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West Bengal govt announces draft industrial policy

Last Updated: Saturday, May 18, 2013 - 19:19

Kolkata: The West Bengal government on Saturday announced its draft industrial policy to attract investment, two days ahead of its completion of two years in office.

State Industry Minister Partha Chatterjee told reporters in presence of Chief Minister Mamata Banerjee that the state government has uploaded its industrial policy, in which focus has been given on industrial park and industrial hub to be developed on PPP model.

"Land allocation and incentive offered, have also been incorporated in the draft policy," he said.

The industry minister said that "while formulating the draft industrial policy, We have kept in view industrial policies of eight to ten states to accelerate pace of industrialisation in the state."

Chatterjee said that the state government was open to suggestions from various chambers and industries ``and we will incorporate those, if found practical, in the final industry policy``.

The state government also announced its new textile policy, besides MSME policy.

The chief minister said that this was the first time the state had announced the textile policy, which would encourage weavers, garment manufacturers and hosiery units "so that West Bengal can capture the markets outside".

Turning to MSME policy, she said "the state government will give various benefits to both MSME and textiles, which include capital investment subsidy, interest subsidy on term loans, electricity duty waiver, power subsidy, stamp duty and registration fee waiver, entry tax reimbursement for plants and machineries, VAT reimbursement.

"This will be applicable to both textile and MSME," she said.

Apart from these, the state government will offer additional benefits under standard quality compliance, freight subsidy and handloom, powerloom, hosiery, apparel and garments, state Finance Minister Amit Mitra said.


First Published: Saturday, May 18, 2013 - 19:19

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