WTO commitment to reflect in MP's new industry policy

Bhopal, May 29 (UNI) India's commitments to the World Trade Organisation (WTO) will reflect in the new industrial policy being framed by the Madhya Pradesh government to speed up the state's industrialisation.

An indication to this effect was given by state Chief Minister Shivraj Singh Chouhan in Indore yesterday during his interaction with entrepreneurs and industrialists.

''We should keep in mind that the industry policy is being reformulated in the age of globalisation and international agreements.

The new policy will take care of our commitments with WTO'', Mr Chouhan said.

The Chief Minister said the right model of industrial policy would not be found in increasing subsidy or reducing taxes as much as it would be found in promoting collaboration between the government and the private sector in pinpointing the obstacles in restructuring and its removal in an effective manner.

Inviting the investors to become active partner in the state's development, Mr Chouhan said ''Global Destination-Madhya Pradesh'' would be organised jointly with FICCI in January next year.

Investors from within and outside the country would be invited to attend it.

Indicating a fresh outlook in the development of industrial clusters, the Chief Minister said since establishment of industries affects the urban infrastructure, it was high time that the old estate development approach of growth centres was replaced by industrial township with facilities for trade and finance, exhibition centres, convention centres and corporate headquarters.

''Industrial development calls for seriousness on the part of all stake holders and no politics'', he said, adding ''My government is ready to take risks to secure cooperation of industry in development of the state''.

MORE UNI SP CS PM1635