Ranchi: The state government is contemplating to attract investment from private companies to set up an industrial park and logistics hub in Jharkhand. The state cabinet approved the draft on 29 September Jharkhand Industrial Parks and Logistics Policy of 2022.
Effective for the next five years, the policy aims to boost industrial infrastructure in Jharkhand by providing financial subsidy up to Rs 75 crore to private players to set up industrial parks.
The policy document states that any private company or a joint venture (a group of public companies or between public entities and the government) may submit its proposal and master plan for approval to the Single Window Committee of the Industries Department for setting up an industrial park. will be eligible for
Players can form Special Purpose Vehicle (SPV) and buy land directly from ryots (landlords) or government land allotted by Jharkhand Industrial Area Development Authority (JIADA).
Developers will have to reserve 60% of the developed land of their parks for industrial units and 40% for MSME units and allot plots to industrial units on long-term lease basis.
Subsidy for industrial parks in new policy
Under Section 49 of the Chotanagpur Tenancy Act, 1908, the Deputy Commissioners of the respective districts will allow the transfer of land within 60 days from the date of receipt of the application.
“50% of the project cost up to a maximum of Rs 40 crore will be given as subsidy to developers by the government,” the draft policy said. The policy provides for subsidy for industrial parks that have an area of more than 10 acres, which can accommodate a minimum of five industrial units and developers have to complete their projects within six years.
In the case of logistics parks, the policy promises 50% of the project cost, reimbursement on interest subsidy, 100% stamp duty and registration fee waiver and skill development training for up to 100 employees, which is Rs 13,000 per employee. Domicile of Jharkhand (as per upcoming local policy).
City-based entrepreneur and Jharkhand Small Industries Association president Philip Mathew said: “At first glance, there seems to be a bottleneck as the single window system in Jharkhand is non-functional. The single window system cannot issue pollution certificates, factory licences, electricity connections. And other material. The idea behind time bound disposal of applications by DC is welcome. We are studying the document in detail and only then will be able to comment further.”
Effective for the next five years, the policy aims to boost industrial infrastructure in Jharkhand by providing financial subsidy up to Rs 75 crore to private players to set up industrial parks.
The policy document states that any private company or a joint venture (a group of public companies or between public entities and the government) may submit its proposal and master plan for approval to the Single Window Committee of the Industries Department for setting up an industrial park. will be eligible for
Players can form Special Purpose Vehicle (SPV) and buy land directly from ryots (landlords) or government land allotted by Jharkhand Industrial Area Development Authority (JIADA).
Developers will have to reserve 60% of the developed land of their parks for industrial units and 40% for MSME units and allot plots to industrial units on long-term lease basis.
Subsidy for industrial parks in new policy
Under Section 49 of the Chotanagpur Tenancy Act, 1908, the Deputy Commissioners of the respective districts will allow the transfer of land within 60 days from the date of receipt of the application.
“50% of the project cost up to a maximum of Rs 40 crore will be given as subsidy to developers by the government,” the draft policy said. The policy provides for subsidy for industrial parks that have an area of more than 10 acres, which can accommodate a minimum of five industrial units and developers have to complete their projects within six years.
In the case of logistics parks, the policy promises 50% of the project cost, reimbursement on interest subsidy, 100% stamp duty and registration fee waiver and skill development training for up to 100 employees, which is Rs 13,000 per employee. Domicile of Jharkhand (as per upcoming local policy).
City-based entrepreneur and Jharkhand Small Industries Association president Philip Mathew said: “At first glance, there seems to be a bottleneck as the single window system in Jharkhand is non-functional. The single window system cannot issue pollution certificates, factory licences, electricity connections. And other material. The idea behind time bound disposal of applications by DC is welcome. We are studying the document in detail and only then will be able to comment further.”