NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Narendra Modi
    Amit Shah
    Box Office Collection
    Bharatiya Janata Party (BJP)
    OTT releases
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout

    India
    Business
    World
    Politics
    Sports
    Technology
    Entertainment
    Auto
    Lifestyle
    Inspirational
    Career
    Bengaluru
    Delhi
    Mumbai

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
    Home / News / India News / Punjab CM promises increased support to existing industry, local investors
    Next Article
    Punjab CM promises increased support to existing industry, local investors

    Punjab CM promises increased support to existing industry, local investors

    By Ramya Patelkhana
    (PTI desk)
    Jun 03, 2018
    07:30 pm

    What's the story

    Punjab Chief Minister Amarinder Singh has promised to extend support provided to local investors and existing industry to leverage the state's intrinsic strengths.

    The Chief Minister made this assurance in Chandigarh yesterday during the second round of informal consultations with industry to elicit their views and feedback before finalizing the operational guidelines of the new industrial policy.

    Here's more.

    New Policy

    Policy expected to become fully functional by July 1

    "Time-bound delivery of regulatory and fiscal clearances was the top priority of the Congress government, which was looking at incorporating the concept of deemed clearances to ensure hassle-free business experience," Chief Minister Amarinder Singh said.

    Punjab's new industrial policy, along with the operational guidelines, is expected to become fully functional by July 1 this year, said an official statement released today.

    Details

    Assistance to industries in setting up their units in Punjab

    Assuring all assistance to industries in setting up their units in Punjab, CM Singh welcomed suggestions and directed the Chief Principal Secretary to examine and incorporate the same into the operational guidelines.

    The Chief Minister also urged the industry help complement the state's "aggressive efforts in development and creation of jobs".

    Singh claimed that there was an "improved" investor sentiment in the state.

    Information

    Industry leaders as ambassadors of the state: Singh

    Addressing the industry leaders, CM Singh said it is their shared responsibility to "re-energize and reinvigorate the state infrastructure through industrial revolution so that Punjab could reclaim its place of glory." He described industry leaders as ambassadors of the state.

    Suggestions-1

    Hero MotoCorp's Munjal suggested govt to provide more land

    On the suggestion of Sunil Kant Munjal of Hero MotoCorp that the state government should provide more land to two-wheeler manufacturing units, Singh directed the department concerned to examine the same.

    Kamal Oswal of Nahar Industrial Enterprise Limited suggested full benefits on the modernization of units and enhancement of the land limit for industrial parks from 10 to 25 acres.

    Information

    Extension of benefits to 100% to export units

    Kamna Raj Aggrawal of Engineering Export Promotion Council (North India) raised the issue of extension of benefits to 100% to export units on the lines of the manufacturing industry, which was endorsed by Anoop Bector of Mrs. Bector's Food Specialties Ltd.

    Suggestions-2

    Calls for increase in freight subsidy for transporting finished goods

    Meanwhile, LD Mittal of Sonalika ITL suggested the extension of incentives and benefits to tractor Agri equipment Manufacturers, where GST on input cost was "higher" than that on finished goods.

    Also, Suneet Kochhar of Khanna Papers called for an increase in freight subsidy for transport of finished goods to Kandla, Mundra and Mumbai ports to attract more investors.

    Information

    Vardhman Group's Sachin Jain invites Singh to 'Invest North II'

    Hotel Radisson's Gautam Kapoor suggested incentives for the hotel industry at par with the manufacturing sector. CM Singh also accepted the invitation extended by Sachit Jain of Vardhman Group, to attend the "Invest North II" to be held in Singapore during August.

    Facebook
    Whatsapp
    Twitter
    Linkedin
    Related News
    Latest
    Punjab
    Amarinder Singh
    Hero MotoCorp
    GST

    Latest

    OTT: When, where to watch 'Final Destination Bloodlines' Netflix
    Zimbabwe fall short in Test warm-up against County XI Zimbabwe Cricket Team
    Carlos Alcaraz makes records with 7th ATP Masters 1000 title Carlos Alcaraz
    Beyond 'War 2': Exploring Jr NTR's future in Spy Universe Bollywood

    Punjab

    Strong tremors across Afghanistan-India-Pakistan, Delhi, UP, Punjab affected India
    16-year-old Dalit girl allegedly gang-raped in moving car in Ludhiana Dalit
    In Congress's Punjab, coin toss decides teachers' postings Amarinder Singh
    Woman's hair gets caught in go-kart wheel, scalp ripped off India

    Amarinder Singh

    Congress releases manifesto ahead of Punjab polls Punjab
    Punjab cabinet reveals ambitious roadmap in its first sitting Congress Party
    Sidhu can continue with TV show: States Punjab Advocate General Punjab
    "New" Punjab Assembly: Capt. Amarinder Singh and MLAs take oath Punjab

    Hero MotoCorp

    India: Passenger vehicles reach 3 million mark India
    Indian CEOs take 1,200-times more salary than average staff India
    Hero Electric to launch electric scooter and bikes in India India
    Ahead of RBI policy meet, Sensex rises nearly 100 points Monetary Policy Committee

    GST

    GST among most complicated tax-regimes, but has benefits: World Bank India
    Maharashtra: Jeweller hit by losses due to GST; kills self Facebook
    Mumbai: Sena worker kills self; blames it on GST, demonetization Mumbai
    Thanks to Mumbai's sky-high prices, 1.09 lakh apartments lying unsold Mumbai
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2025