Page 3 - Industrial Policy

Pro-industry policies have helped Gujarat attract investment: Officials

Gujarat's industry-friendly policies have played a key role in attracting investments across sectors and underscore the state government's commitment to drive India's economic growth, officials said. Like the previous nine Vibrant Gujarat Global Summits held over the last two decades, the 10th edition of the summit, to be organised in Gandhinagar between January 10 and 12, 2024, will serve as a platform to showcase the state's commitment to promote business-friendly policies, they said. The state aims to support the Centre's vision of 'Atmanirbhar (self-reliant) Bharat' through 'Atmanirbhar Gujarat,' and measures announced to attract businesses are aimed towards the same, the officials said. They credited Prime Minister Narendra Modi's vision for economic development behind the state's progressive policies. "The Vibrant Gujarat Global Summit has played a key role in attracting an impressive USD 55 billion in foreign investments over the past two decades. It has contributed to more

Gujarat industrial policy aims to make state global biz hub: Stakeholders

The Gujarat government's industrial policy, launched in August 2020 with an aim to provide Rs 40,000 crore in subsidies to industries over five years, is a reflection of its commitment to make the state a global business destination, stakeholders have said. The policy, valid for a period of five years since its launch, promises an average annual outlay of Rs 8,000 crore, indicating substantial support for industries, they said ahead of the 10th edition of the Vibrant Gujarat Global Summit to be held from January 10-12, 2024, in Gandhinagar. The summit is a forum for business networking, knowledge sharing and strategic partnerships for inclusive growth and sustainable development. The state's industrial policy has been well on target to achieve its mission to promote entrepreneurship and innovation by inclusive and balanced regional development, world-class infrastructure, and initiatives aimed at easing the business environment and export competitiveness. This is a reflection of th

Odisha govt approves seven industrial projects worth Rs 1482.53 crore

The Odisha government approved seven industrial projects with a collective investment of Rs 1482.53 crore, which would create employment for over 11,500 people. The State Level Single Window Clearance Authority (SLSWCA) led by Chief Secretary Pradeep Kumar Jena on Friday approved these projects to be set up in Khurda, Ganjam, Sundargarh, Keonjhar, Jajpur, Balasore, and Rayagada districts, a government statement said. The SLSWCA approved the proposal of Tech AIC DRI Pellets Pvt Ltd to set up a steel manufacturing plant with an investment of Rs 800 crore in Keonjhar district, it said. MAS Udyat India Pvt Ltd got the state government's nod for establishing an integrated textile facility with an investment of Rs 214.40 crore in Khurda district. Alenn Steel Industries Pvt Ltd has committed to invest Rs 178 crore by establishing a cold rolled precision pipes manufacturing unit at Kalinganagar in Jajpur district. The state government also approved the Rs 121.21 crore investment proposal

State industrialists urge Rajasthan govt for long-term business policy

Industrial electricity rate in Rajasthan is around Rs 8.45 per unit, whereas it is much lower in Gujarat, Madhya Pradesh and Haryana.

Industrial projects worth Rs 21.73 trn approved by Odisha govt: Minister

To make Odisha an industrial hub in eastern India, the state government has approved 848 industrial projects in different sectors with an estimated potential investment of Rs 2l.73 lakh crore, Industries Minister Pratap Keshari Deb told the Assembly on Friday. Replying to a question of BJD member Prafulla Samal, the minister said the state government has taken some tangible steps for promotion of industries in various sectors across the state to make Odisha an industrial hub in eastern India. As a result of these initiatives, 848 industrial projects in different sectors of industry have been approved through State Level Single Window System for establishment of industries with an estimated potential investment of Rs 2l,73,871.34 crore and estimated employment generation of 9,14,895 people, he said. To attract investors the state government has implemented Industrial Policy Resolution (IPR), 2022 and formulated 24 sector specific policies, Deb said. "The government is committed to .

Tata Group and Vedanta offer lessons in India's industrial policy

Tata, at least, has already made the right start. By its own account, Tata Electronics is a "venture of the Tata group with expertise in manufacturing precision components."

