Gujarat tops in total investment proposed under IEM

Ahmedabad, Feb 19 () The Gujarat government onWednesday said the state tops in the country in totalinvestment proposed under Industrial Entrepreneur Memorandum(IEM).

Gujarat alone accounts for 51 per cent of the totalinvestment proposed under IEM, while neighbouring Maharashtrais a distant second, a government release said here.

Out of the total Rs 6.78 lakh crore investmentproposed under IEM, Rs 3.43 lakh crore (or 51 per cent) was inGujarat, the release said.

Industrial undertakings exempted from the requirementsof Industrial Licencing under I (D&R) Act, 1951, are requiredto file information relating to setting up of industries inthe country is known as IEM.

IEM is registered under the central government'sDepartment of Promotion of Industry and Internal Trade(DPIIT).

The state government said the Gujarat figure is threetimes that of proposed investment under EMI in Maharashtra,which is number two in the list with Rs 1.15 lakh crore.

The release credited policies of the Gujaratgovernment for the surge in investment in the state.

However, the period of proposed IEM when theseintentions for investment were filed with the centralgovernment has not been given in the release.

All industrial undertakings exempted from therequirements of industrial licencing under I (D&R) Act, 1951,and having an investment of Rs 10 crore or above in the'manufacturing sector' and Rs 5 crore or above in the'services sector', are required to file an IEM, as per theportal of DPIIT.

The release said under the leadership of ChiefMinister Vijay Rupani, Gujarat is emerging as a favouritedestination for investment in the country. PDRSY RSY