The Confederation of Indian Industry (CII) has welcomed the announcement of Maharashtra's new industrial policy. The industry has been eagerly awaiting the new policy. The last five-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 enterprises (MSME) firms and aims at an investment of Rs 5 lakh crore and employment generation for 20 lakh people.
CII in a release said worldwide, MSMEs 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 8,000 value-added products.
Pradeep Bhargava, chairman, CII WR and director, Cummins Generator Technologies India, said: "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 convert into integrated industrial townships.
"This 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," he said.
R Mukundan, deputy chairman, CII WR and managing director, Tata Chemicals, added: "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."
Satish Jamdar, chairman, CII Maharashtra State Council and managing director, Blue Star Ltd, appreciated the aim of this policy to boost the growth of the industrial production sector to 11-12% every year. It endeavours to increase the share of the industrial sector in the GSDP from 18-28%. He also complimented the state government for offering special rebates, waivers in electricity & stamp duty and relaxation in VAT for units planning to set up shops in under-developed areas of Marathwada, Vidarbha and tribal districts. These steps will bolster development in these areas and will pave the way for more industries to consider setting up establishments in the near future.
Ninad Karpe, vice chairman, CII Maharashtra State Council and managing director & CEO, Aptech, said: "Connectivity issues that have been addressed in the new policy are certainly welcome and will pave the way for further growth of the state. The policy mentions development of Mumbai-Pune-Solapur, Mumbai-Nashik-Aurangabad-Amravati-Nagpur, and Mumbai-Ratnagiri-Sindhudurg corridors in addition to the Delhi-Mumbai Industrial corridor."