Uttar Pradesh is taking the expressway to rapid development, and Ernst & Young (E&Y) will be helping along the way. Udyog Bandhu, the state government agency facilitating investment in infrastructure, industrial and service sectors, has engaged the consultant to study ways to promote investment and find methods to resolve issues facing entrepreneurs.
With this, UP follows in the tracks of Gujarat, Madhya Pradesh, Punjab, Karnataka and Maharashtra, which too have private consultants outlining blueprints for industrial development. E&Y is already coordinating with industry departments in Gujarat, Madhya Pradesh and Punjab to promote investments. Apart from E&Y, Arvind Kaul Associates was keen on the project.
According to a state industry department official, some entrepreneurs have faced trouble resolving genuine problems, due to which the state is losing out to competition. Many investors were unaware of the incentives and facilities on offer from the state government.
?We at Udyog Bandhu outlined the key performance indicators, in which timely and effective problem-solving and investment promotion in thrust areas of the state were felt to be crucial. In order to overcome these issues, Udyog Bandhu formulated a strategy to commission a study on these two major areas of operations in the state. The main objectives of the study will be to facilitate entrepreneurship by resolving problems pending with various departments in a speedy manner. It also will aim to create awareness among existing and prospective entrepreneurs about existing incentives and facilities,? the official said.
?We want to portray the state’s image as a forward-looking, friendly partner to the industry and for this, we realised that we need professional help in building ‘Brand UP’. It is only after we do this that we can hard-sell the state as a land of opportunities,? the official added.