 13th by value, thereby accounting for around 10% of world’s production by volume and 1.5% by value. In order to retain India’s position as a world leader in pharmaceuticals, the Government of India has undertaken the following initiatives in the last month in the wake of the COVID-19 pandemic:
- Environmental clearances to be granted expeditiously to projects related to active pharmaceutical ingredients and bulk drug intermediates. (Read here)
- The Directorate General of Foreign Trade (DGFT) amended the export policy for APIs such as vitamins B1, B6 and B12, tinidazole, metronidazole, acyclovir, progesterone and chloramphenicol, among others to ‘free’ from ‘restricted’ in a notification dated April 6. (Read here)
Other schemes in implementation for boosting this sector are as follows:
- Promotion of Bulk Drug Parks
- The government aims to develop 3 mega Bulk Drug parks in India in partnership with States.
- The Government of India will give Grants-in-Aid to States with a maximum limit of INR 1000 Crore per Bulk Drug Park.
- Parks will have common facilities such as solvent recovery plant, distillation plant, power & steam units, common effluent treatment plant etc.
- A sum of INR 3,000 crores have been approved for this scheme for next 5 years.
To know more, click here.
- Production Linked Incentive (PLI) Scheme
- Financial incentives will be given to eligible manufacturers of identified 53 critical bulk drugs on their incremental sales over the base year (2019-20) for a period of 6 years.
- Out of 53 identified bulk drugs, 26 are fermentation based bulk drugs and 27 are chemical synthesis based bulk drugs.
- Rate of incentive will be 20 % (of incremental sales value) for fermentation based bulk drugs and 10% for chemical synthesis based bulk drugs.
- A sum of INR 6,940 crores have been approved for next 8 years.
For more information, please visit the Pharmaceuticals sector microsite
Medical Devices
COVID-19 Pandemic has brought about unprecedented changes in the tempo that the medical devices industry works at. The modern healthcare system faces a major challenge and requires a more rigorous push globally as well as domestically. The medical devices industry in India consists of large multinationals, with extensive service networks, as well as small and medium enterprises (SMEs). The current market size of the medical devices industry in India is estimated to be $11 bn. Medical devices are segregated into six major segments, of which equipment and instruments (surgical and non-surgical) form the largest portion (53%) of the pie in India.
There are 750–800 domestic medical devices manufacturers in India, with an average investment of $2.3–2.7 mn and an average turnover of $6.2–6.9 mn. Around 65% of the manufacturers are mostly domestic players operating in the consumables segment and catering to local consumption with limited exports. It in the light to propel this segment for further growth, the Government of India has undertaken the following initiatives in the last month:
- More than 280 units in SEZs, manufacturing essential items like pharmaceuticals and hospital devices, are operational (Read here)
- Exemption granted from Basic Customs Duty and Health Cess (till September 2020) on import of ventilators, masks, PPEs, test kits, and inputs used to manufacture these (Read here)
For more information, please visit the Medical Devices microsite.
Textiles
With the pandemic bringing Textile Industry in India to the fore, the $136.6 bn textile market in India is poised for growth. This sector which generates second-largest jobs in India (45 mn direct) is undergoing a massive transformation. India’s strengths have already been defined in traditional textiles, natural fibres globally and its stronghold on synthetic fibres by virtue of being the 2nd largest producer of polyester in the world is ushering a sea of change. This change is noticeable as technical textiles in India have already established a market size of $17 bn and a further push for Medical Textiles will only surge this number higher. In order to position India as a world leader in Textiles, the Government of India has undertaken the following initiatives in the last month:
- Setting Up of National Technical Textile Mission
- The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval to set up a National Technical Textiles Mission with a total outlay of $194 mn. Having a 4 year implementation period from FY 2020-21 to 2023-24, the Mission will aim at average growth rate of 15-20% per annum taking the level of domestic market size to $40-50 bn by the year 2024 through market development, market promotion, international technical collaborations, investment promotions and ‘Make in India’ initiative. (Read here)
- Ministry of Textiles provide a boost to Jute packaging Industry
- Textiles Ministry extends support to protect interest of jute farmers and workers by extending limit for HDPE/PP bags from 1.80 lakh bales to 2.62 lakh to tide over crisis of packaging of food grains due to closure of jute mills during lock down (Read here)
- Continuation of Rebate of State and Central Taxes and Levies (RoSCTL)
- The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has given its approval for continuation of Rebate of State and Central Taxes and Levies (RoSCTL) from 1st April, 2020 onward until such time that the scheme is merged with Remission of Duties and Taxes on Exported Products (RoDTEP), specifically of Garments and Made-ups. (Read here)
- Ministry of Textiles along with Ministry of Health & family Welfare, Department of Pharmaceuticals are continuously working with various industry bodies, stakeholders and manufacturers on 24x7 basis, to streamline the supply chain, remove bottlenecks and maintain a steady supply of all materials required for Body Coveralls, N-95 Masks, and 2-ply/3-ply Surgical Masks for the healthcare professionals to combat COVID-19 cases. (Read here)
For more information, please visit the Textiles sector microsite.
