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Last Updated : Feb 20, 2020 09:21 AM IST | Source: PTI

Gujarat tops in total investment proposed under IEM

Gujarat alone accounts for 51 per cent of the total investment proposed under IEM, while neighbouring Maharashtra is a distant second, a government release said here.

The Gujarat government said the state tops in the country in total investment proposed under Industrial Entrepreneur Memorandum (IEM).

Gujarat alone accounts for 51 per cent of the total investment proposed under IEM, while neighbouring Maharashtra is a distant second, a government release said here.

Out of the total Rs 6.78 lakh crore investment proposed under IEM, Rs 3.43 lakh crore (or 51 per cent) was in Gujarat, the release said.

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

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

The state government said the Gujarat figure is three times 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 Gujarat government for the surge in investment in the state.

However, the period of proposed IEM when these intentions for investment were filed with the central government has not been given in the release.

All industrial undertakings exempted from the requirements 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 the portal of DPIIT.

The release said under the leadership of Chief Minister Vijay Rupani, Gujarat is emerging as a favourite destination for investment in the country.

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First Published on Feb 20, 2020 08:47 am
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