Chief Minister V Narayanasamy today unveiled new industrial policy for 2016 in the assembly and said it was framed on the lines of the new policy initiatives of the Central government across the country. The Centre has made a new approach towards growth of industries and adopted several new strategies like Make in India, Startup India, Standup India and Ease of doing business". The new policy is expected to make Puducherry a preferred industrial investment destination and envisages strong and specific initiatives to ensure timely and hassle free guidance and clearances to new entrepreneurs. There will be a specific monitoring mechanism with provision for regular assessment of the working of the policy` he said. The new industrial policy envisages capital investment subsidy for new units and for expansion of existing industries. Medium and large enterprises would get 35 per cent investment subsidy subject to a maximum of Rs 35 lakhs. Women entrepreneurs and also those belonging to Scheduled Castes and tribes would be sanctioned forty percent subsidies on investments made on land, building, plant and machinery subject to a maximum of Rs 75 lakhs. The policy has also a slew of concessions and subsidies under categories of power, pollution control equipment and technology acquisition categories and also for skill enhancement funds.