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The state government has extended the 2009-14 industrial policy till a new policy comes into effect.
According to the Mysore Industries Assocation (MIA), the Department of Industries and Commerce has announced in an order about the extension of the old policy.
Expiry of the state's 2009-14 industrial policy had left a vacuum in the much-touted industrial promotion in Karnataka. It had expired on March 31 this year.
But, even after its expiry, the government has failed to come out with its stand regarding 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 were left in lurch. They had no way to look for incentives like exemption in land registration fee, subsidy sanction, tax exemptions among others.
In view of this, a delegation of the MIA led by President P Vishwanath had submitted a memorandum to Chief Minister Siddaramiah through District In-charge Minister V Srinivasa Prasad in the presence of sitting MP Druvanarayana recently, explaining the hardship faced by industrialists and investors in this vacuum. They also urged for the extension of the expired industrial policy till a new policy is announced in the interest of industrial development of the state.
Vishwanath and MIA General Secretary Suresh Kumar Jain have today thanked the Government for its speedy action.
