Saturday, Jan 23 2021 | Time 19:05 Hrs(IST)
image
  • Punjab Cong MP lays foundation stones of Rs 74 4 lakh dev projects
  • Modi, Mamata jointly visit museum dedicated to Netaji in Kolkata's Victoria Memorial
  • Full dress rehearsal: COVID to cast shadow on R-Day Parade
  • AAP announces another list of 189 candidates in 17 local bodies for forthcoming MC elections
  • UK Prime Minister's TV spokeswoman self-isolates over virus fears – Reports
  • SMAT 2021: All players test -ve for COVID-19 before knockouts
  • Union Budget will be paperless; Finance Minister launches App
  • For R-Day 'Kisan Tractor Parade',AAP workers gather mass support on bikes across Punjab
  • PM pays tribute to Netaji Subhas Chandra Bose at Netaji Bhawan on 125th birthday
  • AAP holds motorcycle rallies across Punjab to mobilise people for R-Day 'Kisan Tractor Parade'
  • Mufti Sayeed wanted dignified homecoming of Kashmiri pundits: Mehbooba
  • Sri Lankan Health Minister contracts coronavirus
  • With Subway at Dakoha Rail Station on NH-44, traffic will be smooth & commuters safe:admin
  • UN cautions staff from travelling in Pakistan-registered airlines
  • Three die, one missing in Indonesia's Manado floods
Business Economy


UP is most preferred investment destination in country: Minister

Lucknow , Nov 20(UNI) Uttar Pradesh Infrastructure and Industrial Development minister Satish Mahana, on Friday said that Uttar Pradesh has emerged as one of the most preferred investment destinations due to the government’s policies that focus on 'ease of doing business’.
Addressing the webinar on Challenges in sourcing cheaper electricity for industries in Uttar Pradesh organized by FICCI, Mr Mahana said, “Uttar Pradesh is on a mission to attract investment, which will, in return, generate employment opportunities for the citizens.”
He said the Industrial Investment & Employment Promotion Policy of Uttar Pradesh 2017 was formulated with the vision to establish UP as a nationally and internationally competitive investment destination.
In the recent past, the state government has taken several initiatives to promote industries in the state. “The state jumped to number two position, from number 12, in terms of 'ease of doing business' in India,” he said.
"Post-COVID lockdown, industries today are facing pressure to reduce their operating costs and overcome economic contraction. The state government is working with industries to identify measures required to overcome these challenges and has also recently issued an Industrial Policy for reviving industrial activity in various parts of the region. “As electricity cost is one of the major input costs for manufacturing industries, industries in UP must explore all options to source competitive power available in the country,” said the Minister.
The Minister urged FICCI and industry members for a joint meeting on the current open-access situation to discuss the prospects and open doors for industries in UP by sourcing cheaper electricity supply system, which will be a win-win situation for both the industry and the government.
Speaking at the event, Mr Sharad Jaipuria, Chairman-FICCI UP State Council said, “Industries in UP need affordable power to reduce the input cost and this power should be competitive to keep the cost of the product competitive.” He further said that open access can help consumers to source electricity competitively instead of buying expensive electricity from local Discoms. “It allows consumers to buy electricity directly from power generators, traders, or exchange. Consumers need to pay certain open access charges as defined in appropriate regulations for using power networks,” said Mr Jaipuria.
Mr Anujesh Dwivedi, Partner, Deloitte highlighted the significance and need for cheaper power for manufacturing and how this can be enabled through open access. “To reduce cost and tackle economic slowdown post-COVID, existing industries need assistance to attract new investments into the state. Significant cost savings can be made by industrial consumers, by sourcing electricity from more competitive sources under open access,” he said.
Mr Manoj Gupta, CMD, MKU Ltd said, “Tariff and Non- tariff barriers should be relaxed to help industries contribute more to the GDP growth in the country. These tariffs put an extra burden on the cost incurred by industries to meet out its daily expenses. “Reverse metering system installed for a rooftop solar system at some industries in Kanpur and UP, which has been withdrawn must be re-introduced as it benefitted industries on a larger basis in tackling electricity cost,” he said.
Mr Rohit Bajaj, Head-BD, IEX said, there are various options of power procurement like long term, medium term, bilateral, and exchange. Exchange is the most preferred option for buying electricity globally with minimum prices. With the interventional of Ministry of Power and CERC, we have introduced the real-time power where one can buy power on an hourly basis. “Rationalisation of charges is the main need of the hour to tackle the post-COVID situation,” he said.
Mr Amar Tulsiyan, Co-Chairman, FICCI UP State Council said, UP is on a mission to attract investment to the state, which will not only increase the employment rate but also save the migrant workers. The industry welcomes the open access and we will submit a white paper on the same to the government at the earliest.
UNI MB JAL 2004
More News

Bullion Market closing rates

23 Jan 2021 | 3:25 PM

Chennai, Jan 23 (UNI) Following is the bullion markets
closing rate here today.

see more..

Budget 2021: Pivotal transformation for Agriculture growth in new normal

23 Jan 2021 | 12:52 PM

Kolkata, Jan 23 (UNI) The Indian agriculture sector accounts for close to 16 percent
of the country's GDP, uses nearly half the available land, consumes around 80 percent
of the freshwater resources, and engages almost 50 percent of the country's workforce,
according to Randhir Chauhan, Managing Director, Netafim India and Senior Vice
President, Netafim Ltd
Approximately 70 percent of the rural households still depend primarily on agriculture,
with close to 80 percent of farmers being small and marginal. Even though the recent
COVID-19 pandemic has posed challenges for most sectors of the Indian economy,
agriculture and allied activities demonstrated extraordinary resilience. The available
statistics amplify the potential of India’s agriculture sector to aid fiscal growth.

see more..

Self Storage India to launch first of four new NCR facilities on 1st February 2021

23 Jan 2021 | 12:41 PM

NEW DELHI, Jan. 23, 2021 /PRNewswire/ --Self Storage India, India's first self-storage company operating since 2013, is making a strong start in 2021 with a rollout plan which would see the launch of four new facilities within the National Capital Region before the end of the year. As a data and customer driven organization, the company interacted with customers and studied years of customer data to identify optimal locations for its expansion warehouses. The new warehouse is located directly on NH8 near Hero Honda Chowk. The facility offers smooth and easy access to customers from across Delhi and Gurgaon.

see more..

Demand for wider screen laptops & tablets grow with online learning taking precedence: Flipkart Insights

23 Jan 2021 | 12:35 PM

Kolkata, Jan 23 (UNI) With schools taking education online and the growing opportunities
for e-learning, students are also upgrading their education essentials to make the learning
process more intuitive and impactful.

see more..

Bullion Market opening rates

23 Jan 2021 | 10:26 AM

Chennai, Jan 23 (UNI) Following is the bullion markets
opening rate here today.

see more..
image