The Government of Uttar Pradesh has released a policy for processing foreign investment proposals. Under the policy, proposals would have to be processed for land allotment within a total of 22 days.
The evolution committee would have to process the foreign investment proposals in seven days and then an empowered committee would process the proposal within 15 days, according to Uttar Pradesh's new policy.
The Government of Uttar Pradesh has released a policy for processing foreign investment proposals. Under the policy, proposals would have to be processed for land allotment within a total of 22 days.
Moreover, the Government of UP also announced subsidies for the registration and stamp charges for foreign direct investments (FDIs).
Sharing the information, the Government of UP tweeted that this policy would be effective from November 1 and would be in force till October 31, 2028.
"Under the guidance of UP CM Mr Yogi Adityanath Ji, to promote foreign direct investments (FDIs) and Fortune 500 companies in the state, standard operating procedure (SOP) has been released. This would be effective from November 1 to October 31, 2028. Under this, all registrations would take place on 'Nivesh Mitra' portal. The process for taking subsidies from industrial development department has also been announced," said Government of UP in a tweet in Hindi.
Under the SOP of the UP government, an evolution committee headed by Invest UP's CEO would have to take a decision in seven days and then the proposal would go to an empowered committee which would have to approve or reject the proposal within 15 days, according to a report shared by Government of UP on Twitter. After this, the proposal would go for land allotment.
The Government of UP also announced rebates on registration and stamp charges in Western Uttar Pradesh, Bundelkhand, and Eastern Uttar Pradesh regions. In West UP's Gautambudh Nagar (Noida) and Ghaziabad, the rebate is 50 per cent; in rest of West UP, it's 75 per cent; the rebate is 100 per cent in Bundelkhand and East UP.