Economy & Finance Forum of Vidarbha Industries Association organized a workshop on “Never a Better Time to be an Industrialist” which covered Schemes & Incentives at VIA.
Mr A P Dharmadhikari, Jt Director of Industries, Nagpur was the Chief Guest of the workshop. In his address, he said propagating and appealing industrialists about any Government Schemes and incentives by any Government authority is little difficult and same is advocated by any successful industrialist is more achievable and attract to prospective entrepreneurs. He said running of any manufacturing industry is a noble profession as they are also doing some social cause. Now after implementation of GST and Demonetization, it is even more better.
Renowned industrialist of the Vidarbha region and expert gave presentation on the workshop titled “Never a Better Time to be an Industrialist” Mr Prashant Mohota, Ex–Vice President – VIA and Managing Director of Gimatex Industries, Hinganghat. He began with Indian economy, which is fastest growing economy in the world and GDP annual projection growth is more than 7.5%. He also highlighted about India being estimated to be top 3 economies in the world with $5 trillion economy by 2025 and $10 trillion economy by 2030. Higher young population in India and easier Labour; advantage Vidarbha; low yielding alternate investment avenues has made manufacturing the best option for investment. He discussed various common schemes of central and state Governments for manufacturing industry. He aptly classified his presentation in to set up phase, operating phase along with general precautions to be taken.
Mr Mohota said various alternatives of investments gives low returns on saving schemes, bank fixed deposits, Gold, Cash, Real Estate Schemes, Mutual Funds, stock, ready platform for coming generation, greater autonomy for working, self satisfaction.
He covered and highlighted all the policies which exist for the benefits of setting up of industries and running it smoothly. He also focussed on the various schemes available for Ease of Doing Business in land and building, arranging low cost capital, labour, energy, management system, etc. He discussed sector related schemes like Textiles, Food Industries, Agricultural, Cold Storage, etc. As of now this around 80% of the investment could be the amount of subsidy and incentives receivable in 10 years period. CA Yash Bhojwani and Shivkumar Rao, Director of R&Y Logistics also assisted during the presentation and also shared details of sectoral schemes of Textiles, Food and Agricultures and Logistics. Mohata in his presentation even demonstrated how the incentives could be streached even to 140% of the investment amount.
Mr Atul Pande, President – VIA said this session would be beneficial for audience and people should turn to industry and VIA should extend all helping hands as and when required.
Earlier, Mr Atul Pande, President – VIA welcomed Mr Prashant Mohota and Mr Suresh Rathi, Vice President – VIA welcomed Mr Ashok Dharamadhikari, JDI with floral bouquet. CA Naresh Jakhotia, Jt Secretary – VIA conducted the proceedings and also proposed a vote of thanks. Prominently present were Mr Pravin Tapadia, Past President of VIA, Prof Ashit Sinha, Former Vice President of VIA, Mr Faiz Wahid, Mr Pratik Tapadia, Mr Vishal Agrawal, Mr Rajay Surana and many industrialists attended the program.