Winsome to set up new textile unit at Baddi

Shimla: Withdrawal of tax incentives having led to a trickle in new industrial investment proposals; at a high level meeting, the state government here today cleared 13 industrial expansion proposals that are expected to generate employment potential.

Presided over by chief minister Prem Kumar Dhumal, the state level single window clearance and monitoring authority approved the expansion or revision plans of existing units which is expected to attract Rs 211.31 crore of fresh investments.

Sources in the industry department disclosed that expansion proposals of construction material manufacturer Pidlite and pharma unit Hetro Drugs were among those that were cleared at today meet.

A proposal by Winsome Textile to set up a new unit at Baddi was the sole new investment proposal that the high level authority approved.

Speaking at the meet the chief minister said that all expansion proposals that had come into production before withdrawal of the special industrial package were eligible for tax benefits.

To boost industrialisation in hill states of Uttarkhand, Himachal Pradesh, Jammu & Kashmir and the north eastern states, former prime minister Atal Bihari Vajpayee had announced excise and income tax holiday for a ten year period (2003-13). The package also entailed and capital subsidy.

With new industries making a beeline to Himachal Pradesh and Uttarakhand coupled with pressure from neighbouring states, the UPA government curtailed the package for these states, ending the tax holiday in March 2010.

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