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With progressive liberalization of the economy, industrial licencing is needed in a few cases. Industrial Licence is regulated under the IDRA Act or Industries (Development and Regulation) Act, 1951 by the Central Government.
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The economic reforms program and the Government liberalization program aims at substantial and rapid economic integration and growth with the world economy in a harmonized way. The reforms of industrial policy have minimized the needs of industrial licencing, eliminated restrictions on expansion and investment, and facilitated easy access to foreign direct investment and foreign technology.
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The procedures and process of Industrial Licensing in India include making changes at the institutional level and the entry gates to cover all aspects comprehensively. We, at BookMyEssay have competent and skilled academic tutors who can offer you the best Industrial Licensing in India homework help online.
The industrial undertakings are exempt to obtain an industrial licence to manufacture except the following industries such as the following:
The businesses that plan to establish industries for producing the following items in India should obtain Compulsory Industrial Licence. The industries are stated in our of Industrial Licensing in India assignment help online:
These industries need compulsory licensing sue to safety, environmental, and strategic reasons.
Locational Restrictions for Industries
The industries that are located within 25 km of the cities periphery and have a population of a minimum of 1 million should obtain an industrial license from the Government. The locational restriction is not applicable in the following situations:
The location of industries is subject to land use regulations, local zoning, and environmental regulations for maintaining ecological discipline.
Industrial Entrepreneurs Memorandum
Industries exempted from obtaining an industrial license are needed to file an IEM or Industrial Entrepreneur Memorandum with the SIA or the Secretariat of Industrial Assistance, Department of Industrial Policy and Promotion, Government of India and should obtain an acknowledgement.
One more important change is in the procedures and process of Industrial Licensing in India is there is no need for further approval. After the commercial production commences, Part B of IEM should be filed in a prescribed format. Amendment of the IEMs has begun too.
The basic objectives of Industrial Licensing are given in our Industrial Licensing in India assignment writing help:
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