Govt seeks investment

GANDHINAGAR, Oct 27: In an effort to attract investment in the industrial sector, the Keshubhai Patel government has decided to organise ...

GANDHINAGAR, Oct 27: In an effort to attract investment in the industrial sector, the Keshubhai Patel government has decided to organise a three-day `Intech Mart’ (investment technology mart) in Ahmedabad on December 4-6, where representatives of about 160 leading industrial houses from across the country will interact with senior government officials.

Over 100 leading investors from different overseas countries will also participate in the three-day interaction programme. Government representatives will apprise the participants of salient features of the state industrial policy.

This was revealed by Industries Minister Suresh Mehta, while addressing a meeting called by Chief Minister Keshubhai Patel here on Tuesday to review the progress of the 15-point action plan announced by the government last July to fight recessionary trends in Gujarat and boost its economy.

Story continues below this ad

Mehta said the government was committed to encourage industries, especially small and medium units. He added that Gujarat State Finance Corporation (GSFC), Gujarat Industrial Investment Corporation (GIIC), and Gujarat Industrial Development Corporation (GIDC) are busy chalking out business action plans to provide a boost to the industrial sector.

The Gujarat Industrial Board for Financial Reconstruction (GIBFR) set up by the government on the lines of the centre’s BIFR to solve problems facing sick units in the state has already started functioning.

The minister said the Gujarat Environment Research Institute (GERI) modeled on the Nagpur-based NEERI would start functioning in the state in the next 10 days, and would mainly deal with environmental problems confronting industries in Gujarat.

Addressing the review meeting, the chief minister said concerted efforts were being launched to achieve a 10 per cent growth target in the agriculture sector in the state. A study group of agricultural experts is also being set up for improving productivity in the agricultural sector, he said.

Story continues below this ad

The government is also planning a meeting with members of the Bankers’ Committee to resolve problems facing people seeking loans from banks.

He directed officials to explore suitable means and ways for the optimum utilisation of surplus funds available with co-operative banks in strengthening the state’s economy. Patel also instructed them to ensure that new industries coming up in Gujarat did not shift to other states.

Additional chief secretary (industry) C.K. Koshi informed the meeting that a survey of damages caused to industrial units by the recent flash floods in Surat was completed, which shows that about 3,000 units had been badly damaged. Out of these affected units, 958 had applied for bank loans.

Finance Minister Vajubhia Vala and Narmada Development Minister Jay Narayan Vyas also made several suggestions to fight the current recessionary trends and boost the state’s economy.