CM bats for incentives for industry of Punjab at par with the neighboring hilly states

Chandigarh, October 23:Presenting a strong case of industrial growth in the state before a high level team of NITI aayog, the Punjab Chief Minister Bhagwant Singh Mann said on Wednesday sought incentives for industry of the state at par with the neighboring hilly states.

Addressing the gathering during the inaugural session of workshop MSME exports as drivers of growth for Punjab, the Chief Minister said that it is the need of the hour to give subsidies and incentives to the industrialists of Punjab at par with the hill states. He said that Punjab being a border state should be given the status of ease of business on the lines of hilly states. Bhagwant Singh Mann said that this will help in ensuring comprehensive industrial development of the state as the state has lagged behind in industrial growth due to incentives to hilly areas.

Describing MSMEs as the backbone of the state’s economy, the Chief Minister said that the government and MSMEs will have to come together and work as a team for exponential growth of the state. He invited the captains of industry to take advantage of the initiatives of Government of Punjab to become globally competitive and shine on the world’s center stage. Bhagwant Singh Mann said that Micro, Small and Medium Enterprises (MSMEs) play a crucial role in the growth of economy contributing significantly to Gross Domestic Product (GDP), Gross Valve Added (GVA), employment generation and exports.

The Chief Minister said that MSMEs symbolize the deeply rooted spirit of enterprise that thrives the Indian economy adding that MSMEs have evolved into strong powerhouses over the years. Bhagwant Singh Mann Says that From traditional artisans to innovative startups, MSMEs are poised for a remarkable future with low capital requirement, high employment generation capability and potential of promoting sustainable economic growth, shared prosperity, and poverty reduction. He said that Punjab has been a front runner state in every field whether it was national freedom struggle, making the country self reliant in food production or safeguarding the borders of the country.

The Chief Minister said that Punjab shares 532 kilometer long border with Pakistan due to which also acts as a line of first defense for the country. Bhagwant Singh Mann said that Punjabis are global citizens who have carved a niche for themselves in every corner of the world. He said given a chance the hard working, innovative and energetic Punjabis can now excel in the field of industry and trade.

The Chief Minister said that Punjab has always been the land of opportunities and enterprise. He said that although Punjab accounts for just 1.5% of the total land area of ​​the country but it contributes nearly 2.5% to the national economy and 1.6% in India’s exports. Bhagwant Singh Mann said that the State has been an important economic growth driver since independence and continues to contribute significantly towards stimulating India’s economy.

The Chief Minister said that the state has a strong base of nearly 2 lac MSMEs which play a crucial role in providing large employment opportunities. He said that Punjab is the third largest producer of wheat and rice, the largest producer of machinery, hand tools and bicycle components, and a leading producer of horticulture crops – mandarin, carrots, muskmelon, and honey. Bhagwant Singh Mann said that it is a matter of immense pride and satisfaction that the state is the source of 95% of India’s woolen knitwear production, 85% of India’s sewing machine production, and 75% of India’s sports goods production.

The Chief Minister said that Sectors like tractors and auto components, bicycle and bicycle parts, hosiery, agro and food processing, agricultural implements, light engineering goods, metal and alloys, chemical products, textiles, IT and Pharmaceuticals and others have the biggest share in the State’s exports. He said that Punjab Government is undertaking myriad efforts to foster the investment ecosystem of the State, create suitable employment opportunities for all, provide access to quality infrastructure, enable greater transparency and accountability in governance while focusing on social upliftment, making steps towards ecological and environmental conservation and ultimately, improving the overall quality of life of its citizens. Bhagwant Singh Mann said that Punjab’s exports stood at $ 6.74 billion in FY 2024 showing an increase of 2.1% adding that top five exported commodities were Engineering Goods (41.15%), Rice (12.79%), Cotton Yarn & Handloom Products 11.54%), Drugs & Pharmaceuticals (7.46%) and Ready-made garments (6.32%).

