India is on the cusp of a key transformational journey. The country is regaining its position as the fastest growing large economy in the world and Uttar Pradesh being one of the largest state contributes a lot to the same. Our Indian Government is trying to boost the economy of nation by uplifting individual states at a time. Uttar Pradesh Government has formulated an organisation named “Udyog Bandhu”, which works to facilitate investments in sectors of Industrial and Services.
UDYOG BANDHU: THE PROJECT
Udyog Bandhu as the name suggests is “Friend of Industry”, is dedicated to facilitate investments in industrial and service industries. Udyog Bandhu is an IS/ISO 9001:2008 certified 3-tier (District level, Divisional level & State Level) devoted body of the Government of Uttar Pradesh. The initial idea behind this registered society was to bridge the gap between entrepreneurs and government which now works in coercion with external investments and government.
Udyog Bandhu aims at resolving different types of hitches of the existing and new industries, belonging to different departments of the government. The idea behind formation of Udyog Bandhu is to attract investment in the state of Uttar Pradesh. Economic growth is possible by the tool of business development and investment in the state, and to facilitate the same a state has to offer a smooth investment policy driver and facilitator. The investors need top-notch infrastructure and business environment to lead their business in to the state and benefit the people of the state with employment and economic growth.
UDYOG BANDHU: SCHEMES
There are several schemes of Udyog Bandhu, under which the work of the organisation is divided and structured. They are:
Investment Promotion Scheme: To promote the industrial investments, a state needs to have businesses and to begin the businesses one needs capital. Capital is needed from government banks and under the investment promotion scheme of Udyog Bandhu, the investors are availing interest free loans with a flexible tenure for repayment of the same.
PMEGP Scheme: PMEGP stand for Prime Minister’s Employment Generation Programme, which is a credit linked subsidy course controlled by the Ministry of MSME (Micro, Small and Medium Enterprises) Government of India. The scheme helps blooming the self-employment ventures and generate employment opportunities in both rural and urban areas. This also seizes the migration of rural youth to urban areas and thus a density equilibrium maintenance in also in progress.
Khadi & Village Industries Commission (KVIC), is the nodal organisation at national level for execution of the scheme. The scheme is being executed through KVIC, KVIB and District Industries centre at the state level.
UDYOG BANDHU: SERVICES
Investment Banking: Udyog Bandhu organisation takes care of the investment advisory for the industries and offers suggestion that work in the best interests of the industrial sectors. Some of the prominent offerings of the services are-
- Private Equity Placement
- Mergers & Acquisitions
- Corporate Restructuring
Equity Broking: Udyog Bandhu as an organisation provides equity broking services to individuals, institutions and corporates. The services also include trading and retail investments, automatic order placements for ETFs, mutual funds, and cash management as well.
Corporate Advisory: Udyog Bandhu also provides advisory and asset management services to the retail clients. It works in the interest of clients’ requirement with wide range of experience and market knowledge. Udyog Bandhu also helps the institutions and corporates execute the right capitalization strategy.
UDYOG BANDHU: POLICIES
The Udyog Bandhu community has devised multiple policies to help address different types of problems individually in an effective manner. Few of the noticeable ones are as follows:
- Industrial Investment and Employment Promotion Policy of Uttar Pradesh
- UP Electronics Manufacturing Policy
- Civil Aviation Promotion Policy of UP
- P. Solar Energy Policy
- P. IT and Start-Up Policy
- Handloom Power loom Silk Textile Garmenting Policy
- P. Warehousing & Logistics Policy
- UP MSME & Export Promotion Policy
- P. Food Processing Policy
And various other policies for Bio-Energy, U.P. Tourism, Film, OTS Policy, Act and Rules, Land Acquisition Policy of UP, Energy Policy, New Township Policy, UP SEZ (R) Policy, Biotech Policy, National R & R Policy, Reservation Policy, Building Regulation, Defence, Milk and Pharmaceutical policies are also formed to cater to each and every areas of development in the state of Uttar Pradesh.
Udyog Bandhu works as a single window nodal agency for all the applicants who want to setup their industrial units and getting the approval at a single point for entire state. Udyog Bandhu is doing everything possible to make the doing business environment transparent and viable for all. For this, a single window facility has also been installed for the investors known as “Nivesh Mitra”. A “help-Desk” is also setup for investor’s grievances and redressals, and maps to the difficulties of carrying out business.
Udyog Mitra is working with 360 degree services with the determination of setting up of businesses in the state and takes cover of all industrial approvals.