In Mumbai, CM woos entrepreneurs
Thursday, 02/11/2017
http://www.tribuneindia.com/news/punjab/in-mumbai-cm-woos-entrepreneurs/490997.html
Mumbai : Unveiling Punjab’s industrial policy before a gathering of industrialists and businesspersons here today, Chief Minister Capt Amarinder Singh today sought further discussions with entrepreneurs in order to fine-tune the initiatives undertaken by the government.
The Industrial and Business Development Policy-2017, unveiled before a gathering of the business community organised by the Chamber of Indian Industry (CII), offers a number of sops to those investing in Punjab.
Apart from fixing electricity tariff at Rs 5 per unit for five years from today, the government announced that it would refund the state GST paid by companies investing in Punjab.
Other incentives include a one-time settlement of loans taken by companies from the Punjab State Industrial Development Corporation (PSIDC), Punjab Financial Corporation (PFC) and Punjab Agro Industries Corporation Limited (PAIC), according to the policy.
The new policy also comes out with additional incentives for companies investing in border districts, extreme border zone and Kandi areas.
Addressing the gathering of industrialists, Capt Amarinder Singh said the policy had been framed after consultations with industrial associations and officials. He further promised to do more depending on the feedback received by the government. “We are trying to create the right atmosphere here so that you can come and invest in Punjab... We will like to know your views on the policy and will surely incorporate your suggestions,” Amarinder Singh said.
The policy which takes a comprehensive look at various departments promises a single-window clearance to investors.
Special considerations have been given to medium and small enterprises and start-up companies which set up shop in Ludhiana, Jalandhar, Amritsar and Patiala.
Apart from promising to revamp industrial estates in Punjab, the government seeks to set up technology centres and industrial clusters catering to various sectors of businesses.
Among the industries that are being targeted by the policy include manufacturing of e-vehicle, electronics, defence equipment, food processing industries, healthcare, etc.
Meanwhile, Rakesh Kumar Verma, CEO, Punjab Bureau of Investment Promotion, and Secretary, Industries, Commerce and IT, Punjab, made a presentation on “Investment climate policies and investment opportunities in Punjab”.
Manpreet Singh Badal, Finance Minister, also spoke on the occasion.
