Investment policy
Source: The Sangai Express
Imphal, March 14 2013:
With a view to attract attention of potential investors in the industrial sector in Manipur, Commerce and Industries Department has framed the Manipur Industrial and Investment Policy 2013 .
According to a reliable source, the new policy is quite liberal and the same policy would be tabled in a Cabinet meeting shortly for its approval.
The policy envisages acquisition of land at suitable areas for setting up industries and encourage promotion of investment in the State.
If any individual/firm wishes to set up micro or small scale industries in the State, they would not be charged any value added tax for the first seven years.
Certain similar relaxations would be given to those who wish to set up medium or large scale industries.
As for investors willing to invest in the State, 30 subsidy would be given against the total capital investment .
If the investor happens to be woman, the subsidy may be increased up to 40 per cent, according to the policy.
The policy further offers subsidy in power supply, informed the source.
According to the newly framed policy, clearance for setting up industries would be given by a committee headed by the Chief Secretary as chairman under a single window clearance system.
Meanwhile, Commerce and Industries Department has initiated renovation of Takyel Industrial Estate so as to revive.
The department is also mulling to seek necessary assistance in order to develop the estate to its full potential.