ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Chafing under Curbs

Chafing under Curbs

Chafing under Curbs Hansavivek GREAVES COTTON has several plans for expansion and diversification of existing units and for establishing new industries to substitute sophisticated products at present imported, The fate of these projects, however, hangs in the balance owing to the new industrial policy which is concerned about the concentration of economic power. L M Thapar, chairman, complains that the concept of larger houses and industrial units is vague and ill-defined, no account being taken of the number of small units supplying materials and components to the big business, He says his company, together with its associated and subsidiary manufacturing units, has been supporting 1,087 small- scale units which, last year, supplied products worth over Rs 160 lakhs. He deplores that Government has failed to heed the world-wide experience that new entrepreneurs and small-scale industry grow most rapidly in a favourable business climate resulting from the substantial expansion in investment and production of the pace-setting larger organisations. Thapar points out that, while larger units are debarred from undertaking diversification and balanced growth they are encouraged by an odd 'quirk of logic to launch really large projects which, if successful, will make them even larger.

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