Keeping in mind the recent surge in entrepreneur’s interest to set up industry in the State, West Bengal Industrial Development Corporation is drawing up a comprehensive document consisting of policies on its approach to industrialization.
- Industrial Licensing Policy:
This policy has prepared for providing the industrial license to large and small industrial units for the manufacturing activity. Following industries are eligible to obtain industrial license:
- Industries reserved for the public sector
- Five industries of strategic, social or environmental concern
- Manufacture of items reserved for the small-scale sector by non small-scale industrial units or units in which foreign equity is more than 24%.
- Units located within 25 Kms of Standard Urban Area Limits of cities having a population of 1 million unless it relates to Electronics, Printing, Computer Software or any other notified non-polluting industry.
Industrial license is however compulsory for investing in the following five industries of strategic, social or environmental importance:
- Distillation and brewing of alcoholic drinks
- Cigars and cigarettes of tobacco and manufactured tobacco substitutes
- Electronic Aerospace and defense equipment: all types.
- Industrial explosives including detonating fuses, safety fuses, gunpowder, nitrocellulose and matches
- Hazardous Chemicals
- Foreign Institutional Investment Policy
Institutions incorporated or established outside India and making investments in Indian securities (shares, debentures, mutual funds, government securities etc.) are termed as Flls. They are allowed to invest both in primary and secondary markets subject to defined limits and are also required to be registered with the Securities and Exchange Board of India (SEBI) and comply with the exchange control regulations of the Reserve Bank of India (RBI). This policy has been prepared for facilitating NRIs to invest in Indian Securities.
NRls are allowed to invest in shares up to 5% of paid up capital of an Indian company and the total NRI holding cannot exceed 10% unless extended to a maximum of 24% by a General Body Resolution. Investments can be both on repatriation or non-repatriation basis.