The Uttarakhand government is preparing a new industrial policy in order to give fresh impetus to the industrialisation process.
The industrialisation process had developed sluggishness due to various factors like bleak power scenario and the expiry of hill-based tax incentives in March last year.
Briefing chief minister B C Khanduri about the industrial activities, principal secretary industrial development Rakesh Sharma said the consultations on the new industrial policy are being held with chambers like Confederation of Indian Industry, Industries Association of Uttarakhand and others. Sharma said the government has received proposals from these organisations regarding the future policy. The current policy which was framed in 2003 had been given extensions repeatedly in the past.
Khanduri said the government must put efforts to give thrust to the industrialisation process and increase investments in the hilly region. Khanduri said rapid industrialisation process would create new jobs for the unemployed youths. There are over 550,000 unemployed youths in the hill state, according to state planning minister Prakash Pant.
Khanduri also wanted to know as to why the desired investments did not reach the hilly areas for which his government had launched a hill development policy in 2008. He invited suggestions from industrialists for increasing investments in the hilly region. He asked the industry to make investments in areas like hospitals, horticulture and food processing sectors.
After the expiry of the hill-based tax incentives on March 31, 2010, the industry had approached the government to make a new industrial policy in the changed scenario. However, the government did not show much enthusiasm in preparing a new industrial policy as the power scenario too turned bleak.
“We have submitted our proposal for the new industrial policy. We are hopeful that the government would soon come with a good policy,” said Pankaj Gupta, president, IAU.