Uttar Pradesh okays industrial units on rented land

LUCKNOW: The state government has paved the way to set up an industrial unit on rented land as it has given its consent to issue a letter of comfort to this effect. However, the rider remains that the agreement must not be for less than 15 years.

In the Industrial Investment and Employment Promotion Policy -2017, the state government had made a provision to set up an industrial unit on rented land. But there was no mention of the lease period in this policy, which was proving to be a hindrance in setting an industrial unit on rented land.

Infrastructure and industrial development additional chief secretary Alok Kumar has issued directives to all divisional commissioners to issue a letter of comfort to set up industrial units on rented land.

The industries associations have been demanding this provi

sion with specific guidelines in the Industrial Investment and Employment Promotion Policy -2017.

“This provision will help set up industrial units on rented land. It is beneficial for those entrepreneurs who cannot initially invest a big amount in purchasing land to set up an industrial unit,” said Indian Industries Association president Pankaj Kumar.

In a bid to promote industrialisation, the state government has decided to ease the process of setting up an MSME unit in the

state. The government wants to ensure that an entrepreneur does not have to run from pillar to post to set up an MSME unit anywhere in the state.

The state government has issued directives for proper implementation of MSME Act 2020 as part of its ease of doing business policy in the state.

All divisional commissioners, district magistrates and officials associated with industry-related departments have been issued instructions to provide all assistance to an entrepreneur who wants to set up an MSME unit.