Punjab Government is going all out to make the State a favourite destination for food processing industry and a global leader in export of value-added agri-produce.
The Government’s food-processing mantra has received accolades from the World Bank which has given the best ratings to Punjab for doing business.
Armed with its Industrial and Business Development Policy-2017, the state has put its best foot forward providing a favourable environment for industry and business in the state, with trade icons eager to invest in the food processing sector.
Taking a major stride in this direction, the state Industry and Commerce Minister Sunder Sham Arora on Thursday announced that three mega food parks were being set up in ludhiana, Phagwara and Fazilka under the Amritsar-Kolkata industrial corridor.
Also on the anvil are a high-tech manufacturing cluster at ludhiana and an integrated manufacturing cluster at Rajpura, he announced while speaking during the first-of-its-kind Punjab Agri and Food Conclave held in partnership with Confederation of Indian Industry (CII) and Punjab Agricultural University (PAU).
“In the last few months, 150 renowned business houses, including ITC, Pepsi, Mahindra, Godrej, Cargill, Nerolac, Reliance, had invested Rs 7,000 crore in Punjab in the agro and food processing sector,” he said.
He claimed that for more development of food processing sector in Punjab, the government has provided several benefits for such industries in its new Industrial and Business Development Policy-2017.
Giving details of the ease of doing business under the new policy, he said that anyone could avail loans amounting to Rs five lakh to Rs 25 lakh offered by banks for starting their businesses and if they face any issue, they can lodge a complaint with the department and action would be taken accordingly.
He also appealed to the established business houses to come forward to uplift the living standards of the poor people under CSR activity.
On the occasion, 25 Memorandums of Understanding (MoUs) with various entrepreneurs worth Rs 70 crore were signed in the Minister’s presence.
An MoU was also signed between the government and the PAU during wherein the varsity will transfer the techniques to the food industry for the growth of food processing sector. The PAU will offer 50 percent rate discount on its existing facilities for the food industry.