Delhi is the capital of the Republic of India and also a state for administrative purposes. It is one of the largest metropolises in the country. Delhi shares its borders with the states of Uttar Pradesh and Haryana. It is the centre of international politics, trade, culture and literature in India.
With an economic growth rate of 9.3 per cent in 2013-14, Delhi is one of the fastest growing states of the country. The state government expects to register growth of 11 per cent to 11.5 per cent by the end of 2017. At current prices, the Gross State Domestic Product (GSDP) of Delhi was US$ 67.1 billion in 2013-14.
Delhi has an attractive real estate market and is a preferred tourist destination. Owing to its location, connectivity and rich cultural history, Delhi has always been a prime tourist attraction of the country. Delhi is a key arrival/departure point for both foreign and Indian nationals.
The Government of Delhi has been committed towards creating a progressive business environment. The new Industrial Policy 2010-21 aims to provide a conducive environment for knowledge-based and hi-tech IT/ITeS industries in Delhi. Towards this end, two special economic zones (SEZs) have been created in the NCT of Delhi. Furthermore, policies have been made towards the development of the IT and transportation sectors.
The Industrial Policy for Delhi 2010-21 aims to promote the state as a centre of knowledge-based industrial activity and envisages new development on a public-private partnership basis.
The government is also encouraging activities allied to industries, such as consultancy, information technology, training of skilled manpower through vocational training programmes and entrepreneurial development programmes.
Some of the major initiatives taken by the government to promote Delhi as an investment destination are:
- The Delhi government has set up a Business Facilitation Council (BFC) to facilitate single-window clearances from various departments for establishing industrial enterprises in a time-bound manner.
- Small-scale industries registration has been simplified and replaced by memorandum under MSMED Act 2006. Further, filing of the memorandum is optional for micro, small and medium manufacturing enterprises, and micro and small service enterprises.
- State Level Export Promotion Committee (SLEPC) has been constituted to draw export policy and action plan and approve infrastructure projects for financial assistance under Assistance to States for Developing Export Infrastructure and Allied activities (ASIDE) scheme of the Central Government.
- Delhi Development Authority has changed its land acquisition policy to develop housing. The new policy is based on the concept of land pooling, wherein the land owner transfers the land ownership rights to the designated land pooling agency.
The ICC Northern region has been working pro-actively towards creating a conducive and sustainable environment to enable social, industrial and economic growth of the state through policy advocacy and consulting services. ICC Delhi office has also taken various initiatives with a view to extend all possible services to our Members and Industry Players to enhance their competitiveness. The ICC Delhi Office has been active in building meaningful synergies among Industry and Government by addressing strategic issues of national and sub-national significance.