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20/02/2019 01:49pm

Closure of industrial units in various estates of GIDC might be due to demonetization and GST: FOGI

image Closure of industrial units in various estates of GIDC might be due to demonetization and GST: FOGI

Gandhinagar, Feb 20 (KNN) More than 2000 industrial units in various estates of the Gujarat Industrial Development Corporation (GIDC) are closed, according to information provided in the Assembly by Gujarat Government in a written reply.

With regard to this data on closed units, Secretary General of Federation of Gujarat Industries (FOGI) told KNN India that “As per the information provided, there is no mention of how many industrial units shut down year on year basis.”

He said that some 20% out of the total have been shut in last 2 year.

Highlighting the reason of the closure, he mentioned “There could be various reasons attached to it but do not rule out that a few might have not been able to sustain because of demonetization and roll out of GST due to slow refund circle process in first year.”

There are 25,000 MSME units in Gujarat and we need to add new startups too, he added.

According to the media reports collated data, around 2,069 units were shut in GIDCs in 31 districts as of December 31, 2018.

The data shows that 196 units were shut in GIDC estates in Ahmedabad district, of which 25 closed down in the last two years.

In Bharuch 35 units closed down in last two years. As many as 260 industries were shut in Surat, of which 101 had downed their shutters since 2016.

Vadodara (200), Valsad (172), Bhavnagar (168), Rajkot (119) and Porbandar (110) Surendranagar (96), Panchmahal (75), Kutch (50), Amreli (44) and Anand (38) were also home to closed industries in GIDC estates.

In Jamnagar, 36 units were shut in GIDCs, but 19 of them closed down since 2016. Similarly, 19 out of 50 units in Kutch, and 10 out of 18 units in Banaskantha downed shutters in last two years, the CM said. (KNN/YV)

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