Plan to set up State Investment Promotion Board, Investment Promotion and Facilitation Cell

The Kerala Assembly on Tuesday referred to the subject committee the Kerala Industrial Single Window Clearance Boards and Industrial Township Area Development (Amendment) Bill, being amended for constituting a State Investment Promotion Board, an Investment Promotion and Facilitation Cell, and an Investment Promotion Monitoring Committee.

The State Investment Promotion Board, headed by the Chief Minister, is aimed at resolving the difficulties that may arise while implementing the industrial policy and taking a coordinated decision for allowing relaxations declared in the industrial policy. It will also decide on the packages to be granted in special circumstances, in addition to the relaxations declared in the industrial policy, as well as the measures to revive the industries that existed on the land acquired for industrial purpose and to start industries, including new-generation ones, on such land.

The board will also work to bring consensus among various departments so as to facilitate the setting up of enterprises by large-scale investors.