Report on new industrial policy by mid-March

The core group on formulation of a new industrial policy for the next five years is expected to submit its report to the government of Karnataka by the middle of March.

After obtaining feed back from the stake-holders in Bangalore, the three-member core group, headed by former Union commerce secretary P P Prabhu, has begun opinion gathering in other major centres.

The group visited Mysore on February 17 and sought suggestions on formulation of an industrial policy for 2006-2011 from the local industrialists and traders. The formulation of a new industrial policy assumes significance in the background of the state?s progress in the industry sector since about a decade.

During the interactive session at the Mysore Chamber of Commerce & Industry, members' concern chiefly related to bureaucratic hassles and infrastructure problems, than issues like concessions and subsidies.

Instead of long delayed subsidies, the industrialists favoured creation of better infrastructure with the same funds. "We have collected a lot of feedback during our hearings in Bangalore. This is our first visit outside Bangalore. We will also visit Hubli, Mangalore and Gulbarga," Prabhu told Business Standard.

"Some important suggestions like self-certification, e-mail participation, and compulsory conversion of land made had come forth from the stake-holders during our hearings. A suggestion has also been made for zonal identification instead of rural-urban classification. After consolidating our opinion on all these suggestions, we will give our final report," he said.

These and other measures, the Chamber members felt would cut down delay, red-tape and inspector-raj and facilitate further speedy industrial growth of the state.

Suggestions made by them comprised identification and declaration of potential industrial area for industrial development, faster infrastructural facilities, speedy processing of land conversion, making of single window decisions binding, restoration of SSI reserve items now removed under the transparency act, and uniform definition on sick industry and exit policy benefit.

Other suggestions include specific concessions for women entrepreneurs, labour law changes, infrastructure-based development instead of subsidy-based development, etc.