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KSIA hails new industrial policy

MANGALORE: Kanara Small Industries Association (KSIA) has welcomed the State Government's new industrial policy which was announced recently and is come into effect retrospectively from April 1, 2001.

In a press release describing the policy as `a good policy in the present circumstances', the KSIA has said that the policy has extended incentives and concessions for another five years `with the necessary modifications in view of the changing needs of the economy.'

Regarding the special focus in the policy towards the small and tiny industry sector, the KSIA has welcomed the Rs 50-crore technological upgradation fund, continuation of financial assistance towards obtaining ISO certification, establishment of industr ial townships, steps to ensure uninterrupted quality power supply, deregulation of the `business environment', marketing assistance for the SSI sector, subsidy and entry tax exemption for SSIs in export promotion industrial parks, exemption from stamp du ty for all tiny units and SSIs, and the relief package for the revival/rehabilitation of sick industries. -- Our Bureau