"The CM has approved the draft of the new industrial policy after some amendments. It will be uploaded on the website of the department for suggestions and objections of people before finalising it and presenting it before the state cabinet," the spokesperson said.
Mr Adityanath has carefully gone through the key points of the UP Industrial Investment and Employment Promotion Policy, 2017, before approving the draft, he said. The government will unveil the policy in the "next two-four weeks", UP Industries Minister Satish Mahana said.
The new industrial policy seeks to simplify the procedure for development of fundamental infrastructure and promote establishment of industries in Purvanchal and Bundelkhand regions.
It will also ensure time-bound approvals with special focus on information technology start-ups, electronics, agriculture, food processing, dairy, handloom, film development and tourism sectors, among others.
Promoting food parks and restoring the industry in Kanpur, once called Manchester of the East, will also be part of the new industrial policy. "We will try that it (policy) is rolled out by June 26," Mr Mahana said.
The highlight of the policy will be uninterrupted power supply to industrial units. "As far as power is concerned, we are going to give open access for it. Industrialists and investors can purchase power from a private party. This open-access thing was not there in UP till date," he said.
"We are also coming out with tax benefits for investors," he added. Mr Mahana said a single-window system will be set up to provide facilities to potential investors under one roof.
"We are also studying industrial policies of other states to incorporate good things," the minister said. "Industrialists want congenial atmosphere and ease of doing business. Earlier, there used to be huge power cuts. By 2018, we will give round-the-clock power supply to people and have promised industrialists uninterrupted power," he said.
Referring to the state's industries, many of which are close to the Ganges, Mr Mahana said, "Polluting units will be shifted to other places. We have given them offer to shift for which an industrial cluster will be set up."
Mr Mahana said consumer electronics maker Samsung will invest Rs 4,915 crore to double its manufacturing capacity for smartphones and refrigerators at its Noida plant. He said soon after the Bharatiya Janata Party came to power in UP, a five-member delegation of Samsung India called on the chief minister and apprised him of the problems faced by the company. Samsung executives also conveyed their willingness to partner in the state's development, Mr Mahana said.
The Korean electronics firm has said that the investment would position the Noida plant as a major production hub and create 5,000 jobs.