The Ministry of Commerce and Industry is fully involved in realizing Prime Minister Narendra Modi's 'plug and play' model to attract investors amid lockdown and corona crisis. Under this, changes can be made in the modified Industrial Infrastructure Upgradation Scheme (MIIUS). Unused land lying in special economic zones (SEZs) may be used for industrial production. Nodal departments and officers can be appointed to provide all kinds of approval to investors in a limited time. New provisions can be brought for approval in a limited time. On Thursday, Prime Minister Modi, in a meeting with his senior ministers, instructed to remove every obstacle in the path of industrial development and investment and bring a plug and play model.
For your information, let us tell you that there is a provision of a government grant of Rs 50 crore for developing industrial clusters under SIIUS. But the State Implementing Agency of the State Government does the work of developing such a cluster. Private developers do not have this facility. However, no new projects are being accepted under this scheme right now. Financial assistance is being given to the old project only.
The Ministry of Commerce and Industry can change this in MIIUS and give this opportunity to private developers as well. Recently, in a meeting with industrial organizations and Export Promotion Council, this suggestion was given to the Ministry on behalf of entrepreneurs. According to sources, the ministry is preparing for this change. Mohit Singla, chairman of the Trade Promotion Council of India (TPCI), said that under this type of scheme, private developers will get a chance to develop the infrastructure, they will develop a single product cluster, which is more likely to succeed. In order to set up a factory in normal condition, land has to be taken. Then, electricity, water, roads and other infrastructure facilities have to be developed there. Then production starts there. These work usually take two years and sometimes even more.
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