Punjab seeks sops for industry on par with hill states

Describing MSMEs as the backbone of the state’s economy, the CM said the Punjab government is ready to hire the trains exclusively for the benefit of the entrepreneurs to expand their business.

Chief minister Bhagwant Mann on Wednesday sought incentives and concessions for Punjab’s industrial sector, similar to those enjoyed by hill states.

CM Bhagwant Mann with NITI Aayog vice chairman Suman Bery. (Sourced)

Addressing the inaugural session of a workshop ‘MSME exports as drivers of growth for Punjab’ here, the CM said the border state deserves a special ‘ease of doing business’ status, which would aid in comprehensive industrial development.

“It is the need of the hour to provide subsidies and concessions to Punjab industry at par with hill states,” Mann said adding that the preferential incentives given to hilly regions in neighbouring Himachal and J&K, particularly affects Punjab’s industry which lies in the vicinity of areas like HP’s Baddi and Jammu.

The workshop was jointly organised by NITI Aayog and the Confederation of Indian Industry.

Describing MSMEs as the backbone of the state’s economy, the CM said the state government is ready to hire the trains exclusively for the benefit of the entrepreneurs to expand their business. “This will help in enhancing the profit level of the manufacturers by sending their goods economically to the nearest port,” Mann said.

The CM said the state has a strong base of nearly 2 lakh MSMEs.

“Punjab is the third largest producer of wheat and rice, the largest producer of machine, hand tools and bicycle components, and a leading producer of horticulture crops - mandarin, carrots, muskmelon, and honey,” Mann said, adding that the government is undertaking myriad efforts to foster the investment ecosystem of the state, create suitable employment opportunities for all.

In his address Suman Bery, vice chairman, NITI Aayog, said the state has a huge opportunity to excel in the MSME sector.

“The time has come when the relationship between agrarian and industrial sector is made productive in the state,” Berry said batting for an integrated strategy for these sectors for the holistic development of the state’s economy.

Bery said that Punjab is rapidly growing in the industrial sector but more can be done in this regard. “Faster, better and cleaner should be the three characteristics of development in the state during coming times. Mohali is a perfectly feasible location for the IT sector and professionals,” he said.