With eye on business houses, UP to set up investment cell
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As various business houses had shown interest in making investment in Uttar Pradesh during the Global Partnership Summit held in Agra last month, the state government is going to set up an Investment Promotion Cell (IPC) to coordinate with these companies and provide them a cordial working environment.
The government has planned the IPC on the lines of such bodies in Gujarat, Madhya Pradesh and Rajasthan, which have given good results by attracting investment. INDEXTb is one such body in Gujarat that also supports the state government in organising Vibrant Gujarat, an annual summit organised to display strengths, progressive policies, the investment-friendly climate and culture of the state.
Sources said that the Infrastructure and Industrial Development Department (IIDD) has prepared a proposal for setting up the cell and it is likely to be placed before the Cabinet at its next meeting.
"The proposal of establishing an IPC is part of strengthening Udyog Bandhu that will provide an investment-friendly environment to business houses in the state," said Kaushal Raj Sharma, Joint Executive Director of Udyog Bandhu, which works for industrial promotion.
The cell will have experts from private as well as government sectors, who will coordinate with the investing companies, and assist them in obtaining clearances from different departments. Management and investment professionals from private sector would be hired. Some staff of the Industry Department will also be trained for the cell.
The cell will also inform the companies about the state's investment policy, related government orders, available investment incentives, availablility of land and other facilities.
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