Jalandhar: Secretary Industries & Commerce Punjab RK Verma today said that the new Investor friendly Industrial Policy of the state aims at firming up an investment worth Rs 5 lakh crore in Punjab in coming five years.
Interacting with the industrialists during Power point presentation of the newly notified Industrial and Business Development policy 2017 here today, Verma said that the state government led by the Punjab Chief Minister Captain Amarinder Singh was committed for developing state as an Industrial friendly hub. He said that to achieve this mission the new industrial policy aims at maximizing the investments in the coming five years. The Secretary Industries said that the state government has decided to incentivize the local industries of Punjab through this policy for their holistic development.
Verma said that the New Industrial policy has been drafted in due consultation with the entrepreneurs. He said that for drafting new Industrial policy suggestions were sought from the business tycoons. The Secretary Industries said that the Industrialists had submitted around 180 suggestions for the policy out of which the state government has incorporated 170 in the current Industrial policy. He said that the basic motive was to ensure that a pro-investor industrial policy was drafted so that Industrialization could be given a major push in the state.
Verma said that besides firming up an investment of Rs 5 lakh crore in next five years the industrial policy also aims as making Punjab the leading industrial state in the country. Terming Power as the engine of industrial growth, the Secretary Industries said that Punjab was having robust power infra structure. He said that the decision of the state government to give regular and uninterrupted power at a rate of Rs 5 per unit to the industrialists would go a long way in giving a major fillip to the industrial development.
Likewise, Verma said that in another major initiative aimed at ensuring transparency in the entire system the state government has also decided to give all the services and the permissions to the industrialists online. He said that now single window system would also be implemented at the district level adding that now a number of permissions would be given at District level by a committee headed by Deputy Commissioner. The Secretary Industries said that this would help in streamlining the affairs besides facilitating the industrialists.
Verma said that the policy directly aims at encouraging new investments in the state and reviving the old industrial units. He exhorted the industrialist to associate themselves with ‘Zero Effect, Zero Defect’ Z 54 certification through Government of India’s Ministry of Small and Medium Enterprises. The Secretary Industries said that this would be helpful to the industrialists in improving their product quality on one hand and help in checking the environmental pollution on the other.