Delhi govt unveils draft industrial policy to tackle red tape, attract investments
The draft policy noted that the Capital's business environment suffers from 'significant regulatory inefficiencies' — including lengthy 4-6 month registration and licensing processes, multiple agency approvals, bureaucratic 'delays', 'corruption', and complex tax policies. This hinders businesses, especially SMEs, discourages FDI, and slows infrastructure development.
'To address this, Delhi must leverage AI-driven automation, digital governance, and investor-friendly frameworks to create a seamless and transparent economic ecosystem… so that Delhi can transform into a highly efficient and business-friendly hub, attracting investments, boosting employment, and accelerating economic growth,' reads the policy.
The Industries Department has sought comments from the public and stakeholders on the draft.
The steps recommended by the draft policy included implementing single-window business registration portals with blockchain verification for automated approvals and real-time tracking, inspired by Singapore's BizFile+ and Estonia's e-Residency.
Enhancing regulatory transparency through blockchain-based systems to prevent manipulation and delays, as was in Dubai's Blockchain Strategy, accelerating commercial expansion and infrastructure development with one-stop digital approval systems and intimation-based regimes like Hong Kong's E-Submission Hub, were also suggested in the draft policy.
'The policy aims to harness the city's skilled human capital, create quality employment opportunities, and ensure inclusive, sustainable economic growth, while making optimal use of Delhi's limited land and environmental resources,' said officials.
Under this policy, the government also aims to set up a Rs 400-crore venture capital fund. There are also plans to provide reimbursement of 50% fixed capital investment (including land) for five years for businesses in frontier-tech sectors up to a maximum limit of Rs 50 crore per project.
In addition, there will be a 6% interest subsidy per annum for the first five years; reimbursement of 100% state GST for five years; 100% reimbursement of patent filing up to Rs 5 lakh per patent; and exemption of 50% on wheeling charges and transmission charges, on interstate purchase of power, reads the draft policy.
Industrial areas in Baprola, Rani Khera and Kanjhawala have been earmarked for development of the frontier-tech services sector.
Further, to boost the hospitality sector, the policy recommends permitting hotels and serviced apartments as part of commercial centres in industrial zones.
The government has proposed a series of targeted interventions, including increasing hotel rooms near locations like ITPO at Pragati Maidan and Yashobhoomi for the hospitality sector under its policy.
'Facilitate the PPP model for developing tourism infrastructure at government facilities… Make Delhi a restaurant and bistro-friendly city with streamlined compliance and regulatory burden, and a reasonable alcohol policy,' reads the draft.
An 'inter-departmental committee' will be formed to serve as a recommendatory body to the Cabinet for sanction of incentives across various sectors. A high-level review and monitoring committee will be constituted to monitor the implementation and progress of all the policy provisions regularly, said officials.
Officials said the subsidies will be sanctioned by the Commissioner, Industries.
Further, the draft policy recommends holding a Global Investor Summit and other events for promotion of the policy and industrial development in Delhi.
There are a total of 32 planned and 27 unplanned industrial areas and 4 flatted factories in Delhi.
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