ESDM (Electronics)
In order to position India as a global hub for Electronics System Design and Manufacturing (ESDM) and push further the vision of the National Policy on Electronics (NPE) 2019, three schemes namely the Production Linked Incentive Scheme (PLI), Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) and Modified Electronics Manufacturing Clusters Scheme (EMC 2.0) have been notified by the Ministry of Electronics and Information Technology (MEITY) as of April 2020.
- Production Linked Incentive Scheme (PLI)
- The Production Linked Incentive Scheme (PLI) for Large Scale Electronics Manufacturing proposes a financial incentive to boost domestic manufacturing and attract large investments in the electronics value chain including mobile phones, electronic components and ATMP units. Production Linked Incentives of up to INR 40,951 crores will be awarded over a period of 5 years. (Read here)
- Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS)
- The Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) aims to strengthen the manufacturing ecosystem for electronic components and semiconductors. Target manufacturing of electronic components and semiconductors through the scheme will help meet domestic demand, increase value addition and promote employment opportunities in this sector. Incentives of up to INR 3,285 crore will be awarded under the Scheme over a period of 8 years. (Read here)
- Modified Electronics Manufacturing Clusters Scheme (EMC 2.0)
- The Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme seeks to strengthen the infrastructure base for the electronics industry and deepen the electronics value chain in India. The development of industry-specific facilities like Common Facility Centers, Ready Built Factory, Sheds/Plug and Play facilities will not only strengthen supply chain responsiveness and promote the consolidation of suppliers but also decrease time-to-market and lower logistics costs. EMC 2.0, therefore, provides financial incentives for creating quality infrastructure as well as common facilities and amenities for electronics manufacturers. Financial Incentives of up to INR 3,762 Crore will be disbursed over a period of 8 years. (Read here)
For more information, please visit the Electronic Systems sector microsite.
Research & Development (R&D)
“We sometimes are critical of our institutions, industry, saying that they are not connected enough to society. Today we see something inspiring. Mathematicians, biologists, clinicians, industry IT; coming together intelligently with health professionals, taking on leadership in India,” says the Prof. K VijayRaghavan, the Principal Scientific Adviser to the Government of India.
Rising to the National Call to combat the public health crisis arising out of COVID-19 pandemic, the Department of Science & Technology (DST) is synergising and consolidating the various activities carried out by the Ministry of Science & Technology and its network of autonomous institutions and scientific bodies across the country.
The solutions and novel applications to address Covid19 pandemic related challenges are being taken up through a three-pronged approach. These include:
- Extensive mapping of solutions requiring R&D support, startups with viable products requiring facilitation and manufacturing support;
- Identification of market deployable products requiring seed support and
- Support for solutions already in market but requiring substantial scale up to augment their manufacturing infrastructure and capabilities.
- The Department of Scientific & Industrial Research (DSIR) offers manufacturing companies, tax exemptions up to 150% for expenses incurred on R&D in their respective field. This exemption let companies to spend more money in their R&D and helps in innovating new technology, product development & related processes.
- Department of Science and Technology initiates exercise to map COVID-19 solutions through research and development and scale up support. Proposals are invited for protection and home-based respiratory interventions for COVID-19 patients. (Read here)
Active collaboration between the Ministry of Health and Family Welfare, Indian Council of Medical Research, National Disaster Management Authority and the State Disaster Management Authority, the State Health Ministries has been formed. They deal with testing every aspect of the disease and act on that information nationally and through State health by collaborating with Ministry of Electronics & Information Technology, Department of Science and Technology, Department of Biotechnology, Council of Scientific & Industrial Research.
For more information, please visit PM-STIAC and AGNIi portals.
