Chandigarh (Haryana) [India], January 11 (HBTV): The Haryana Cabinet, chaired by Chief Minister Nayab Singh Saini in Chandigarh on Saturday, approved the extension of the Haryana Logistics, Warehousing & Retail Policy, 2019, along with its associated schemes, until the notification of the new Haryana Logistics, Warehousing & Retail Policy.

The 2019 policy provides various fiscal incentives to reduce the cost of doing business and promote investments in Haryana's logistics, warehousing, and retail sectors. Units under the policy benefit from incentives such as capital investment subsidy, interest subsidy, stamp duty reimbursement, external development charges (EDC) reimbursement, and electricity duty exemption, along with support for capacity building, according to an official release.

The policy emphasizes simplifying regulatory laws and procedures for these sectors. It aims to establish quality, cost-competitive multimodal logistics and warehousing infrastructure, as well as retail-oriented infrastructure. Additionally, it seeks to foster human capital development through targeted initiatives to create a skilled labour pool for these sectors.

It also aims to attract private sector and public-private partnership (PPP) investments in logistics, warehousing, and retail, creating a robust ecosystem to support major industrial and infrastructure projects. The policy focuses on upgrading and adopting modern technologies within these sectors, the release noted.

The Department of Industries & Commerce is in the process of finalizing the Haryana Logistics, Warehousing & Retail Policy, 2024. The 2019 policy, initially valid for five years and set to expire on March 8, 2024, has been extended by the Cabinet until December 31, 2024, or until the new policy is approved, whichever occurs earlier.

(ANI)