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Guj’s new industrial policy likely to be announced in June

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The state’s industrial policy is likely to be unveiled in June this year to attract new investments to the state. The term of the earlier industrial policy 2015-20 had ended in December but the state had extended it upto June owing to the pandemic and the resultant lockdown.

The government had also sought inputs from various sectors and industry associations to come up with the policy. Earlier the state government had formed an Expert Advisory Committee (EAC), headed by Hasmukh Adhia to advise on how to help Gujarat’s economy recover from the pandemic. The policy is likely to incorporate inputs from the advisory committee as well.

The energy sector, service sector as well as manufacturing is likely to be the focus of the policy. It is expected that the policy will provide several concessions to small and medium industries. It is also likely to focus on reducing the unemployment that has resulted due to the pandemic and its impact on the economy. The policy is also likely to focus on renewable energy as well as how to attract investors who wanted to move from China.

One of the feedback that industry has given is that land costs in Gujarat needs to be brought down and clearance for getting land should be sped up. Many of the benefits that are part of the current industrial policy is likely to be continued as well.