OBJECTIVES OF KERALA INDUSTRIAL POLICY
The Industrial Policy 2001 aims to accelerate the industrial growth in the State by attracting a steady stream of investment in industry, infrastructure and core strength sectors by creating a congenial investment climate in the State. Considering the constraints that the State faces in increasing productivity and growth in the other sectors, it is the industrial and service sectors that hold out the most promise.
The growth in the industrial sector is contingent on massive investment. Such investment cannot obviously come from the Government’s budget, as it would involve an unbearable level of taxation. The solution lies in attracting private investment into the State by creating an environment that favours such investment.
The ultimate goals of the Industrial Policy 2001 are indicated below:
- Enhanced and sustained industrial growth rate and generation of higher employment in industry.
- Creation and maintenance of an investment friendly climate and facilitation of measures to maximize global and local investment in industry.
- Maximisation of private investment in infrastructure development, with Government investment only in areas/functions where private investment cannot be attracted.
- Elimination of all restrictive labour practices, ensuring cordial industrial relations and establishment of a new work culture, with productivity orientation and productivity-linked wages.
- Special legal dispensation enabling a more liberalized environment within notified industrial zones, parks and estates.
- Nurturing the scarce entrepreneurial talent for the sustainable creation of industrial wealth with special emphasis on technically qualified persons, those from the business community, women and disadvantaged sections.
Empowerment of the traditional sector to face up to global challenges by appropriate technology, productivity improvement, design / development and marketing.
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