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

Addressing the gathering during inaugural session of workshop MSME exports as drivers of growth for Punjab,  the Chief Minister said that it is the need of 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 status of ease of business  on lines of hilly states. 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 state’s economy, Mann said that 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 CM said that MSMEs symbolize the deeply rooted spirit of enterprise that thrive the Indian economy adding that MSMEs have evolved into strong powerhouses over the years. Bhagwant Singh Mann Sais 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 country self reliant in food production or safeguarding the borders of country.

 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. Mann said that State has been an important economic growth driver since independence and continues to contribute significantly towards stimulating India's economy.

 The CM said that state has a strong base of 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 machine, 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 state is the source of 95% of India's woollen knitwear production, 85% of India's sewing machine production, and 75% of India's sports goods production.

Listing the initiatives taken by Punjab Government to support MSMEs and boost Exports, The Chief Minister said that 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.