Industrial project advisor and consultant in Haryana

Haryana is a small state located in the northern section of India near Delhi. Since its creation in 1966, Haryana has become India’s fastest growing state, offering its citizens the third highest per capita income of Rs.12,158. Agricultural development in the state has been tremendous. It was the first state in northern India to introduce crop insurance scheme. It is also known as the ‘milk pail of India’. The Land area of Haryana is about 44,212 sq. km and has a population of 16.5 million. 

Haryana has fast developed into an industrial state, where already 200 projects having foreign technical collaboration have been set up and a number of other project proposals have been received from several multinational companies, big Indian industrial houses and leading NRIs. The Inflation Rate in Haryana is 14.1%. 

Haryana has well maintained and extensive road networking to all markets and proximity to to the country’s largest markets for goods and services. It maintains goods infrastructure with adequate length of railway tracks good telecommunications network. Unfortunately, the deficient power supply, frequent rationing and prohibitive power tariffs and the corrupt local administration are hindrance to its development.

Incentives:

• Investment subsidy of 25% (up to Rs 200,000) of fixed capital for tiny units.
• Sales tax exemption up to 150% of fixed capital investment for small-scale units in Zone A.
• Sales tax exemption up to 125% of fixed capital investment for medium-scale units in Zone A .
• Sales tax deferment of up to 175% of fixed capital investment for small-scale units in Zone A.
• Sales tax deferment of up to 150% of fixed capital investment for medium-scale units in Zone A.
• Exemption from payment of octroi by new units in Zone A (9 years) and Zone B (7 years).
• 50% subsidy (up to Rs 1,200 per set) on the cost of captive generating sets for small-scale units.
• Exemption from payment of electricity duty (up to 5 years) for new industrial units.

In the backdrop of the national resolve to strive for a high economic growth rate and to spread its benefit across to all sections of the society, the present Industrial Policy initiative intends to capture the buoyant mood and supplement the efforts of the Central Government. The areas sought to be addressed therefore have a synergy with the policy initiatives of the Central Government and the national priorities. As far as possible a seamless integration of State and National agenda will be the focus of the State Government. The state proposes to reposition itself as the most preferred destination of economicactivity by building on its natural advantages of location, strong agricultural base, law and order, well developed basic infrastructure, industry and commerce.

IP 1992 announced in tandem with the economic reforms brought out by the Central Government was an incentive centric approach to attract investment. IP 1997 adopted infrastructure led approach to industrial development. IP 1999 aimed at promoting industrial growth in the context of overall economic value addition with emphasis on infrastructure development through private initiative.Indian economic upsurge has thrown open global opportunities for businesses to expand taking advantage of an enormous young workforce, potential of frontier technologies, national capabilities in assimilation of technological advancements, and outreach to a strong domestic market. IP 2005 seeks to capture these opportunities, leveraging the strengths of the State in agriculture and its established comparative advantages in manufacturing, for promotion of investment and taking industry to front ranks of global competition. This would to be achieved through creation of an efficient, investor friendly environment and supported by coordinated development of infrastructure and sunrise areas. Benefits of a strong growth of economy are sought to be dispersed across the state and sectors.

If you want to start your new business in haryana state then you can take help of industrial consultants. They can help you in easy set up of industries.