The government of India’s capital, Delhi, has approved a 10-year industrial policy.
It offers incentives to technology, data centre and healthcare firms.
A fund of 1,000 crore rupees is earmarked for a scheme for entrepreneurs.
Firms will get a payment for each new hire.
A dedicated agency will help investors.
IT and digital firms can receive up to Rs 10 crore for digital infrastructure, and women-led enterprises up to Rs 12 crore, according to the reports.
Global capability centres can receive up to Rs 50 crore for infrastructure, and women-led ones up to Rs 60 crore, according to the reports.
Healthcare projects can receive capital investment assistance of up to Rs 10 crore in general cases, and hospitals with at least 1,000 beds could qualify for up to Rs 100 crore, according to the reports.
Women-led enterprises get higher incentive ceilings, and employers hiring women will receive enhanced recruitment incentives, according to the reports.
Invest Delhi will function as a dedicated government agency to assist investors and promote investment, according to the reports.
The policy seeks to position Delhi as a hub for clean, technology-driven and knowledge-based industries, according to the reports.
The reports reviewed carried no reaction from industry bodies or opposition parties.
A capability centre is an offshore or in-house unit through which a global company runs functions such as technology, analytics or finance.
An industrial policy sets out incentives and rules to attract firms, and the details usually take effect after formal notification.
Delhi has limited land for large factories, so the policy’s focus on services, technology and precision manufacturing reflects the city’s constraints, as the reports describe the aim of clean and knowledge-based industries.
Eligibility rules, application procedures and timelines were not detailed in the reports.
Businesses should wait for the official notification for the final scheme details.
Secretariat Building, New Delhi (file image), Wikimedia Commons, CC BY 4.0