Food Processing
The Prime Minister of India, Narendra Modi while announcing the nationwide lockdown assured the country that there are ample reserves of medicines, food and other essential goods and that India’s need for food will be met at any cost.The pandemic is impacting global as well as domestic food systems, disrupting regional agricultural value chains, and posing risks to household food security. While the Government is committed to ensure the continuity of agro-food business, it has taken immediate steps to provide much relief to the sector by undertaking the following initiatives:
- Ministry of Food Processing Industries (MoFPI) sets up a grievance cell for the food and related industry to ensure hassle-free operations and uninterrupted supply of essentials. (Read here)
- Agriculture Minister Shri Narendra Singh Tomar launches “Kisan Rath”Mobile App to facilitate transportation of foodgrains and perishables during lockdown by connecting farmers and traders with transporters. (Read here)
- Food Processing ministry forms a dedicated task force to resolve all problems being faced by the food processing and ancillary industries during the current COVID-19 lockdown.
Other schemes in implementation for boosting this sector are as follows:
Government of India (GOI) approved Central Sector Scheme – Pradhan Mantri Kisan SAMPADA Yojana (Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters) with an allocation of INR 6,000 crore for the period 2016-20 coterminous with the 14th Finance Commission cycle. The scheme will be implemented by Ministry of Food Processing Industries (MoFPI).
The following schemes are implemented under PM Kisan SAMPADA Yojana:
- Mega Food Parks
- 50% of the eligible project cost for General Area & 75% for North East, Hill & Difficult areas subject to maximum of INR 50.00 cr.
- Integrated Cold Chain and Value Addition Infrastructure
- For Storage Infrastructure – 35% of project cost in General Areas & 50% in North East, Hill and Difficult Areas.
- For Food Processing Infrastructure – 50% of project cost in General Area & 75% for North East, Hill and Difficult areas.
- Creation/ Expansion of Food Processing/ Preservation Capacities (Unit Scheme)
- 35% of eligible project cost for General Area & 50% for North East, Hill & Difficult areas subject to maximum of INR 5 cr.
- Infrastructure for Agro-processing Clusters
- 35% of the eligible project cost for General Area & 50% for North East, Hill & Difficult areas subject to maximum of INR 10 cr.
- Creation of Backward and Forward Linkages
- 35% of the eligible project cost for General Area & 50% for North East, Hill & Difficult areas subject to maximum of INR 5 cr.
- Food Safety and Quality Assurance Infrastructure
- 50% of the cost of laboratory equipment for General Area & 70% for North East, Hill & Difficult areas. 100% for Govt. / Public Sector.
- 35% of the cost of technical civil works for General Area & 33% for North East, Hill & Difficult areas.
- Human Resources and Institutions
- R&D Scheme
- Skill Development Scheme
- Operation Greens: Scheme for integrated development of Tomato, Onion and Potato (TOP) value chain-
- Price Stabilization Measure
- Subsidy at 50% of the cost of the following 3 components: Transportation of TOP crops from production to storage; Hiring of appropriate storage facilities for TOP crops
PM Kisan SAMPADA Yojana is expected to leverage investment of INR 31,400 crore for handling of 334 lakh MT agro-produce valued at INR 1,04,125 crore, benefiting 20 lakh farmers and generating 5,30,500 direct/indirect employment in the country by the year 2019-20.
For more information, please visit the Food Processing microsite.
Renewable Energy
The COVID-19 pandemic has forced countries to restrict international travel, suspend export and import, and initiate lockdown measures to restrict the movement of people. Development-stage renewable energy projects are expected to be impacted due to these measures as many of them are dependent on equipment to be imported from other regions. Projects that are in early-stage development and small and mid-size projects are expected to be the most impacted by the pandemic, according to S&P Global.
India is expected to face delays in the development of up to 3 GW of solar and wind energy projects due to the current lockdown, according to Wood Mackenzie’s research. Further, supply and labour disruptions are expected to delay 400MW of projects in 2021. Although recently, India’s Ministry of New and Renewable Energy announced that clean energy projects have not been affected by the falling electricity demand following a nationwide lockdown.
The Government of India has undertaken the following initiatives / measures in the past weeks:
- MNRE announced time extension in scheduled commissioning date of renewable energy projects due to disruption in supply chain. (Read here)
- Power minister approves major relief measures for power sector.
