Will Soon Launch Land Banks For Industry: Commerce and Industry Minister
Newsletter Week 31: (26 Jul-01 Aug’20)
On July 30th, Thursday, the commerce and industry minister Piyush Goyal stated that he will soon start a soft launch of land bank that is available in some states for industry and nearly 5, 00,000 hectares of area have been identified for the same.
The minister during a CII webinar on ease of doing business stated that the ministry is trying to create a virtual land bank portal through which a person can look at the land sitting anywhere with the help of Google earth maps. Any worries around availability of land are unfounded and there is enough and more land available all over the country for different industries.
On availability of credit, the minister has stated that they are working seriously with bankers and are giving strong assurances to provide adequate finance support to the industry. The finance ministry is looking at ways to ensure long term finance promoting investments.
He also pointed out that the signs of business revival are clear from the figures of import-export. India’s exports and imports are almost 88 per cent and 75 per cent of last year’s level respectively. Most of the restrictions that the government has placed temporarily to ensure adequate supplies of medical equipment, medicines, pharma products, surgical masks, and gloves in the wake of COVID-19 pandemic have also been eased.
Goyal further stated that the government is working on production-linked incentives for 12 major sectors with a plan to expand the horizon to as many as 20 sectors.