TN Govt unveils New Industrial Policy

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Chennai, Feb 22 (UNI) The Tamil Nadu Government today announced its New Industrial Policy for Small Industries, unveiling a package of incentives to them to generate direct and indirect employment to 10 lakh people during the XIth Five Year Plan.

The New Policy, unveilved by Chief Minister M Karunanidhi at the Secretariat here this evening, contained special incentives to agro-based industries.

The New Policy for small industries was in recognition of their contribution in generating employment.

It was proposed to help the farmers to come out with more value- added products and sought to encourage more agro-based industries in the state.

It has set a 10 per cent annual growth rate for small and tiny industries in the state in the long run.

With a view to develop the infrastructural facilities for the small and tiny industries, the government, for the first time, proposed to set up multi-storeyed industrial estates and relax the Floor Space Index (FSI) upto 2.5 per cent.

Also for the first time, private sector would be involved in setting up industrial estates for small industries with a 20 per cent subsidy or a maximum of Rs one crore, the policy said.

In the industrial estates built by SIPCOT, small, medium and tiny industries would be allotted 20 per cent of the developed land and and in the land developed by SIDCO, 30 per cent of the land would be earmarked for tiny industries.

Small industries set up in industrially backward areas, would be given 50 per cent concession in stamp duty and land registration, the policy said.

The new policy also assured 15 per cent subsidy in capital investment (Machineries and materials) for small industries set up in any part of the state. They would also be given subsidised low tension power supply for three years and subsidy equallent to six years of Value Added Tax, it said.

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