- Union power ministry to ensure 24×7 electricity supply during lockdown
- Payment security to be reduced by 50 percent
- 3 months moratorium on Discoms to make payment to Gencos and transmission licensees
- MNRE issues instructions regarding invoicing of renewable energy supplies, invoices over email can be accepted instead of hard copies. (Read here)
- Clarification regarding moratorium to discoms for payments, must run status to RE generating stations, regular payment to RE generating stations required (Read here)
- Clarification by MNRE on Must Run status of Renewable Energy Stations during lockdown, no curtailment except for grid safety reasons allowed (Read here)
- Clarification regarding payment of dues by discoms, obligation to pay within specified period (45 days or otherwise in PPA) remains, late charges at reduced rate applicable (Read here)
- Extension of six months in effective dates under Approved List of Models and Manufacturers (ALMM) Order concerning solar PV modules/cells (Read here)
- Effective date for implementation of Approved Lists of Models and Manufacturers of Solar PV Modules and Solar PV Cells extended by six months (Read here)
- Extension for RE Projects for a period of 30 days beyond lockdown (Read here)
For more information, please visit the Renewable Energy sector microsite.
Metals & Mining
India is home to 1,531 operating mines and produces 95 minerals – 4 fuel-related minerals, 10 metallic minerals, 23 non-metallic minerals, 3 atomic minerals and 55 minor minerals. India is the 2nd largest crude steel producer in the world, generating an output of 106.5 MT in 2018, a growth of 3.7% Y-o-Y. India’s steel consumption rose 7.5% Y-o-Y and 7.9% Y-o-Y over the last 2 years, outpacing a 2.1% to 5% growth globally.
“In these times of challenge, Coal and Mines Public Sector Undertakings (PSUs) are extending best possible support in fighting Covid-19,” said Shri Pralhad Joshi, Union Minister of Coal & Mines.
In this light, National Aluminum Company (NALCO) and Coal India subsidiary Mahanadi Coalfields Limited (MCL) will fully fund two dedicated COVID-19 hospitals in the mineral rich state of Odisha in fighting with the pandemic. Union Minister of Petroleum and Natural Gas and Steel Shri Dharmendra Pradhan announced a contribution of over INR 500 cr by Indian steel sector towards the PM-CARES fund in wake of fight against the threat of Covid19 pandemic.
Immediate relief announced by Government of India for this sector are as follows:
- Helpdesk in the Ministry of Steel has been formed for taking up issues raised by various stakeholders including secondary steel producers. (Read here)
- Order for extension of date of enforcement of 12 Indian Steel Products Standards has been enforced. (Read here)
- Appointment of Nodal Officers in the Ministry of Coal to respond the queries raised by various stakeholders/consumers/outside agencies during the period of lockdown due to COVID-19. (Read here)
- Relaxation from the submission of notices, returns and forms required under the provisions of different rules and regulations framed under the Mines Act, 952. (Read here)
Other schemes in implementation for boosting this sector are as follows:
- National Mineral Policy 2019: In March 2019, the Indian government came up with a new National Mineral Policy (NMP), replacing the earlier 2008 policy.
- The policy aims to increase the production of major minerals by 200% and reduce trade deficit by 50% in seven years
- It aims to attract private investment through incentives like financial package, right of first refusal at the time of auction etc. or any other appropriate incentive according to international practices.
- A key proposal introduced in the NMP is the creation of “Exclusive Mining Zones”.
- National Steel Policy 2017: The National Steel Policy 2005 (NSP 2005) sought to indicate ways and means of consolidating the gains flowing out of the then economic order and charted out a road map for sustained and efficient growth of the Indian steel industry. However, the unfolded developments in India as also worldwide, both on the demand and supply sides of the steel market, have warranted a relook at the different elements of the NSP 2005.
- Vision: To create a technologically advanced and globally competitive steel industry that promotes economic growth.
- Mission: Provide environment for attaining –
- Self-sufficiency in steel production by providing policy support & guidance to private manufacturers,
- MSME steel producers, CPSEs & encourage adequate capacity additions.
- Development of globally competitive steel manufacturing capabilities
- Cost-efficient production and domestic availability of iron ore, coking coal and natural gas
- Facilitate investment in overseas asset acquisitions of raw materials.
- Enhance domestic steel demand.
For more information, please visit the Metals & Mining sector microsite.
