Haryana government has unveiled its new industrial policy that will run for next five years and offer liberal support for capital and operating expenses and top it up with reimbursement of up to Rs 1.2 lakh per annum for every state subject employed by the units.
Along with the overarching policy, the state has unveiled nine new sector-specific industrial policies covering electronics manufacturing, data centres, pharma, animation, global capability centres, IT, ITeS and Artificial Intelligence.
For companies locating their GCC, IT, ITeS, data centres outside Gurugram district, the reimbursement for capital and operating expenditure is pegged 20% higher on an average.
In the high investment sectors like electronics and pharma manufacturing the limit of capex reimbursement has been kept at Rs 200 crore per unit. A similar cap has been put on reimbursement of operating expenses with annual limit set at Rs 20 crore for 10 years.
For ultra mega and mega projects the state has promised a tailor-made package of incentives.
Through the policy the state aims to create 10 lakh jobs and attract total investment of Rs 5 lakh crore. The other aim of the policy is to double the merchandise exports from the state to 3.24 lakh crore from Rs 1.62 lakh crore.
On the day of launch of the policy by Haryana Chief Minister Nayab Singh Saini on Monday the investment Memorandum of Understanding (MoUs) worth Rs 1,1 lakh crore were signed, a Haryana government statement said.
The companies that signed the MoUs included NTF Group, AUMOVIO, Proterial, National Australia Bank (NAB) Global Innovation Center, Sumitomo Corporation India, Reliance MET City, Star Wire India, Saatvik Green Energy and India Cellular and Electronics Association (ICEA). Other showing interest in investing in Haryana included Gautam Solar, Venus Remedies, Varun Beverages, Horizon Industrial Parks, Anant Raj Limited, Welspun One, Star Cement, GLS Group, SMTA, Karnal Pharma Park, Universal Success Enterprises, RAKBANK, and Amber Group.