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State to be more investor-friendly

Elamaram Karim says State's industrial policy is pro-public sector.

Elamaram Karim says State's industrial policy is pro-public sector.  

Special Correspondent

Cabinet approves industrial policy

The Government's industrial policy approved by the Cabinet on Wednesday envisages turning the State more investor-friendly than at present by strengthening the single-window system to remove bureaucratic hurdles before the investors.

Briefing the media about the policy, Industries Minister Elamaram Karim said a State High-Level Clearance Committee with the Chief Minister as the chairman would accord clearance to proposals involving investments exceeding Rs.25 crore on plant and machinery.

Another State-level committee with the Principal Secretary for Industries and Commerce would have this responsibility in the case of proposals entailing lesser investments. Both these committees are to be constituted.

The policy was pro-public sector. If the approach of the earlier Government was to unburden loss making public sector units, the policy now would be to turn them around by upgrading technology, diversified activities, better management and finding areas of synergy with other public sector units under the State Government and the Centre, Mr. Karim said.

Mineral sand mining would be retained exclusively in the public sector. The Government would develop a chain of titanium industries "as forward integration" using state-of-the-art technology with the support of the Union Government and international organisations.

The international container terminal at Vallarpadam, the deep-sea port at Vizhinjam and the liquefied natural gas terminal in Kochi were mega projects holding great promise for the all-round development of industry and commerce in the State. The Government would work to equip the State in harnessing the potential of these projects to the maximum.

In infrastructure development, the policy stressed the need for public-private partnership and also techno-managerial efficiencies associated with private sector.

The private partners for such ventures would be selected through "a transparent and open bidding process."

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