The Bengal government has eased the eligibility criteria for private developers and industry associations looking to set up industrial parks under the Scheme for Approved Industrial Park.

A committee of secretaries under chief secretary H.K. Dwivedi and comprising secretaries from the power, MSME, land reforms, fire and finance decided to reduce the eligibility criteria from a turnover of Rs 2 crore per acre of land to Rs 1 crore per acre, following industry representation.

The initial eligibility criteria was fixed considering the average IGR (Inspector General of Registration) price of land plus the infrastructure development cost. The industry associations and private developers pointed out that the IGR prices were higher than the local market prices.

MSME industry associations have welcomed the decision. “For promoters looking to develop small industrial parks a lower eligibility criteria would make it easier for them,” said Biswanath Bhattacharya, president, FOSMI, Bengal.

FACSI president H.K. Guha also supported the government move.

“This is certainly a welcome decision and may lead to more interest among developers of industrial parks for the MSME sector,” said Rishabh C. Kothari, president, Merchant’s Chamber of Commerce and Industry.

The state cabinet has approved 41 plots of government land for offering to the private developers/associations for setting up of industrial parks under the SAIP scheme. The state government in 2020 had announced plans to set up 100 industrial parks over a 3 year period. But the rate of development has been slow amid the Covid pandemic.