STATE CABINET APPROVES MODIFIED FILM POLICY
LUCKNOW: Ahead of Uttar Pradesh Investors Summit, the state cabinet on Tuesday approved the Uttar Pradesh Warehousing and Logistic Policy 2018.
Chief minister Yogi Adityanath presided over the meeting of state cabinet that also approved the modified film policy providing for incentives for film-making in all languages and to NRIs having roots in UP. The state government proposes to present the warehousing policy with an objective to achieve Compound Annual Growth Rate in the revenue in warehousing and logistic sector.
The policy to remain in effect for five years provides for incentives to investors in accordance with the provisions of Uttar Pradesh Industrial Investment and Employment Promotion Policy 2017.
As 100% Foreign Direct Investment has been allowed in logistic, services some major industrial groups have shown interest in developing logistic hub in the state. The policy provides for incentives to logistic park to be developed as multi-model hub in an area of 100 acre. Container freight stations/ international container depot developed in 10 acre area with an investment of Rs 50 crore would also be eligible for incentives. Warehousing facilities developed in 3 acre area with an investment of Rs 25 crore and cold chain facilties in one acre area with investment of Rs 15 crore would also be eligible for incentives.