Scheme to tackle pollution by processing units in sectors on the cards

With an eye on FTAs, govt is considering incentivising industry to invest in solutions

Industrial metaverse gains real-life traction

Digital transformation strategies are moving towards a common approach in which a single suite of diverse technologies helps bring cost, time, and resource efficiencies

Rajnath Singh to embark on 4-day visit to Italy, France from Monday

Defence Minister Rajnath Singh will pay a four-day visit to Italy and France beginning Monday to expand bilateral strategic engagement and explore industrial cooperation for joint development of military hardware. In the first leg of his two-nation tour, Singh will travel to Rome where he will hold wide-ranging talks with his Italian counterpart Guido Crisetto, according to the defence ministry. The relationship between India and Italy was elevated to the level of strategic partnership in March during the Italian prime minister's visit to India. "Defence Minister Rajnath Singh will visit Italy and France from October 9 to 12, " the ministry said. In Paris, Singh will attend the fifth annual India-France defence dialogue with his French counterpart Sebastian Lecornu. "India and France recently celebrated 25 years of strategic partnership. Both countries enjoy a deep and wide-ranging bilateral defence relationship, including significant industrial cooperation," the defence ministry s

Will industrial policy fail India again?

Seven lessons from East Asia's industrialisation

Perspectives on industrial policy

Balancing financial incentives with trade liberalisation is crucial for making India's manufacturing sector globally competitive

TN kicks off BizBuddy Outreach programme to address industry concerns

SIPCOT or the State Industries Promotion Corporation of Tamil Nadu is an institution owned by the Government of Tamil Nadu to promote industrial growth in the state

World Environment Day: Green clearances in India at multi-year high

Industrial projects get bulk of clearances, followed by infrastructure and mining

Inter-ministerial meet for new industrial policy underway: DPIIT Secy

An inter-ministerial consultation is going on for formulation of a new industrial policy, which would aim at building a globally competitive business environment to increase manufacturing and exports, a top government official has said. This would be the third industrial policy after the first in 1956 and the second in 1991. It is likely to replace the industrial policy of 1991 which was prepared against the backdrop of the balance of payment crisis. "The policy is in the process of inter-ministerial consultation...It will focus on newer set of industries that has now come," Secretary in Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh told PTI. The proposed policy is likely to suggest reforms to foster and create a globally progressive, innovative and competitive industrial ecosystem. The six core objectives of the policy may include focus on competitiveness and capability; economic integration and moving up the global value chain; promoting Indi

Need states' support to resolve industrial corridor issues: FM Sitharaman

The industrial corridors can be operationalised by expediting land acquisition, facilitating the implementation of external infrastructure linkages, among other things

Industrial concentration power doesn't dictates pricing capacity: SBI

The core CPI (which was sticky for almost one year) also moderated to almost 2-years low to 5.74 per cent in March 2023, said Ghosh

Kerala approves new industrial policy to become hub of developed industries

The Kerala government on Wednesday approved its new industrial policy which is aimed at a quantum leap in the key production sector for making the State a hub of most developed industries. Kerala Industries Minister P Rajeev said that the Cabinet approved the new policy which would be focusing on Environmental Social Governance (ESG) investments. "One of the new significant features of Kerala's new industrial policy is, we are focusing on Environmental Social Governance (ESG) investments. We have already constituted a committee consisting of experts from Oxford and representatives of industries to frame an industry framework for Kerala," Rajeev said. He said the intention of the government is to make Kerala the leading State in attracting ESG investments. As part of the new policy various academic, cooperative and private industrial parks focusing on 22 key production sectors would be set up, the Minister said. The new policy, as part of the Industrial Revolution 4.0, has provisio

A monster from the past

The global turn to industrial policy defies history and logic

I&L sector takes 31.6 mn sq ft on lease in 2022, highest since 2019

Delhi-NCR led the absorption with 7.3 million sq ft, followed by Mumbai and Bengaluro with 6.1 million sq ft and 5.2 million sq ft, respectively

Chexit, in parts: Reshoring, friend-shoring and billions of dollars in sops

Good or bad, India's current policy thrust on PLIs, capital subsidies, etc, is in line with the East Asian trend, if not global, notes T N Ninan