The new industrial policy of Maharashtra helps developers of Special Economic Zones (SEZs) de-notify land and set up Integrated Industrial Areas (IIAs) which will allow development of townships, including residential buildings.
Chief minister Prithviraj Chavan said the state hopes to attract automobile and petroleum projects.
The policy, to be in force from April 1, 2013 to March 31, 2018, also seeks to create around 20 lakh jobs and bring in Rs5 lakh crore as investment. Maharashtra has around 24 lakh educated unemployed.
Industry department officials said projects in the ultra-mega slot could ask the government for “customised packages of incentives” like stretching eligibility period for VAT rebate. A cabinet sub-committee, under Chavan, will approve higher incentives, concessions and relaxing of conditions on a case-by-case basis, the officials added.
The industrial policy, approved by the state cabinet on Wednesday, also lays special focus on micro, small and medium enterprise sector which has more employment-generating potential than large industries.
Chavan said the new policy, which seeks to achieve annual growth of 12-13% in the manufacturing sector, aims “to keep growth in double digits”.
Industries minister Narayan Rane said that Maharashtra would see large-scale progress if the number of industries increases and large investment is brought in.
The state’s current mega project policy attracted over Rs2.8 lakh crore investment in the manufacturing sector and created 3.54lakh jobs, with around 75% industries flocking to backward areas. The Centre is targeting India’s manufacturing sector to grow to 28% of GDP by 2022 from the current 16%.
“Maharashtra’s growth has been the fastest in the country. In the past policy, we had planned to attract investments worth Rs. 2,80,000 crore. In this policy, the target is Rs. 5,00,000 crore. We are giving developers a chance to de-notify their SEZs and build IIAs,” said state industry minister Narayan Rane. “This will allow developers to use 60% land within the SEZ area for industrial purpose and 40% land for non-industrial purpose which includes building townships and developing social infrastructure such as schools and hospitals,” he added.
“About 124 SEZs in the state have not really taken off. There are about 29,000 hectares of land. Of this, about 16,000 hectares has been acquired privately so that it can be part of the new IIA, provided all policy conditions are met,” said state industry secretary Manukumar Srivastav.
ULTRA-MEGA PROJECTS
The policy also allows the formation of giant industrial zones which will be categorised as ‘Ultra-Mega Industrial Projects’. Announcing the key features of the new five-year industrial policy, chief minister Prithviraj Chavan said, “The larger goal is to achieve faster economic growth, especially in the manufacturing sector by attracting investment and creating new employment. Manufacturing is expected to grow at 28% by the end of these five years. We are the first state in the country to initiate formation of Ultra-Mega Industrial Projects which will have an investment of more than Rs.1,500 crore and will employ more than 3,000 people in each project.”
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