SMEs are the industrial future of Bengal, says Assocham

With land being the biggest challenge for setting up large industries in West Bengal, future industrial growth of the state would be driven by the small and medium sector which also has large potential for generating employment, industry chamber Assocham said today.

"Land is a challenge in West Bengal. Large-scale units need huge tracts of land. So, the only way out is to promote the growth of small and medium enterprises which also do have a big employment potential," Assocham National Vice-President Sunil Kanoria said.

The state also has less non-fertile land compared to others where most of the land was barren, Kanoria told reporters here ahead of the chamber's managing committee meet.

Kanoria said, "Assocham had suggested that industrial estates be set up to house small and medium units and the Centre should grant exemption of minimum alternate tax and dividend distribution tax to the facilities located within.

The chamber said that the West Bengal government could also extend tax incentives which might include interest subsidy and drawback on electricity duty.

ALSO READ

Govt may appoint 6-7 merchant bankers to manage CIL stake sale

Diesel demand to pull down May exports by 30%

Factory output rebounds to 2.5% in March, grows a tad 1% in FY13

India's wholesale price inflation probably eased further in April