Listing the initiatives taken by Punjab Government to support MSMEs and boost exports, the Chief Minister said that the state government has notified New Industrial and Business Development Policy, 2022 (IBDP-2022) providing holistic approach, EoDB reforms and fiscal incentives both for the existing and new units. He said that after the implementation of IBDP-2022, Punjab has witnessed a significant surge in investments, attracting Rs 76,915 crore to date. Bhagwant Singh Mann said that Invest Punjab Business First Portal has got ‘Digital India Silver award’ from Hon’ble President of India on January 6, 2023 in the EoDB category by Ministry of Electronics and Information Technology, Gol.

The Chief Minister said that Invest Punjab portal is a comprehensive online platform that offers various services to prospective investors and the government, including application forms, clearances, approvals, and incentive schemes, with over 140 regulatory services from 23 departments. He said that another noteworthy initiative by the Government of Punjab is the Sarkar Sanatkar Milnis held in four districts – Amritsar, Jalandhar, Ludhiana, Mohali during which direct interface took place between government and industrialists. Bhagwant Singh Mann said that Whatsapp Helpline Number was introduced for getting industry suggestions in July 2023 and more than 1600 suggestions were received from the industry.

The Chief Minister said that based on the feedback policy announcements were made to improve the business ecosystem. Appreciating the industrialists about Green Stamp Paper for Registration of Sale Deed with Inbuilt CLU, he Shastri that state government has simplified the process of granting Change of Land Use (CLU) for manufacturing industries, except for Red Category and Hazardous Industries. Bhagwant Singh Mann said that a dedicated Sub Registrar has been deputed to validate online applications, which are then processed within 15 days, and the sale deed with inbuilt CLU is issued online.

The Chief Minister said that to promote industrial growth, an Industrial Advisory Commission has been established to support 26 key industrial clusters in the state. He said that to further strengthen the industrial ecosystem and to cater to the needs of the growing industries in Punjab, various dedicated sector specific parks have been developed by the current government. Bhagwant Singh Mann said that Punjab is encouraging districts to become export hubs adding that exports are emphasized not just to reduce trade deficit but as a mechanism for boosting rural economic growth too, making local products more attractive for consumers across the world and supporting employment generation through empowering of the MSME sector.

The Chief Minister said that District Export Promotion Committees have been set up throughout the state to set up a mechanism to provide continuous facilitation to MSMEs in dealing with the complexities and concerns in the export procedures. Bhagwant Singh Mann said that to make the MSMEs competitive in the global supply chain the government is implementing Cluster Development Scheme for MSMEs by providing them land at reserve price and financial grant from State Government and Center Government for setting up of Common Facilitation Centers. He also said that the state government is making strenuous efforts for women empowerment by making them active partners in social-economic progress of the state.

The Chief Minister said that the state government is ready to hire the trains exclusively for benefitting the entrepreneurs of Punjab to expand their business. He said that this will help in enhancing the profit level of the manufacturers by sending their goods economically to the nearest Kandla port. Bhagwant Singh Mann said that this is need of hour to give impetus to trade and commerce in the state.

On the occasion, the Chief Minister and Vice Chairman of NITI Aayog also launched a booklet to mark the occasion.

In his address Vice Chairman NITI Ayog Suman Berry said that the state has a huge opportunity to excel in MSME sector. He said that the time has come when the relationship between agrarian and industrial sector is made productive in the state. He batted for an integrated strategy for these sectors for the holistic development of the state’s economy.

The Vice Chairman NITI Aayog said that Punjab is rapidly growing in the industrial sector but more can be done in this regard. He said that faster, better and cleaner should be the three characteristics of development in the state during coming times. He said that Mohali is perfectly feasible location for IT sector and professionals adding he hoped that deliberations are huge success for the state.

Prominent among others present on the occasion included Cabinet Minister Tarunpreet Singh Sondh and others.