Even as the Gujarat Industrial Development Corporation (GIDC) struggles to expand its units in the Vadodara region, private players are setting up industrial parks to meet the requirements of industries seeking to set up plants here, spurred by sops provided by the state government.
Following a government resolution (GR) dated October 2011, at least five industrial parks have come up in the investment regions at Por, Savli and Waghodia. The GR had allowed private players to set up industrial parks with a minimum floor limit of 100 acres, housing at least 30 units each.
“Ancillary units for electrical, electronic and automobile sectors are showing interest in setting up facilities to support companies of these sectors, which are either situated here or plan to come here,” said Kirit Vadalia, who has started three industrial parks, one each at Por, Savli and Waghodia, near GIDC units.
“It is easier to set up industrial parks here than expanding GIDC probably because parks require comparatively smaller chunk of land which can be acquired easily by offering right compensation to the owners. Besides, the government provides sops like rebate on stamp duty,” he added.
Having traditionally attracted investments from chemicals, pharmaceuticals, glass, textiles, fertilizers and petroleum & petrochemicals sectors, the region is now experiencing investments in sectors such as electrical, electronic and automobile, industry insiders said.
According to Industries Department officials, during the recently-concluded Vibrant Gujarat Global Investors’ Summit, private players pledged to open as many as 80 industrial parks across the state. “The government has so far given in-principle approval to 28 parks, a large number of which are concentrated in Bharuch and Kutch. A substantial number is coming up in the Vadodara region as well,” said a department official.
GIDC officials maintained that the Halol-Savli Special Investment Region (SIR), coming up between Halol in the Panchmahals district and Savli in Vadodara, could make it an attractive investment region.
The SIR would be spread over 123 sq km and target industries from engineering, automobile and electronics sectors. It is one of the 13 SIRs proposed by the government.