With a vision to foster a progressive, innovative, and sustainable industrial and business ecosystem in the state by transforming it as the most-preferred destination for doing business, Punjab Chief Minister Bhagwant Mann has approved the draft Industrial and Business Development policy. The file to this effect was cleared by the Chief Minister on Saturday.
The Chief Minister has asked the Industry Department to invite comments of the industrial fraternity by uploading the policy on its website — www.pbindustries.gov.in. Suggestions regarding the policy can be sent by email at suggestions.ind@punjab.gov.in and can also be submitted on portal itself, said Mann adding that the policy has been meticulously drafted for giving major push to industrial development, on one hand; and providing employment to youth, on the other.
“Policy aims at promoting Punjab as the preferred Investment Destination by accelerating industrial growth and job creation, besides accelerating growth of Startups and promoting entrepreneurship,” said Mann adding that the policy will also accelerate growth of MSMEs and develop world class infrastructure for the industry, including quality and affordable power.
He said that the policy will also help to have a circular and sustainable economy, attract Rs five lakh crore of investment in five years, increase the share of secondary sector in GSDP to 30 per cent, and tertiary sector to 62 per cent, and increase the employability of the youth through skilling and increase employment opportunities in the State.
“The policy will also facilitate development of at least 15 Industrial Parks in the State, attract at least one anchor unit in various manufacturing and service industry sectors, provide power at affordable and fixed tariff for five years to the industry and upgrade power supply infrastructure to all the industrial areas to provide quality and uninterrupted power,” he added.
The state Principal Secretary, Industries and Commerce, Dalip Kumar informed that the final Industrial and Business Development Policy-2022 will take into account the suggestions of Industry which can submit them at the earliest. “As the new policy has to be notified by October 17, 2022, the industrialists should to send suggestions within a fortnight,” he added.