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Section of industry announces to boycott Invest Punjab Summit
A section of the industry has decided to boycott the Invest Punjab Summit, to be held on February 23-24 in Mohali, in protest against the new industrial policy unveiled by the Bhagwant-Mann-led AAP government.
Ludhiana
A section of the industry has decided to boycott the Invest Punjab Summit, to be held on February 23-24 in Mohali, in protest against the new industrial policy unveiled by the Bhagwant-Mann-led AAP government.
National president of the All Industries and Trade Forum Badish Jindal said as per new industrial policy, the Punjab government is assuring the investors a refund of 200% of their investment, up to ₹4,000 per month to their workers, power @ ₹5 per unit and exemption of registration and other charges. “If implemented, the new industries will become a reason for the closure of existing industries as with cheap power, labour benefits and refund of investment, the product cost of new industries will be much cheaper as compared to existing industries,” said Jindal.
A number of industry associations in Ludhiana, including Fastener Manufacturers Association of India, Federation of Punjab Small industries, All Industries and Trade Forum and Fasteners suppliers Association of India held a protest against the government on Friday.
The associations in Ludhiana will soon hold a meeting with their counterparts in Jalandhar, Amritsar and Mohali and launch a protest against the government in Chandigarh, said Narinder Bhumra of Fastener Manufacturers Association of India.
Sunil Mehra, state general secretary of the Punjab Pradesh Vyopaar Mandal also condemned the new industrial policy and assured the industry to support in their protests.
