Haryana new industrial policy likely in November

Haryana new industrial policy likely in November

Chandigarh: Promoting SMEs and facilitating investment in infrastructure projects through public private partnership mode will be among the key points of Haryana’s new industrial policy, which is likely to come out in November.

“The final touches are being given to the new industrial policy, which is aimed to boost state’s industrial sector and it is expected to come out next month," a senior official of Haryana industries department said in Chandigarh.

The state government, which is coming out with new industrial policy after a gap of five years, will encourage the existing 80,000 small and medium enterprises (SMEs) units, which contribute over 80 % in state’s industrial production.

“Acknowledging the role of SMEs in state’s industrial production, there will be a separate chapter for it in the industrial policy, whereby SMEs will be developed through cluster approach," he said.

In Haryana, SME units are engaged into rice milling in Kurukshetra and Karnal, automobile in m, farm implements in Karnal and handloom in Panipat district.

Experts from Asian Development Bank have guided the state to create an encouraging environment for PPP as the preferred mode of execution and operation of infra projects.

After receiving accolades from the Centre for its land acquisition policy, the Haryana government is actively considering a proposal to enhance the floor rate for land acquisition in the state.

Under the existing policy, farmers get an annuity for 33 years of Rs15,000 per acre, with an increase of Rs500 per acre.

The new policy will also focus on giving thrust on new industrial investments, especially in special economic zones and niche areas like food processing and bio technology.

Haryana attracted investment worth Rs53,000 crore in the last five years, which is far more than the total investment that came to the state in the last 40 years of its inception, while investment worth Rs1 lakh crore is still in the pipeline.

About 3.5 % of total investments worth Rs88.71 lakh crore announced in the country last year, came in Haryana.

In the last five years, FDI in the state jumped to Rs9,277 crore, against Rs3,500 crore in 2005.