E-Paper
3 industrial units in Ludhiana get benefit of ₹5.94cr under Industrial and Business Development Policy
All new and expansion/modernisation projects can apply on business first web portal and get all regulatory and fiscal incentives online in a time-bound manner
Three units in Ludhiana district received benefits of ₹5.94 crore under Industrial and Business Development Policy, 2017, in terms of electricity duty exemption and reimbursement of stamp duty.
A meeting was conducted with the district-level committee under chairmanship of deputy commissioner (DC) Pradeep Agrawal on Friday. It was attended by Chamber of Industrial and Commercial Undertakings (CICU) president Upkar Singh Ahuja, who was present as a representative from the industry, along with other officials from various departments as designated members of the committee.
General manager, district industries centre (DIC), Ludhiana, Mahesh Khanna said, “Three cases were put up before the committee and approved. In two cases pertaining to M/s Panama Alloys INC, GT Road, VPO- Jugiana, Ludhiana, and M/s Radha Plastic Industries, Fatehgarh Gujjran, Ludhiana; benefits of 100% electricity duty exemption amounting to ₹4.63 crore and ₹1.20 crore, respectively, for a period of seven years was approved. In the third case, a benefit in terms of reimbursement of stamp duty amounting to ₹9.25 lakh was given to M/s SG Multimetals, Bhadla, Ludhiana.”
DC Agrawal said that this will surely boost the morale of the industry and more industrialists would come forward to get the benefits under this scheme. “The policy has multiple benefits and the monitoring of applications is done by the highest authorities of the departments so that the clearances are given on time,” he said.
He said, “All new and expansion/modernisation projects can apply on business first web portal and get all regulatory and fiscal incentives online in a time-bound manner. State government has recently notified an amendment whereby all projects with investment up to ₹10 crore in plant and machinery can be approved by the district-level committee which is headed by the DC.”
Giving further details, he said, “In Ludhiana, 335 applications of fresh investment and upgradation of existing units has been received on the portal till date. The industries department has deputed a business facilitator at the DIC to help the industrialists. For any details, the entrepreneurs can contact the general manager, DIC, Ludhiana.”
