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HindustanTimes Sun,13 Jul 2014

New industrial policy to be notified soon: Mittal

HT Correspondent, Hindustan Times  Chandigarh, November 05, 2013
First Published: 19:55 IST(5/11/2013) | Last Updated: 19:56 IST(5/11/2013)

Punjab's new industrial policy, aimed at giving a boost to industrialisation, would be notified soon. Stating this on Tuesday, industry and commerce minister Madan Mohan Mittal said the state government would provide tax incentives and exemption in electricity duty, stamp duty and property tax to attract new industries to the state.

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Mittal added that the state government was trying to attract the industry and approaching top industrial houses of the country. A delegation led by deputy chief minister Sukhbir Singh Badal had recently visited cities such as Bengaluru and Mumbai in this regard.

He said Korean companies were also showing keen interest in investment in Punjab as the Reserve Bank of India had declared the state as the third best investment destination in the country. He said the first Progressive Punjab Global Investors' Summit would be held at Mohali on December 9-10.

During the summit, the state would showcase the strengths which make it one of the most favoured destinations in India, said Mittal. He said top industrial houses had given their consent to take part in this event.

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