UT up for support, facilities to young entrepreneurs | chandigarh | Hindustan Times
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UT up for support, facilities to young entrepreneurs

chandigarh Updated: Jan 25, 2014 10:10 IST
Vinod Kumar

In good news for young entrepreneurs, the Chandigarh administration's new industrial policy lays emphasis on providing facilitation and hand-holding assistance for those wanting to start an enterprise in the city. Experts have been advocating for a support system for young entrepreneurs and developing friendly environment for their growth.

To resolve the issue of multiplicity and red-tapism, the administration has stressed on simplifying the procedures. The draft of the policy talks about common application form to reduce paperwork and self-certification to be introduced for knowledge-based industries.

Besides that the policy has outlined other steps for making the process simpler for new startups, such as grant of environmental clearance to green category industries, including knowledge-based industries for 10 years, single-window committee meetings for removal of grievances of local entrepreneurs, creation of a business facilitation council, comprising members from industry associations, industries department, estate office, municipal corporation and Chandigarh pollution control committee with an authority to provide all clearance within prescribed time frame.

The council would also act as a hand-holding agency to guide young enterprises towards hi-technology and knowledge-based activities. The administration also aims at introducing corrective measures in the tax structure to boost the industry.

Common facility centre-cum-incubation centre

An entrepreneurship development centre in the form of common facility centre centre-cum-incubation centre will be developed by the administration on 11 acres in Industrial Area Phase 3, which will be equipped with research, development and testing facilities, and plug-and-play type incubation facility for the budding entrepreneurs.

Financial assistance

As per the draft of the policy, the administration, being the share holder of Delhi Financial Corporation, would provide soft loans to assist micro, small and medium enterprises. Delhi Financial Corporation is providing financial assistance to the industry and service sector in city in addition to other financial institutions.

Uninterrupted power supply

The administration has laid stress on providing quality and uninterrupted power supply and to have increase in power load after periodical assessment by the engineering wing. The new power connections would be released for industrial units as per demand within the specified time frame. The industrial units will be exempted from the preview of statutory power cuts restriction of peak load hours and weekly off power cuts.

Objectives of the policy

• To recognize and facilitate the industrial growth based on needs of industries
• To create congenial environment for the development of micro, small and medium enterprises
• To evolve an appropriate mechanism so as to promote industrial growth in the right perspective
• To maximise production and achieve higher productivity.
• To upgrade the technology level of the existing industries by providing them technical and financial support
• To promote export oriented and import substitute industries as well as marketing related industries
• To create industry friendly environment by simplifying rules and procedures
• To attract NRI and foreign investment by developing would class infrastructure
• To integrate and provide single window to smaller trades and provide facilitation support.