Delhi government proposes boost to hospitality sector in draft industrial policy
These include increasing hotel room availability near key locations in the national capital like ITPO at Pragati Maidan and Yashobhoomi in Dwarka.
The draft, released for public feedback by the Industries Department, identifies three focus sectors including Frontier tech services, research & development and hospitality (excluding tourism), that are expected to drive the capital's economic growth while addressing land scarcity and sustainability concerns. To support Frontier tech services such as AI, Big Data, Gaming, Biotech, and IT & ITeS, the government has proposed major fiscal incentives.
These include 50% capital investment reimbursement (up to Rs 50 crore), 6% annual interest subsidy for five years, full reimbursement of patent filing costs up to Rs 5 lakh per patent and a Rs 400 crore venture capital fund. Additionally, a 100% NET SGST reimbursement for five years and a 50% exemption on interstate power wheeling and transmission charges are proposed.
The policy acknowledges the space crunch in commercial real estate and proposes developing Plug & Play IT Parks and Global Capability Centres in Baprola, Ranikhera, and Kanjhawala through PPP models. It also plans to ease regulatory norms to make Delhi more conducive to restaurants and nightlife by streamlining compliance and adopting a 'reasonable' alcohol policy.
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