Continuing his consultations and engagement with the local industry, Punjab Chief Minister Capt Amarinder Singh has promised steps to strengthen the State Government’s support to local investors and existing industry to leverage Punjab’s intrinsic strengths.
The assurance was made during the second round of informal consultations with the industry on Saturday to elicit their views and feedback before finalizing the operational guidelines of the new industrial policy. The policy, along with the operational guidelines, is expected to become fully functional by July 1, 2018.
Time-bound delivery of regulatory and fiscal clearances was the top priority of the government, which was looking at incorporating the concept of deemed clearances to ensure hassle-free business experience, said the Chief Minister.
Assuring all assistance to industry in setting up their units in state, the Chief Minister welcomed suggestions and directed his Chief Principal Secretary Suresh Arora to examine and incorporate the same in the operational guidelines.
Capt Amarinder urged the industry to come forward to complement the state's aggressive efforts in development and creation of jobs to bring the state back on the track of growth and progress.
It was their shared responsibility to re-energize and reinvigorate the state infrastructure through industrial revolution so that Punjab could reclaim its place of glory, he told leading captains of industry, whom he described as ‘ambassadors of the state’.
He expressed satisfaction at the improved investor sentiment in the state, as evident in the interest shown by major industrial houses in investing in Punjab.
On the suggestion of Hero MotoCorp’s Sunil Kant Munjal that the government should provide more land to two-wheeler manufacturing units, the Chief Minister directed the department to examine the same.
Nahar Industrial Enterprise limited’s Kamal Oswal suggested full benefits on modernization of units and enhancement of the land limit for industrial parks from 10 to 25 acres, while Engineering Export Promotion Council’s (North India) Kamna Raj Aggrawal raised the issue of extension of benefits to 100 percent export units on the lines of the manufacturing industry, which was endorsed by Mrs Bector's Food Specialities limited’s Anoop Bector.
Sonalika ITl’s lD Mittal suggested the extension of incentives and benefits to tractor Agri equipment manufacturers, where Goods and Services Tax (GST) on input cost was higher than the GST on finished goods.
Khanna Papers’ Suneet Kochhar called for increase in freight subsidy for transport of finished goods to Kandla, Mundra and Mumbai ports to attract more investors.Raddison Hotel’s Gautam Kapoor suggested incentives for hotel industry at par with manufacturing sector.
Vardhman Group’s Sachit Jain invited the Chief Minister for the Invest North II to be held in Singapore during August, which Capt Amarinder accepted.