New Delhi -°C
Today in New Delhi, India

Oct 26, 2020-Monday
-°C

Humidity
-

Wind
-

Select Country
Select city
ADVERTISEMENT
Home / Cities / MSME policy a big draw for investors in Mohali

MSME policy a big draw for investors in Mohali

Since the launch of the revised industrial policy, as many as 134 units have registered themselves for starting business here, which is expected to bring Rs 300 crore in investments

cities Updated: Jan 23, 2020, 00:30 IST
Hindustan Times, Mohali

The micro, small and medium enterprises (MSMEs) scheme for the industry is proving to be a big draw for investors in Mohali. In two years since the launch of the revised industrial policy, as many as 134 units have registered themselves for starting business here, which is expected to bring Rs 300 crore in investments.

Major sectors of interest are information technology (IT); agro and food processing; automobiles and auto parts; textiles; engineering; pharmaceuticals; electronics; sports; hand tools; and leather industry; which will be set up in various industrial areas of Mohali.

Harjinder Singh Pannu, general manager, district industries centre (DIC), Mohali, said, “We have given regulatory clearance to most of the units which are in the process being set up. With this, around 50,000 jobs will be created.”

“Moreover, to boost MSMEs in the state, the Punjab government has already launched Punjab MSME Awards,” he said.

Infra, norms conducive to growth

One of the IT investors, who did not wish to be named, said, “Mohali has great potential for MSMEs due to the international airport and proximity of other states. I have already got an approval and the unit will be set up within six months.”

Sibin C, Director Industries and Commerce, Punjab, said, “Mohali is becoming a hub for MSMEs. We are improving the infrastructure in focal points and trying to provide all the facilities to entrepreneurs. Also, under the new Right to Business Act, MSMEs do not need any permission to start initially for three-and-a-half years.”

Under the Industrial and Business Development Policy 2017 of Punjab government, besides having competitive power tariff of ₹5 per unit, MSMEs also get 100% reimbursement of GST incentive for seven years; up to 100% FCI on inter and intra state sales; 100% exemption in electricity duty for seven years; 100% exemption/reimbursement of stamp duty and additional incentives, with a focus on diversification.

Need for more

The industry in Mohali began in 1978 with just 10 units, but today, it has about 10,000 units, including the manufacturing and IT/ service industry. These industrial units fall under three heads – Phase 1 to 4 fall under Greater Mohali Area Development Authority (GMADA), Phase 7, 8-A and 8-B under Punjab Small Industries Export Corporation Limited (PSIEC) and Phase 9 industrial area falls under Punjab Infotech.

Two decades have passed since the industrial focal points were created, but basic amenities are still missing in the area. In the absence proper eating joints and recreational spots in industrial area of Phases 7, 8, 8-A and B, which is being projected as an IT hub, most professionals have no choice but to depend on roadside eateries.

Non-functional streetlights, inadequate parking spaces, choked drains, waterlogging, and heaps of garbage due to lack of a regular clearing system in place, are the bane of the industrial area.

Yogesh Sagar, president of Mohali Industries Association, said, “It is good that more MSMEs are coming up, but at the same time, the state government should improve the basic infrastructure, for which a special purpose vehicle was notified but rejected by the MC. I urge the authorities to sort out the matter for the welfare of industrial areas.”

ht epaper

Sign In to continue reading