New MSME and pharma policies to boost development in Haryana

The Haryana government approved new policies for MSME and pharmaceutical sectors on January 4 to boost the industrial growth and […]

Haryana MSME Policy 2019

The Haryana government approved new policies for MSME and pharmaceutical sectors on January 4 to boost the industrial growth and attracting investment in the state.The state cabinet approved the Micro, Small and Medium Enterprises Policy 2019, which aims to create globally-competitive MSMEs in the state. The objectives of the policy is to promote balanced regional development through geographical dispersal of industry, increase the competitiveness of the MSMEs through cluster development and adoption of quality manufacturing practices, facilitate MSMEs in accessing domestic and export markets, provide a conducive eco-system for promotion and growth of MSMEs in the thrust sectors of Haryana. These policies also enable access to finance to MSMEs, promote entrepreneurship through start up and incubation support, support for revival of sick enterprises and enhance competitiveness through ease of doing business.The new policy is in sync with major national initiative drives such as Make in India, Skill India, Digital India and Start-up India, and also takes cognisance of ease of doing business initiatives and reform measures taken by the central and state governments.Haryana has been divided into four categories of development blocks-A, B, C and D with varying degrees of industrial development under the policy. Category D has no large and medium enterprises but is being offered the best incentives to hasten the process of industrial development.The Cabinet has also approved the Haryana Pharmaceutical Policy 2019 aiming to attract investment in the pharmaceutical sector to the tune of ₹2,000 crore and generate 25,000 new jobs. The Haryana Pharmaceutical Policy is likely to establish a state-of-the-art Pharma Park at Karnal to develop Haryana into a hub for pharmaceutical manufacturing. As per reports, “the objective of the policy is to implement an enabling regulatory environment for pharmaceutical sector, with investor friendly and time-bound clearance delivery system, focus on holistic pharmaceutical cluster development, provide fiscal and non-fiscal benefits to units setting up in the Pharma Park, in a dedicated and streamlined manner.”The objectives of the new policy also include developing quality industrial infrastructure to support entrepreneurs in the state, provide land at subsidised rates to entrepreneurs for establishing pharma units, and effectively utilise the single-window clearance mechanism, providing clearances in a time-bound manner.In fact, in addition to incentives offered under the Haryana Enterprises Promotion Policy 2015, all new units setting up in the Pharma Parks in the State will be eligible for a special package of incentives.

Leave a Reply

Your email address will not be published. Required fields are marked *