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New lease of life for sick units: Gaur

SICK INDUSTRIES of the State would get a shot in the arm with the first of its kind of fair to be organised specifically starting with the Gwalior belt in the coming months, declared Commerce and Industry Minister Babulal Gaur.

india Updated: May 29, 2006 20:05 IST

SICK INDUSTRIES of the State would get a shot in the arm with the first of its kind of fair to be organised specifically starting with the Gwalior belt in the coming months, declared Commerce and Industry Minister Babulal Gaur.

He was speaking at a ‘Meet the press’ at Indore Press Club today. Gaur said that the concept of holding such fairs for the revival of sick industries or facilitating transfer from one hand to other was novel and a first of its kind attempt in the country.

According to a survey, the largest number of sick units in the State was concentrated in the Malanpur-Tekanpur belt of the Gwalior division and therefore, it was only logical that the fair was being started from that area.

The symposium was being held with the purpose of introducing changes/amendments in the said policy. VAT was introduced on April 1, 2006, for all trade and industry classified as per Government of India norms into three clusters. The State was incurring loss to the tune of Rs 500 crore to Rs 600 crore in the teething stage of this endeavour of bringing uniformity in taxes.

The Central Government had come around to compensating 70 per cent of these losses and this was the reason for delay in introduction of VAT in the State. After the declaration of the policy on June 21, 2004, the State has received proposals for investment up to Rs 86,774 crore by end of March 2004.

However, these taxes had hurt the interests of certain industries and the symposium was an interface meant to sort these out. State Government wished to make Indore an international city and setting up of Special Economic Zone (SEZ) auto testing track, auto cluster, IT park and upgrade of Indore airport were steps taken in this direction.

Apart from these gems and jewellery, apparel export promotion parks were being set up in other big cities of the State. Several bids for setting up IT Parks and SEZs have been received from the private sector.

He said that the government was also determined to set up labour intensive industries, those saving fuel, and being located in rural areas.

An industry set up with private initiative in Tarapur village near Orccha in Tikamgarh district uses a wild bush known in local parlance as ‘besharm’ producing low cost electricity and high-grade paper is a model of the amalgamation of above said aims. A seminar on small/medium scale industries with the purpose of increasing industrialisation in backward areas of the State would be held two months hence.

A drive for promoting the State internationally would be launched from August. A delegation from the State would head for Japan, USA and other destinations for the purpose. The State Government plans to hold a ‘global investors meet’ in the month of January in Bhopal. About 100 foreign delegates are expected to attend his meet, Gaur said.