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Metallurgical sector gets max investment

Clocks Rs19k cr investments out of Rs66,000-cr IEMs; In 2021, metallurgical industry units attracted highest investment of Rs1.3 lakh cr

Metallurgical sector gets max investment

New Delhi: Continuing the trend of the last two years, the metallurgical industry has emerged as the segment in manufacturing in the first three months of 2022 as well. Other segments doing well are 'electrical equipment' and 'cement and gypsum,' official sources told Bizz Buzz.

The segment attracted over Rs19,000 crore, out of a total of about Rs66,000 crore the Part B of industrial entrepreneurial memorandums (IEMs) filed by entrepreneurs.

Industrial undertakings exempted from the requirements of licensing are required to file information i.e. IEM, relating to the setting up of units. Confirmation for receipt of such information by the Department for Promotion of Industry & Internal Trade is known as 'IEM acknowledgement.' The acknowledgement of the IEM is issued online on prima facie evidence of not attracting the provisions of licensing.

This acknowledgement, however, cannot be construed as a clearance or approval to carry on the industrial activity as contemplated in the IEM unless the provisions of statutes, regulations, notifications, etc., are issued by the Central and State Governments. There may also be stay orders issued by court or other competent authorities relevant to such an activity, about which the investors are informed. This is filed online as per Part A of IEM.

All industrial undertakings which had filed IEM are required to report commencement of commercial production. This is also filed online by providing information as per the prescribed form Part B of the IEM after commencement of commercial production by the establishment.

In other words, till March this year industrial production worth Rs66,000 crore has commenced. Electrical equipment has attracted investment worth around Rs 9,350 crore, followed by cement and gypsum (about Rs 7,950 crore) and chemicals other than fertilizers (Rs 6,600 crore). In 2021 too, metallurgical industries attracted the highest investment, around Rs1.3 lakh crore, which was more than one-third of the total of Rs 3.5 lakh crore. Chemicals other than fertilizers got about Rs 61,000 crore, transportation industry over Rs 27,000 crore, and cement and gypsum 23,674 crore.

Ravi Shanker Kapoor
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