Chandigarh: The Haryana cabinet on Wednesday approved the Haryana Enterprises and Employment Policy 2020.
The policy aims to establish the state as a competitive and favoured investment destination.
The cabinet, which met here under the chairmanship of Chief Minister M L Khattar, approved the new policy, which will come into effect from January next year, an official statement said.
The Haryana Enterprises and Employment Policy 2020 aims to achieve regional development and provide livelihood opportunities to its people through resilient economic development, it said.
The objective of the policy is to attract investment of over Rs 1 lakh crore and generate 5 lakh jobs in the state.
“The policy will focus on building a resilient economy on the back of robust industrial growth. It envisages leveraging opportunities arising out of changes in global economic order and align industrial growth in the state with national initiatives such as ‘Aatmanirbhar Bharat Mission’,” the statement said.
“The policy takes cognizance of emerging trends in supply chain, electric mobility, agri-tech, green manufacturing and climate change and healthcare and pharma and other new avenues for growth,” it added.
The policy emphasises the need for balanced regional growth across the state.
The state has been divided into four category blocks based on industrial development. ‘A’ category blocks comprise of industrially developed areas, ‘B’ category blocks comprise of areas of intermediate development, ‘C’ category blocks have industrially backward areas and ‘D’ category blocks comprise of industrially most backward areas.
Graded incentives will be provided in these category blocks (maximum in ‘D’ category blocks).
The policy places a special emphasis on development of micro, small and medium enterprise (MSME) sector and their business growth.
“It envisages bringing up a paradigm shift from being a regulator to a facilitator of MSMEs. The state government has undertaken several initiatives to assist the MSME sector in becoming globally competitive,” the statement said.
“The cluster development, enhancing market linkages and international collaboration, enhancing access to infrastructure and technology, regulatory simplification, infrastructure support and fiscal incentives are envisaged to provide an impetus to the growth of MSME sector in the state and to promote entrepreneurship,” it added.
To reduce the cost of doing business in the state and enhance industry competitiveness, the policy offers an array of attractive fiscal incentives to MSMEs, large, mega and ultra-mega enterprises, exporting units, thrust sector enterprises, essential sector enterprises, import substitution enterprises and identified service enterprises.
The policy will consider auto, auto components and light engineering, agro-based, food processing and allied industry, textiles and apparels, Electronic System Design and Manufacturing (ESGM), defence and aerospace manufacturing, pharmaceutical and medical devices, chemical and petrochemicals and large scale energy as thrust sectors with increase in emphasis and assistance.
To further promote the national movement of ‘Aatmanirbhar Bharat’, concession on land price may also be provided to eligible enterprises supporting import substitution.
In support of micro-enterprises for generating employment opportunities for youth at their doorstep in rural areas, the Haryana Gramin Udyogik Vikas Yojna will be introduced under the policy, it said.