E-Paper
Admn: 67 new industrial units, ₹14-cr incentives okayed
Incentives totaling ₹1,445.26 lakh have been approved for 29 cases under the Industrial and Business Development Policy (IBDP), 2017, ensuring Ludhiana emerges as a leading hub for industrial development
As many as 67 new industrial units have got in-principle approval under the Right to Business Act, 2020, since April last year, officials said on Thursday. Additionally, incentives totaling ₹1,445.26 lakh have been approved for 29 cases under the Industrial and Business Development Policy (IBDP), 2017, ensuring Ludhiana emerges as a leading hub for industrial development, they said during a district-level committee meeting chaired by deputy commissioner (DC) Jitendra Jorwal.
The committee reviewed applications for in-principal approvals, regulatory clearances and fiscal incentives for establishing or expanding industrial units in the region. DC Jorwal highlighted that the incentives approved under the IBDP, 2017, include exemptions in electricity duty, stamp duty and other fiscal support measures aimed at fostering industrial growth. He also emphasised the simplified approval process introduced by the government, particularly for micro, small, and medium enterprises (MSMEs).
“All new projects, or those involving expansion and modernisation, can apply through the ‘Business First’ portal for regulatory clearances and fiscal incentives. Under the in-principle approval framework, industrial units can begin construction immediately, with formal approvals required within 3.5 years from the date of issuance,” Jorwal stated.
The new approvals are expected to generate thousands of employment opportunities for the region’s youth, officials said.
Officials from key departments, including industry and vommerce, housing and urban development, local government, labour, factories, Punjab Pollution Control Board (PPCB), Punjab State Power Corporation Limited (PSPCL), forest, public works department (B&R), taxation and Punjab Small Industries Export Corporation, hold weekly meetings to expedite statutory clearances and approvals.
DC Jorwal said, “Ludhiana is setting benchmarks for ease of doing business, offering a seamless approval process and creating a conducive environment for industrial growth.”
