Huge opportunity ahead as firms trying to shift from China: Capt

Says 78% of industries have opened in Punjab and 68% of labour has stayed back

Indicating huge opportunity of idustrial growth in India in view of the increasing number of companies looking to shift from China, Punjab chief minister Captain Amarinder Singh on Friday assured the industry of his government’s full support to ensure 100% operationalisation over the next few days

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Interacting with Industry stalwarts through a video-conference, Amarinder took their suggestions into account to facilitate the revival of the state’s economy post Covid lockdown.

The CM thanked the industry for taking on the difficult challenge of resuming operations in the midst of the pandemic.

With 78% of industry already having resumed operations and 68% of the migrant labour choosing to stay back in the state, the CM directed the industries department to expedite the process of providing clearances and ensuring further ease of business to bring back the industry back on track.

Exuding confidence of early resumption of the remaining industry over the next few days, the CM said no train has left with migrant labour from the state on Friday, which was a good sign and indicative of the fact that the workers were satisfied with the arrangements made for their care during the curfew/lockdown.

Earlier, leading industrialists suggested various short-term measures to support the economic revival of the state. Representatives from a wide spectrum of sectors, including manufacturing, IT, start-ups, agriculture, healthcare & pharma, education & skill development, media, real estate & tourism, came out with general and sector-specific recommendations to put industrial growth in Punjab back on track.

Besides seeking permission for technological upgrade of industry in the red zones to ensure continuity of operations, Sushen Mittal, director of Aarti Group, which has already tied up with Tata Steel to start a scrappage plant by the end of the year, also underlined the need for a formal scrappage policy.

Monte Carlo Fashions Ltd executive director Rishab Oswal was in favour of waiver of fixed electricity charges, in addition to formulation of an Industrial Park Policy for within the local government areas.

Gaurav Munjal, managing director of Hero Ecotech Ltd, suggested reduction of GST from 12% to 5% on cycles, and urged the state government to raise the issue with the GST Council.

Komal Sharma Talwar, a woman entrepreneur representing TT Consultants, called for amendment to IT Park Policy to provide relaxations with respect to property auctions, ownership transfers, right to sell property etc.