Well developed infrastructural facilities make the healthy environment for the promotion of new industries and investment in Kolkata. Availability of skilled and trained human resources plays an advantageous role to establish a new industrial set up in the city. The liberalization in the industrial policy of government of West Bengal by offering attractive incentives to the investors has widened the scope of industrial development in the city.
Connectivity by various means of transport is another important factor to generate the place for industrial development. Kolkata is fortune to be well connected by rail, road and air with major parts of the country and abroad. The city has become an important industrial hub of the country providing enormous opportunities for the investors and job seekers. Kolkata has well equipped key facilities like power, water, road network and communication. The city’s growth in industrial sectors like Jute, Textile, Leather, IT, Electronics and medicines has drawn international attention. Various plans and projects are being carried out to revamp the industrial scenario of the city.
Industrial PolicyThe salient features of the policy on industrial promotion and economic development are to welcome foreign technology and investment, private sector investment in power generation, improvement and up-gradation of industrial infrastructure etc. The thrust areas for special attention are petrochemicals & downstream industries, electronics and information technology, Iron and steel, metallurgical & engineering, textile, leather & leather products, food processing, medical plants, edible oil, vegetable processing and aquaculture, rubber, tea etc. For the purpose of determination of types and quantum of incentive available under this Scheme for the approved projects, according to their location, the State shall be classified in the following groups:
Group - A :Calcutta Municipal Corporation.
Group - B:Hoogly, Howrah, North 24 Parganas, and South 24 Parganas,Districts excluding the area under the jurisdiction of the Calcutta Municipal Corporation;
Group - C:Murshidabad, Birbhum, Midnapore, Nadia and Burdwan Districts;
Group - D:Purulia, Bankura, Malda, Coochbehar, North Dinajpur, South Dinajpur, and Darjeeling Districts.
Incentives offered under Industrial Policy1.Capital Subsidy of 15% or Rs. 1.5 million whichever is less in Group-B, 20% or Rs. 2 million whichever is less in Group-C and 30% or Rs. 3 million whichever is less in Group-D.
2.Sales tax Deferment/Remission on sale of finished goods.
3.Sales tax exemption on raw materials for 5 years in group-B, 7 year in group-C & 9 years in group D for new units.
4.Sales tax deferment for approved new electronics and gems and jewelry units located in Calcutta Municipal Corporation for 7 years. Additional sales tax incentives to tune of admissible capital investment subsidy for 2 years in Group-B, 3 years in Group-C & 4 years in Group-D area.
5.Entry tax/octroi exemption for the first three years of operations.
6.Subsidy of 25%, upto Rs. 1.25 million, on purchase and installation of generating sets.
7.Waiver of electricity duty for new and sick or closed units for 5 year.
8.Development subsidy for hotels, electronics and gems and jewelry units with fixed capital investment of upto Rs. 50 million
9.Approved new projects or expansion projects shall be entitled to allotment of lands & 77% of land value shall be payable in equal annual installments over a period of 5 years in case of Group-B, 10 years in case of Group-C and 15 years in case of Group-D.
10.Subsidy of 75% of cost of feasibility report, upto Rs. 50,000 in most areas
Thrust Areas: Industrial policy emphasize to lay major thrust on the establishment of industries related Coal Mining, Food Processing, Health Related Industries, Jute, Mineral-Based Industries, Steel
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