Haryana cabinet approves policies to woo investors - Hindustan Times
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Haryana cabinet approves policies to woo investors

By, Chandigarh
Jun 28, 2022 01:58 AM IST

Now, any startup entity recognised by the Union government’s department for promotion of industry and internal trade (DPIIT) will be eligible for fiscal and non-fiscal benefits under the new policy in Haryana, subject to various conditions.

The cabinet also approved the Haryana state start-up policy- 2022.

The Haryana cabinet meeting underway on Monday. (HT PHOTO)
The Haryana cabinet meeting underway on Monday. (HT PHOTO)

Now, any startup entity recognised by the Union government’s department for promotion of industry and internal trade (DPIIT) will be eligible for fiscal and non-fiscal benefits under the new policy, subject to various conditions. These benefits include subsidised incubation space, liberalised criteria for participation in Haryana government tenders, participation in mentorship events, and other startup specific programmes.

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An official spokesperson said this part of the policy will incentivise such startups to ultimately migrate to Haryana to take full benefits under the policy.

Presently, 3,910 Haryana-based startups (as of June 15, 2022) stand recognised by the DPIIT. A startup Haryana cell is being set up to oversee the implementation and other institutional activities of this revised policy.

“It is expected that at least 5,000 new startups would be established in Haryana over the next five years (within policy period) providing direct and indirect employment to 75,000 persons,” the spokesperson said.

Any data centre set up in Haryana with 1 MW and above of power consumption will be eligible for availing various benefits under the new policy. (HT Photo)
Any data centre set up in Haryana with 1 MW and above of power consumption will be eligible for availing various benefits under the new policy. (HT Photo)

Push for data-centres

The cabinet gave nod to a data centre policy with a view to make Haryana a global data centre hub and a preferred destination for the location of the data centre industry.

“Through this industry-friendly policy, the state government aims to create conducive business environment and facilitate establishment of 115-120 new data centres in Haryana. It is expected that investments of 7,500 crore would be made to establish these data centres,” said an official spokesperson.

Any data centre set up in Haryana with 1 MW and above of power consumption will be eligible for availing various benefits under the new policy.

Incentives to EV manufacturers, buyers

The cabinet approved Haryana Electric Vehicle (EV) Policy 2022 that encourages not only new manufacturing in EV technology but also encourages existing automobile manufacturers to diversify to EV-manufacturing domain. The policy offers various financial incentives to EV manufacturers by giving incentives on fixed-capital investment (FCI), net SGST, stamp duty, employment generation, etc. There is 100% reimbursement of stamp duty along with exemption in electricity duty for a period of 20 years. The SGST reimbursement will be 50% of the applicable net SGST for a period of 10 years. “The companies manufacturing electric vehicles, components of electric vehicle, EV battery, charging infrastructure etc. will be incentivised with capital subsidy,” the spokesperson said.

The policy offers incentives to buyers, while efforts will be made to convert 100% of bus fleet owned by Haryana state transport undertakings into electric buses or fuel cell vehicles or other non-fossil-fuel-based technologies by 2030, the spokesperson said. The cities of Gurugram and Faridabad will be declared as model electric-mobility (EM) cities with phase-wise goals to adopt electric vehicles (EVs), charging infrastructure to achieve 100% e-mobility.

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