Lieutenant Governor A. K. Singh on Wednesday reaffirmed that the Puducherry Government’s industrial policy remained aligned to the goal of removing existing barriers and ensuring hassle-free investment climate to boost investor confidence.
The proposed simplified, time-bound e-portal licensing mechanism would encourage entrepreneurs to set up enterprises within a stipulated time-table.
The industrial policy is also expected to catalyse business opportunities in manufacturing, especially in the MSME sector, in line with the Central Government’s flagship ‘Make in India’ programme, the Lt. Governor said.
Outlining pro-industry measures, Mr. Singh said an Industrial Guidance Bureau envisaged as a single window mechanism had already started functioning to facilitate entrepreneurs getting clearances from departments/agencies in a time-bound manner.
The Government will establish the Institutional Mechanism Forum which would house in one office all relevant officers empowered to approve applications and issue clearances, he said.
The Lt. Governor pointed out that Puducherry was home to about 77 large and 8,863 MSME units with a combined investment of Rs. 2,858.41 crore.
The Government, he said, was also seeking a Rs. 100 crore grant from the Ministry of MSMEs for implementing the proposed Credit Guarantee Scheme to enable entrepreneurs to avail of collateral free credit facilities of up to Rs. 1 crore under a ‘Credit Guarantee Fund for MSMEs’.
