CII has welcomed the announcement of the New Industrial Policy for the State. The Industry has been eagerly awaiting the new policy since the last 5 year industrial policy was announced in November 2006.
Unlike the previous policy that aimed to attract investment from big industrial houses, it is heartening to note that the new policy targets micro, small and medium firms and aims at an investment of INR 5 lakh crores and employment generation for 20 lakh people.
Worldwide, Micro, Small and Medium Enterprises have been accepted as the engine of economic growth and for promoting equitable development. MSMEs constitute over 90% of total enterprises in most of the economies and are credited with generating the highest rates of employment growth and account for a major share of industrial production and exports.
In India too, the MSMEs play a pivotal role in the overall industrial economy of the country. MSMEs in India account for more than 80% of the total number of industrial enterprises and produce over 8000 value added products.
According to Mr Pradeep Bhargava, Chairman CII WR and Director, Cummins Generator Technologies India Ltd one of the main stays of the policy is creation of integral industrial townships and the SEZ Exit plan which envisages release of de-notified SEZ land which is proposed to converted into integrated industrial townships.
Mr Bhargava said that ''this is addresses one of the most crucial issues of land availability for industry. And we are happy that the Chief Minister has stuck to his commitment that he had made at a recent interaction with CII Members on creation of new economic hubs and special township projects''.
Mr R Mukundan, Dy Chairman, CII WR and MD, Tata Chemicals Ltd added that the State Government has sent the right signal by announcing that it will set aside 60,000 acres of land for setting up industries. This will give a positive impetus for the growth of the industry in the State and also check the outward flow of investments from the State.