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Thursday, September 24th, 2020

Constituted an Economic Advisory Council to promote industries


Haryana Government has constituted an Economic Advisory Council to promote industries in the State and to address issues related to various issues and policies of economic development. A notification to this effect has been issued by Industries and Commerce department.

          Giving information, here today, a government spokesman said that Economic Advisory Council (EAC) will comprise a membership- based Advisory Panel and will be headed by Haryana Chief Minister, while various representatives of the government, industry and Academia sector has also been included in the panel.

          He said that among the government members of this council, the Chief Minister of Haryana will be the chairman, while the Finance Minister, Industries Minister and Chief Secretary will be the members of the EAC. Apart from this, Additional Chief Secretary/ Principal Secretaries of Finance, Town and Country planning, Power, Revenue, Excise and Taxation, labour, Environment and Industries, MD/HSIIDC and DIRECTOR/Director General, industries and Commerce, Haryana have been included in the panel.

          The spokesman said that members of the private sector including, Real Estate leaders, chairman and managing directors of the headquarters of major banks in Haryana, management partners of leading consulting firms, country heads of major IT firms, Head of Apex Industry Association and Vice-chancellors of educational institutions, Chairman and Managing Director of Food Processing Units, top textiles, logistics, aerospace in Haryana have also been included in the panel.

          The spokesman said that this council would be constituted for 5 years, in which the government members would remain as permanent members of the council, while the members of the private sector would serve a term of 2 years.

          He informed that a report related to the achievements and contributions of the Council will be placed before the Haryana Enterprise Promotion Board (HEPB) once a year. The Department of Industries and Commerce, Haryana will act as the nodal department.

          He informed that in order to adopt a sector-focused approach to development, Sub-Sectoral task forces/committees will be formulated and notified, comprising members from within the EAC itself or new members as proposed by existing members. He said that these Sub-Sectoral task Forces/ committees will support with facilitating development and growth, job creation and investment promotion pertaining to key thrust sectors of Haryana.

          He said that the purpose of setting up this EAC will be to act as the sounding board of the State Government on various economic issues and development strategies, advocacy on policy matters and other issues of economic development targeted at prosperity and job creation. The EAC will guide the development in the State based on the changing economic environment and market trends.

          He said that this council will also give Haryana a platform to showcase its flagship projects targeting industrial and urban development, to a top-class professional network and further spread awareness about the investment available for private players in these projects.

          While sharing the key functions of the Council, the spokesman said that the Council will analyze and review the status of economic development and growth in the State. Apart from this, the Council will also discuss the macroeconomic developments and issues with implications for economic policy. The Council will also address issues of macroeconomic importance and present views thereon to the Government either through a suo-moto on a reference from the Chief Minister or anyone else.

          The spokesman said that the Council will advise on the policies, procedures, strategic direction for the purpose of encouraging job creation, sustaining employment and business development in Haryana. The Council will also create awareness about the State policies and initiatives for investment promotion.  Apart from this, the Council will also work for the promotion of flagship projects to leading private industry players. The council will also advise on the selection of market sectors supported by the region with sector experts as they change, shift and expand and further advise on new business attraction opportunities, programs or strategies, on business expansion and retention opportunities, programs or strategies, on potential partnerships with other countries/States Identify barriers and opportunities in the community to direct strategic direction and on the dissemination of information from the region to the local business community and partners



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