Nod to Haryana aerospace and defence production policy

THE POLICY AIMS TO ATTRACT INVESTMENTS OF AT LEAST ONE BILLION DOLLARS, SAY OFFICIALS

CHANDIGARH: The cabinet accorded its approval to Haryana Aerospace and Defence Production Policy, 2022 that aims to attract investments of at least one billion dollars and generate employment opportunities of around 25,000 persons in five years and to position the state as country’s leading aerospace and defence manufacturing hub.

The policy envisages harnessing Haryana’s inherent strength in auto components and automobile manufacturing sector that looks forward to a possible transition into aerospace and defence manufacturing. The policy will also address the need of creating world-class maintenance, repair and overhaul (MRO) facilities in Haryana. The state government will facilitate and incentivise the proposals for setting up of new MRO facilities at existing airports or at new locations in Haryana.

The policy places a special emphasis on development of the MSME sector and its business growth. It envisages bringing up a paradigm shift from being a regulator to a facilitator of MSMEs. Among the fiscal incentives offered under the policy are net SGST reimbursement for a certain duration, capital subsidy, employment generation subsidy, stamp duty reimbursement, 100% electricity duty exemption for 10 years, etc. To ease the regulatory burden on the investor and strengthen ease of doing business, the Haryana cabinet on Friday approved the Haryana Enterprises Promotion (Amendment) Rules, 2021 for implementation of reforms proposed in the Haryana Enterprises and Employment Policy (HEEP), 2020.

As per the approved regulatory reforms of the policy, micro, small and medium enterprises (MSMEs) will be given all requisite business clearances within 15 days, beyond which, there will be a provision for automated deemed clearance on the HEPC portal. The cabinet also approved a policy allowing regularisation of illegally subdivided plots and permitting plot owners to rationally subdivide originally allotted plots. Contractors willing to work in Haryana will have to register on the HEW portal to get exemption from EMD.