Initiatives and Incentives by State Governments
The unprecedented situation created by COVID–19 pandemic and lockdown announced by both the Union and state governments from March 24 has led to severe disruptions affecting the economy and impacting people at large. In order to mitigate the economic downturn caused by COVID-19, the following State Governments have also announced several measures to provide immediate relief to manufacturers/Industries across sectors as listed below:
| State | Special Incentives |
| Maharashtra |
Immediate relief provided by the state government in the wake of COVID 19:
Maharashtra – Electricity Regulatory Commission
For more information, please visit the Maharashtra microsite. |
| Karnataka |
Immediate relief provided by the state government in the wake of COVID 19:
The Karnataka Package Scheme for Incentives The policy has been notified with the objective of industrial growth rate of 12% to make manufacturing share of GDSP at 20%. Aim is to attract INR 5 lakh cr in Investments. The Package scheme of incentives includes Entry Tax Exemption, Interest Free Loan, Electricity Duty, Stamp Duty Exemptions and other non-fiscal incentives. (Read here) Aerospace Policy 2013-2023: The salient features of the Karnataka Aerospace Policy 2013-23 are as follows:
The various incentives attached to this policy can be found here. Electric Vehicle and Energy Storage Policy (2017): The salient features of the Karnataka Electric Vehicle policy 2017 are as follows:
The various incentives attached to this policy can be found here. ICT Policy: The objectives and various incentives attached to this policy can be found here For more information, please visit the Karnataka microsite. |
| Tamil Nadu |
Immediate relief provided by the state government in the wake of COVID-19:
Electric Vehicle Policy (2019): It is the vision of the Government of Tamil Nadu to attract INR 50,000 cr (INR 500 bn) of investment in EV manufacturing and create a comprehensive EV ecosystem in the State. Such investment is expected to create 1.5 lakh new jobs. The broad objectives of this policy are the following:
The various incentives attached to this policy can be found here. Automobile and Auto Components (2014): The objectives of this policy are as follows
The various incentives attached to this policy can be found here. Food Processing Policy (2019): The objectives of this policy are as follows
ICT Policy (2018): In order to promote Tamil Nadu as an ideal investment destination, the following strategies are planned
The various incentives attached to this policy can be found here. For more information, please visit the Tamil Nadu microsite. |
| Gujarat |
Immediate relief provided by the state government in the wake of COVID 19:
The New Industrial Policy (2015) aims at creating streamlined approval process, thrust for labour-intensive industry, technology-based industry. Defence and Aerospace: The objectives of the policy are to:
Various incentives of the provided by the Govt can be found here. Biotechnology: Policy Objectives:
The incentives provided to greenfield Biotechnology Park can be read here. Electronics: To establish Gujarat as a globally-recognized hub for the ESDM industry with a turnover of $16 bn by 2021 and an investment of $6 bn to create employment opportunities for 5 lakh people by 2021. The incentives would be provided to Electronics Industry can be read here. Garment and Apparel Policy: The policy aims at filling the gaps in Fiber to Fabrics, to Processing of Garments, Made-Ups, and also upto technical textiles. The policy also aims at achieving 100,000 jobs with an equal amount of investments. The policy details and various incentives can be found here. For more information, please visit the Gujarat microsite. |
| Uttar Pradesh |
Immediate relief provided by the state government in the wake of COVID 19:
Industrial Investment and Employment Promotion Policy of Uttar Pradesh (2017): The Policy aims at Enabling infrastructure, Employment generation, Ease of doing business, Innovation – Promoting Start-Ups and a sectoral approach to Industrial development. To attract maximum investment and maintain competitiveness of the industries in the State, the policy will provide following fiscal incentives, subsidies and concessions on certain terms and conditions. The details of which can be found in this link. Uttar Pradesh Electronics Manufacturing Policy 2017 The main objectives of the policy is to
The policy targets to attract investment of INR 20,000 Crores in ESDM sector and generate employment for 3,00,000 manpower by the year 2022. The Uttar Pradesh Food Processing Industry Policy-2017: Following industries will be the part of the food processing industries :-
Fiscal Grants and concessions provided under this scheme can be found here. Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy 2019 The policy contains 3 components: -
Objectives:
Policy Targets
Other grants and fiscal incentives provided under this policy can be found here. For more information, please visit the Uttar Pradesh microsite. |
| Telangana |
Immediate relief provided by the state government in the wake of COVID 19: For Pharmaceuticals and Life Sciences
Electronics and Electrical Machinery
Handlooms and Textiles
Important Links:
Other measures undertaken by the state government in the wake of COVID-19 are as follows:
For more information, please visit the Telangana state microsite. |
Invest India Business Immunity Platform
Designed as a comprehensive, 24*7 active resource to help businesses and investors get real-time updates on India’s active response to COVID-19 (Coronavirus), Invest India has launched the ‘Invest India Business Immunity Platform’ which can be accessed here.
