The expiry of the state's 2009-14 Industrial Policy has left a vacuum in the much-touted industrial promotion in Karnataka.
The policy brought forward in 2009, expired on March 31 this year. But, so far the state government has not come out with its stand on bringing out a policy that would specify its approach towards promotion of industries in the state.
As a result, entrepreneurs and those who have already launched their projects hoping to take advantage of the incentives and benefits, are left in the lurch. They have no way to look for incentives like exemptions on the land registration fee, subsidy sanction, tax exemptions among others.
Explaining the scenario, Mysore Industries Association (MIA) General Secretary Suresh Kumar Jain said today, in view of the zero-policy situation arising in Karnataka entrepreneurs were not coming forward to set up new industrial units in the state.
"The lack of an industrial policy may also affect the global industry meet planned this year," he cautioned.
A team of local industrialists led by MIA President P Viswanath met district in-charge minister V Sreenivasa Prasad in a delegation and presented a memorandum to him urging Chief Minister Siddaramaiah to extend the 2009-14 Industrial Policy till a new policy is announced.
According to Jain, Prasad, who is the revenue minister, promised along with Chamarajanagar MP Dhruvanarayan, who was present on the occasion, that he would discuss with the Industry Department Principal Secretary and the secretary about steps to have the old policy extended.
Jain brought to the attention of Prasad that most of the suggestions that had come out of a joint consultation committee of the divisional level industry experts, investors and industry bodies conducted by the MIA and included in the 2009-14 had been given effect by the government.
