PUNJAB TO BE DEVELOPED AS LEADING INDUSTRIAL STATE IN THE COUNTRY

Jalandhar,
Secretary Industries & Commerce Punjab Mr. RK Verma today said that the new Investor friendly Industrial Policy of the state aims at firming up an investment worth Rs 5 lakh crore in Punjab in coming five years.

Interacting with the industrialists during Power point presentation of the newly notified Industrial and Business Development policy 2017 here today, Mr. Verma said that the state government led by the Punjab Chief Minister Captain Amarinder Singh was committed for developing state as an Industrial friendly hub. He said that to achieve this mission the new industrial policy aims at maximizing the investments in the coming five years. The Secretary Industries said that the state government has decided to incentivize the local industries of Punjab through this policy for their holistic development.

Mr. Verma said that the New Industrial policy has been drafted in due consultation with the entrepreneurs. He said that for drafting new Industrial policy suggestions were sought from the business tycoons. The Secretary Industries said that the Industrialists had submitted around 180 suggestions for the policy out of which the state government has incorporated 170 in the current Industrial policy. He said that the basic motive was to ensure that a pro-investor industrial policy was drafted so that Industrialization could be given a major push in the state.

Mr. Verma said that besides firming up an investment of Rs 5 lakh crore in next five years the industrial policy also aims as making Punjab the leading industrial state in the country. Terming Power as the engine of industrial growth, the Secretary Industries said that Punjab was having robust power infra structure. He said that the decision of the state government to give regular and uninterrupted power at a rate of Rs 5 per unit to the industrialists would go a long way in giving a major fillip to the industrial development.

Likewise, Mr. Verma said that in another major initiative aimed at ensuring transparency in the entire system the state government has also decided to give all the services and the permissions to the industrialists online. He said that now single window system would also be implemented at the district level adding that now a number of permissions would be given at District level by a committee headed by Deputy Commissioner. The Secretary Industries said that this would help in streamlining the affairs besides facilitating the industrialists.

Speaking on the occasion, Managing Director PSIEC Mr Rajat Aggarwal informed that the state government has sent proposal of industrial infrastructure under IID scheme adding that Government of India has already approved it. He said that soon Rs 10 crore would be released for development of Focal Point Jalandhar.

On the occasion General Manager Industries Jalandhar Mr. Mahesh Khanna said that the Punjab government today inked 25 Memorandum of Understanding with the industrial units thereby firming up an investment of 336 crore with a prospective employment opportunity of 6000 people. He said that today MOUs have been signed with industrialists in field of hand tools, auto parts, leather accessories and others. He said that the new investment friendly Industrial Policy of the state has been notified and it would give boost to investments in state.