Assocham welcomes UP industrial policy

"Encouragement to public private partnership (PPP) for infrastructure development together with setting up of industry-specific clusters to provide basic facilities to the micro, small and medium enterprises (MSMEs), a single window clearance system...are certain laudable steps taken under the new policy," Chairman of the Northern Region Development Council of Assocham Lalit Khaitan said.

"By completely doing away with stamp duty on purchase, lease or acquisition of land for setting up industrial units in key regions, the young and dynamic chief minister is looking to live up to the industry's expectations to perk up the investment and job scenario in the state," Assocham General Secretary D S Rawat said.

Rawat added that "Iron and steel is yet another promising sector that would open up employment avenues for the huge youth population of UP and exemption from entry taxes is certainly a welcome step."

The dual schemes of capital interest and industrial quality development are also a welcome move as it would lead to speedy economic growth by setting up new industries across the state, Rawat said.