West Bengal Investment and Industrial Policy 2013
In a bid to reduce the financial debt of over $37.88 billion in 2011, West Bengal government formulated Industrial and Investment Policy, 2013. The main agenda of this policy is to improve infrastructure to advance economic growth and also by adding another 4000 km of highway and bridges, ports, airports and water transport in PPP (Public Private Partnership) model.
The main thrust of new Industrial Policy
- To foster and assist MSME sector giving special focus to textile, food processing, agro based activities, leather, gems and jewelry industry
- To revive the industries which were the trademark for the state like Jute and tea industry
- To welcome FDI (Foreign Direct Investment) and latest technology especially in manufacturing, sun-rise industries and also in high tech areas.
- To promote and foster entrepreneurship and employment
- To influence and advance medium and large scale industries like manufacturing and engineering, chemical, petrochemical and lastly, hydro carbon industries.
- To build strong labour management relations.
- To upgrade the skills of human resource to meet international standards
- To utilize the prospective large technical manpower of the IT industry, business, electronics industry etc.
- Restructure business process in the state as well as have policy reforms to make the environment for doing business easy and available for the entrepreneurs. Also, it is mentioned that one of the focus has to be given to create a Single Window Clearance System especially for the startups.
- Make the state a leading hub in the country for entrepreneurs (both new and existing) as well as for investors
- Increase manufacturing growth rate from 4.7 % (2010-2011) to a maximum 20%
- To achieve a minimum 25% of the NSDP for manufacturing sector
- To generate employment of 13.14 lakh
- Special efforts are to be given to MSMEs with emphasis on food processing agro, leather, textile etc.
- Create rapid growth in ICT including KPO/BPO/High end IT/Software and Hardware development/gaming/animation and special effects industry, back office support and Banking sector.
- To promote development by supporting local entrepreneurship, especially among Minorities, Women, Differently abled, Other Backward classes etc.
Main Components of the Policy
Strategic Interventions through this policy:
- Creating quality infrastructure in the industrial sector including power, communication, rail and road connectivity etc. also, to create ‘State manufacturing Zones’ with National Industrial Manufacturing Zones (NIMZ)
- Attract direct investment to generate employment opportunities
- Single Window Clearance System for the startups
- Time bound clearances at each level
- Digitalizing application procedure
- One of the most important intervention of this policy is to ease the process as well as the environment for doing business
- Creating different schemes to help the MSME sector and provide other financial, technical supports to them
- Special focus is given to develop human resources with appropriate scientific, technical and managerial skills to maximize employability. A proposal has been given to create an ITI in each of the 341 blocks of the state and a polytechnic institute in all the Sub-divisions of the state. Also to build vocational streams in high schools with inputs for the curriculum from relevant industries.
- Partnership between Industrial Development Authorities of the State and National Training Institutions for arranging trainings
- To create competitiveness and innovation to boost the manufacturing sector, it has been proposed to create a State Manufacturing Competitiveness Programme in accordance with the National programme.
For more information click HERE