IMLC developed along the Ganga Expressway is becoming a big industrial hub of UP. Here investors are getting benefits like 42% capital subsidy, SGST reimbursement, 100% stamp duty exemption and PLI top-up, making investment easy and cheap.
Lucknow. The Integrated Manufacturing and Logistics Clusters (IMLC) being developed along the Ganga Expressway are no longer just an infrastructure project, but are fast emerging as a high-incentive industrial corridor. Facilities like subsidies, tax exemptions, single window system and PLI top-up provided by the Yogi government have turned it into one of the most attractive industrial areas of the country for investors. With these schemes, the cost of setting up industries is reducing and doing business is becoming easier.
Capital Subsidy and SGST Reimbursement: Major reduction in investment cost
Industries investing in Ganga Expressway IMLC are getting big benefits under the Uttar Pradesh Industrial Investment and Employment Promotion Policy 2022. Capital subsidy up to 42% is being given on eligible investment (ECI). Additionally, manufacturing units enjoy the benefit of 100% net SGST reimbursement (up to 300% of ECI). This significantly reduces the burden of initial investment and makes the project more economically sound for the industries.
Investment boosted by FDI, land subsidy and stamp duty exemption
The state government is providing special facilities to attract foreign investment (FDI). Up to 80% front-end land subsidy and up to 35% capital subsidy is being given on government land. Also, setting up an industry in IMLC provides 100% stamp duty exemption at the time of land registration. This significantly reduces the cost of purchasing land and setting up an industry.
Power, Green Energy and R&D Incentive: Promotion of modern industries
Emphasis has also been placed on energy and innovation to accelerate industrial growth. FDI and Fortune Global 500 companies get 100% electricity duty exemption for 5 years. An incentive of up to ₹ 2.5 crore (up to 50%) is being given to promote green industry. A grant of up to ₹ 10 crore is available for Research and Development (R&D), which will promote new technology and innovation.
‘Nivesh Mitra’ Single Window System: Easy and transparent investment process
‘Nivesh Mitra’ single window portal has been strengthened to simplify the investment process. More than 500 online services are available on this platform, including land allotment, permissions and incentive tracking. Due to this, investors do not have to visit different departments and save time. Additionally, industries established in IMLC also get an additional top-up of up to 30% with the PLI scheme of the Central Government. This makes the manufacturing sector more competitive and attracts larger investments.