Tamil Nadu govt up for tweaking Industrial Policy, MSMEs say reforms much needed

New Delhi, Nov 22 (KNN) The Deputy Chief Minister O Panneerselvam on Sunday said that the government had been reworking on new the industrial policy which was launched in 2014 to keep in tune with the latest developments, including the introduction of GST. The industry in the state comprising of a fair share of Micro, Small and Medium Enterprises (MSMEs) have welcomed the move saying reforms are much needed.

The Deputy CM added that the government will focus not only on developed sectors but also on the emerging sectors like auto and auto components, bio-technology and aero Space and Defence manufacturing.

The new industrial policy was launched in 2014 by late Chief Minister Jayalalithaa with an aim to make Tamil Nadu an investment hub of the country.

Talking to KNN, C.K. Mohan, General Secretary of Tamil Nadu Small and Tiny Industries Association (TANSTIA) said that the new industrial policy is  really good for industrial development and FDI inflow in the state but it was not implemented properly.

Listing the concerns that the government is yet to address in a comprehensive manner, he said  that the electricity connections still take lot of time to realize and the plan sanctions are still approved by the local bodies like panchayat which is a bottleneck for ease of doing business and major reason behind the corruption.

He further said that for industrial development ease of business is required and the  with the invent single window clearance act, there is a possibility that the setting up of new businesses would be easier and the MSME sector will be strengthened.

The government may boost its going initiatives such as alternate sources of energy like wind and solar energy   that may help alleviate the power problem, Mohan added. (KNN/AG)