The Industrial Policy will be operative from April 1998 to March 2003. Its salient features are:
The Industrial Policy shall cover all the new industrial units which may be established in the State, except those in respect of which the promoter may have taken effective steps for implementation of the project, and as such may claim to avail of any benefit under the old Package of Incentives which was in force immediately before announcement of this policy.
The Government shall follow an open door policy for the investors from within the state, other parts of the country as also from abroad, in the last case in accordance with the policies as may be framed by the Government of India from time to time. In addition to the resources of the promoter, his entrepreneurial skills and experience shall be given due recognition by the Government.
For achieving the goal of rapid Industrialisation in the State, the Government has adoped the following strategy:-