After announcing its industrial policy in November, the Madhya Pradesh government today said it is now focusing on developing the infrastructure required, especially for setting up drug, herbal and bio-technology industries in the state.
"The State Government has already unveiled its new Industrial Promotion Policy-2010 with an objective to ensure faster economic development and employment generation by sustainable use of resources available in the state," Madhya Pradesh Industry Minister Kailash Vijaywargiya told PTI.
"We have focused on developing drug (chemical and herbal), and bio-technology in the state," he said.
For promoting the drug sector, especially herbal, the new policy focuses on creating an integrated infrastructure in the areas having good prospects for development of herbal and ayurvedic products based industries.
"Herbal parks and demonstration centres would also be developed in these areas for the promotion of such industries," the Minister said.
Referring to the bio-technology sector, he said under the new policy, several concessions in addition to those given to normal industries would be given.
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Additional facilities include 50 per cent concession in land premium to be provided to the units employing over 500 persons on regular basis.
On the issue of MoUs worth over Rs 2.5 lakh crore inked during last year's Khajuraho summit, he said that a committee headed by chief secretary is continuously evaluating their progress.
Vijaywargiya said four companies inked MoUs worth Rs 661 crore in the areas of industrial infrastructure development, setting up rolling mill, fertiliser unit and corrugated boxes yesterday.
For promoting food-processing industries, the government has decided to set up local natural resources-based industries in specific areas like Malwa-Nimar region, the Minister said.
The government has also decided to develop land bank for setting up industries in the state.
On the issue of shortage of power in the state, the Minister said that in order to emerge as a major power hub in the country, the state government has inked several MOUs to generate 58,000 MW of power in next few years.