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Friday, October 30th, 2020

PHD Chamber-New Industrial Policy, Punjab New Industrial Policy To Put Punjab On Growth Trajectory: Phd Chamber

Rajiv Bali, Chairman, Punjab Committee, PHD Chamber of Commerce and IndustryINVC, Chandigarh, Indicating that the new industrial policy announced by the Deputy Chief Minister of Punjab Sukhbir Singh Badal today shall put Punjab on growth trajectory and would attract investors not only from within the state, but from outside also, PHD Chamber has welcomed the much awaited New Industrial Policy of Punjab.  “The new policy, which is proactive, progressive, practical, and R S Sachdeva, Co- Chairman, Punjab Committtee, PHD Chamberincentive-based”, said Rajiv Bali, Chairman, Punjab Committee, PHD Chamber, “shall definitely usher in rapid industrialisation of the state.”  “Electricity duty, property tax and stamp duty incentives offered to all sectors, 100 percent VAT and CST  exemption in electronics hardware and IT segments, exemptions  up to 80 per cent of the amount payable being offered to the manufacturing sector, textiles, agro and food processing sector, shall definitely encourage investment herein” said R S Sachdeva, Co-chairman, Punjab Committee, PHD Chamber. “Electricity duty, Dalip Sharma, Regional Director, PHD Chamberstamp duty and property tax incentives to SMEs shall definitely give the much required boost to the small and medium units”, said Dalip Sharma, Regional Director, PHD Chamber. “It being a land locked state, the policy shall definitely go a long way in promoting the knowledge based IT/ ITES industry”, said Sharma adding that the incentives to agro and food processing industry in the agrarian state are also a welcome step for the best utilisation of the agrarian produce. However, said Sachdeva, “With a very proactive policy in place, concerted efforts are pertinent for its apt implementation.” The Single Window system has to be made strong, transparent, and time bound, reiterated Sachdeva. Indicating that the policy has lot to offer to the new and upcoming industry to attract fresh investment, Sachdeva added that owing to the land scarcity, the already existing industry too could have been extended some incentives for expansion.

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