Best Business Opportunities in Haryana - Identification and Selection of right Project, Thrust areas for Investment, Industry Startup and Entrepreneurship
Why start your own Business?
Entrepreneurs get the freedom to set their own hours. Once the firm is established and you have staff performing the majority of the essential duties, you will be able to spend more time with your family and friends. Rules aren't going to be set by anyone else.
You have the ability to formulate your surroundings. You have control over the formality and culture of your company. You can meet new individuals and network with other professionals and entrepreneurs. You can create jobs and boost the economy by providing new work opportunities. Your children or grandchildren can inherit your established business.
What are the Advantages of Starting Business in Haryana;
Haryana's Ease of Doing Business;
Due to the government's business-friendly policies, Haryana is ranked third in 'Ease of Doing Business.' In terms of ease of doing business, Haryana topped the Northern States. The Haryana government has encouraged entrepreneurs to invest in the state. Entrepreneurs, on the other hand, praised the state government for providing a variety of services, including a system for issuing various sorts of No Objection Certificates (NOCs) in a timely way, an online application system, and appropriate electrical supply.
All 301 reforms requested by the Business Reform Action Plan(2020-21) have been accomplished by the state. Land registration, approval of building plans, approval of local bodies, electricity and water (useful services) connections, contract enforcement, creation of single-window desks, strengthening of investment facilitation helpdesks, area-wise licenses, and many other approvals comprise these improvements. Furthermore, the state completed all 45 reforms outlined in the District Reform Action Plan - 2019.
Initiatives by the Government;
The Industrial and Investment Policy of 2011 provides a wide range of economic and policy incentives for enterprises. It also includes sector-specific policies, particularly in the IT and tourist sectors. The Haryana State Industrial and Infrastructure Development Corporation Ltd (HSIIDC) is the state's principal industrial development and investment facilitation organisation, responsible for ensuring that entrepreneurs investing in the state have access to reliable and efficient facilities.
Haryana's cumulative Foreign Direct Investment (FDI) inflows were US$ 1.7 billion in FY21 and US$ 2.42 billion between October 2019 and March 2021, according to the Department for Promotion of Industry and Internal Trade (DPIIT).
To achieve consistent economic growth, the state has taken many initiatives to develop industrial infrastructure.
A New Industrial Policy termed Haryana Enterprises and Employment Policy - 2020 has also been introduced to foster an investment-friendly environment. Its goals include
● creating 5 lakh employment,
● attracting Rs 1 lakh crore in investment,
● doubling exports to Rs 2 lakh crore, and
● amending several state legislation (Acts, Rules, and Guidelines) to make them more investor-friendly.
Ease of access to Finance Business in Haryana;
The State Government's "Scheme for Assistance for Startups in the State," notified under the provisions of its Haryana Enterprises and Employment Policy 2020, provides financial assistance in the form of a seed grant of up to Rs 10 lakh, a lease rental subsidy of up to Rs 5 lakh, and 100 per cent net SGST reimbursement for seven years, among other incentives, to encourage startups in Haryana.
For 100 companies in 'A' category blocks, 200 startups in 'B' category blocks, 300 startups in 'C' category blocks, and 400 startups in 'D' category blocks in the state, the government will award seed funding of up to Rs 10 lakh per startup under the scheme. The final authority on seed grant idea selection would be a five-member state government committee chaired by the Administrative Secretary, Haryana Department of Industries and Commerce.
There will also be a reimbursement of 30% of lease rental subsidies for general startups and 45 per cent for firms with sole women founders for one year up to Rs 5 lakh. The government has also agreed to grant an interest subsidy of 8% to startups registered in the state for a period of five years, up to a maximum of Rs 20 lakh per year.
Startups would be given financial assistance of up to Rs 2.5 lakh for national acceleration programmes and Rs 5 lakh for international acceleration programmes.
Mineral Reserves in Haryana;
The state owns the majority of the country's tin (64 per cent), quartz-silica sand (52 per cent), and quartzite resources (49 per cent).
The districts of Faridabad, Gurgaon, and Rewari have china clay; Ambala, Bhiwani, Mahendragarh, and Panchkula have limestone; quartz/silica sand is widely distributed in Faridabad, Gurgaon, and Mahendragarh; quartzite is found in Faridabad and Gurgaon districts, and slate is found in Mahendergarh and Gurgaon districts.
The Agriculture in Haryana;
Haryana was a prominent player in the grain production industry. Haryana's total food grains grew dramatically after the Green Revolution. Haryana's main Kharif crops include rice, jowar, bajra, maise, cotton, jute, sugarcane, sesame, and groundnut. Gram, wheat, and barley are the main Rabi crops. Over 60% of India's Basmati rice exports originate in Haryana, which is the second-largest contributor of food grains to the central pool. The state government's 'Horticultural Vision' intends to increase horticulture acreage from 7.5 per cent to 15 per cent and triple horticulture production by 2030.
Haryana's Automobile Industries;
Haryana is a leading state in industrial production, particularly passenger cars, two-wheelers, mobile cranes, and tractors. As well as being the third largest exporter of software, it is also one of the most popular destinations for the IT/ITeS sector.
Automakers and auto-component manufacturers desire to locate in Haryana. The state is home to a slew of auto companies. The state produces two-thirds of all passenger automobiles, half of all tractors, 60% of all motorcycles, and half of all refrigerators in the country. Exports of automobiles and auto components from Haryana rose from US$ 1.070.3 million in FY20 to US$ 618.7 million in FY21.
Infrastructure in Haryana;
Special economic zones (SEZs), the Kundli-Manesar-Palwal (KMP) global corridor, and the Delhi-Mumbai Industrial Corridor were among the state's investments in the creation of world-class infrastructure.Haryana, in North India, has a vast network of around 34 National Highways (NH) with a total length of 2,484 kilometres, 11 Expressways, including three National Expressways, State Highways (SH) with a total length of 1,801 kilometres.
The Railways in Haryana;
The rail network in Haryana, India, is divided into five rail divisions and three rail zones:
● Region of the North Western Railway (Bikaner and Jaipur railway divisions)
● Railways in the northern zone (Delhi and Ambala divisions)
● North Central Railway zone (Delhi railway division and Ambala railway division) (Agra railway division)
Haryana is served by the Diamond Quadrilateral High-Speed Rail Network's Eastern Dedicated Freight Corridor and Western Dedicated Freight Corridor.
How to Start a Business in Haryana;
Steps for Registering a Business in Haryana online;
Please check for name availability as a first step.
To find the firm name, follow the screen prompts and hit search. Applicants must check if the submitted name is already registered using various name combinations.
Once you have the name you want, you may download the application form.
Applicants can use the online services to clear up any questions they have about the firm registration process.
Applicants can register their business at https://www.mca.gov.in/content/mca/global/en/contact-us/roc.html. Select the MCA SERVICES menu from the provided page. This menu contains a selection of alternatives to meet the needs of the applicants. Select the appropriate services from the online menu.
The applicant must register with the registrar of companies.
Below are the Requirements;
Applicants, shareholders, and directors must provide self-attested copies of all relevant documents.
The registration above is for two Indian directors, two Indian shareholders, and a maximum authorised capital of Rs. 1,00,000/-. There will be an increase in government charges for extra directors, shareholders, or share capital.
The Ministry of Company Affairs has complete authority over company name approval and availability.
Shareholders must deposit a sum equal to share capital in the company's current bank account at the time of incorporation.
Within 180 days of its incorporation, every firm must get a business certificate [COB].
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