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GOVT. POLICY RULES AND REGULATIONS

A Snapshot of the Industrial Policy of the Government of Tamilnadu.

Implications of the New Industrial Policy

Thrust on Infrastructure development:

  • Automobiles and Auto components, Electronics & Software projects
    - thrust sectors with special incentives;
  • Simplified procedures and 'Single window approach through a new law;
  • Transparent, entrepreneur-friendly;
Government Support to Investors:
  • Speedy acqusition & transfer of land to projects;
  • Provision of external infrastructure including roads public transportation, education,
    health care, housing and training facilities;
  • Facilitate project implementation through single window mechanism;
  • Attractive Incentives Package;
  • Funding support through equity participation;
Implications of the New Industrial Policy

The winds of change in the government of India's industrial policy has had a dynamic impact on the industrial climate of the state and today Tamil Nadu is poised its vanguard positon in the business and industry . This is no idle boast . Already Tamil Nadu has moved to the third place in its bid to attract foreign investments approved between August 1991 to January 1997 was Rs.54.7 billion in 812 projects. And given its favourable industrial climate Tamil Nadu's importance as an investment the destination will continue to attract attention. Three major factors have contributed to the emergence of Tamil Nadu's economic development.
These are availability of sound all-round infrastructure, as well - established industrial culture and most significantly , a remarkable political stability as compared to the most other states. This is reflected by the fact that foreign investment apart there has been an intriguing influx of domestic industrial establishments in the state including investments from other state in India.

The industrial policy of Tamil Nadu's government is essentially need-base. In its larger perspective it takes into account the promotional role of the government and the importance of motivating entrepreneurs by providing adequate and timely incentives . The government is deeply committed to bringing about a harmonious development of both large and small industry sectors one contributing to the growth of the other.

A number of steps have been taken to boost the development of industry in the state . In the last four years a number of new industries have been announced and all procedures have been simplified.Single window committees have been set up to assist small industries to secure and obtain statutory clearances for starting industries . In addition a statutory single window authority at the district level has been constituted to oversee and direct all clearances expeditiously.

The main objectives of state government in its bid to be the leading industrial state are as follows:

  • to set up industrial estates and to encourage the setting up of private and co-operative industrial estates;
  • to accelerate industrial growth and to maximise production and productivity;
  • to assist private entrepreneurs with the technical know-how to provide adequate measures;
    for infrastructural facilities and raw materials;
  • to ensure standardisation, quality control, industrial research and transfer of technology;
  • to provide small scale and cottage industrial with credit facilities to promote industrialisation in the backward areas, thus paving the way for balanced regional growth;

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