The new industrial policy announced by the state government on Monday has not gone down well with industrialists in the town, with many describing it as disappointing and discouraging for present industrial units.
Talking to HT, most industrialists said the state government's decision to not specifically extend incentives to existing industrial units came as a disappointment.
"Industrial units have been functioning under adverse circumstances for past several years," said Anurag Aggarwal, the president of Mohali Industry Association. "The policy contains nothing for the present industrial units."
"By fixing minimum investment at Rs 10 crore, most micro, small and medium enterprises (MSMEs) have been left out from driving any benefit from the industrial policy."
The new industrial policy did not have any mention of allowing construction of multiplexes, educational institutions, budget hotels and hospitals, in the focal point of the industrial area.
"This happened though the state government had in 2008 promised a policy would be devised to allow such commercial activity in industrial zones," he said.
Mohali Industry and Commerce Association president Nikhil Saraf, too, was unimpressed by the new policy. "The state government should frame a policy that brings about institutional development in SAS Nagar, keeping in view the upcoming international airport. With such pitiable infrastructural, new investments seem unlikely," he said.
Though in the policy announced on Monday the state government described SAS Nagar as an IT hub and announced a plethora of incentives, including VAT incentives, ensuring 24-hour power, stamp duty, property tax exemption and exemption from Punjab Pollution Control Board for new units, announced nothing for existing units.
The members of Mohali Industry and Commerce Association have now urged the authorities concerned to bring about infrastructural development in SAS Nagar's Industrial Area. The association has asked the authorities concerned to take note of basic amenities, including water and power supply, broken roads, parking spaces and lack of infrastructure.