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| Kutch: Once a tax haven, now an investment hub |
| 27 January 2017 |
AHMEDABAD: Sixteen years after the killer earthquake of January 26, 2001, Kutch has not only bounced back with commendable rehabilitation of those affected, the district has also transformed itself from tax haven to one of the most preferred investment destinations in Gujarat.
Despite the end in 2010 of the tax holiday announced to attract industries after the quake, corporate giants and small companies have continued to invest, not just to expand their setups but also in greenfield projects, with the availability of vast land parcels, buzzing ports and robust infrastructure.
"Kutch has been a grand success. Earlier, tax incentives attracted many industries to Kutch. Now, it is going to develop as a port-led industrialization hub in the true sense," said Sunil Parekh, an Ahmedabad-based industry expert.
With the likes of Adani Group, Welspun Group, Infrastructure Leasing and Financial Services Ltd (IL&FS), Ultratech Cement, Sanghi Industries Ltd and GHCL Ltd among others lining up with projects, Kutch is expected to witness a whopping Rs 1.5 lakh crore of investment in the years to come. Kutch has been home to many of these firms' ventures for more than a decade now.
Rapid industrialization played a crucial role in the resurrection of the ravaged remote district, where the damage was pegged at over Rs 10,000 crore. Kutch had industrial investment of a meagre Rs 2,500 before 2001. Today, it stands at a staggering Rs 1 lakh crore and the district contributes more than Rs 25,000 crore annually to government coffers in taxes.
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| www.asanjokutch.com....connecting kutchhis globally , from Mumbai |
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