INVC NEWS
Mumbai,
Hon’ble Chief Minister of Punjab Capt. Amarinder Singh today said the state offers the right atmosphere and a level-playing field to invest in Punjab. “Government of Punjab is doing all it can to make it easy for industry to come to Punjab,” the CM said.
Punjab Chief Minister unveiled ‘Punjab Industrial and Business Development Policy 2017’ and said the state government’s thrust sectors would get 100 per cent exemption from SGST. The thrust sectors for Punjab government include high-tech manufacturing, apparel and made-ups, technical textiles, footwear and accessories, food processing, electronics, electronic service industry.
Addressing the session, Mr Krish Iyer, CEO, Walmart India President, recounted the global retail giant’s beginning in India from Amritsar in Punjab. He complemented the state government for its e-governance system and said the single-window system was very effective. Mr. Iyer said “retail drives consumption… and consumption drives manufacturing. Hence retail sector is the biggest job creator and can help in realizing the ‘Make in Punjab’ dream of the state government.” In its 8th year in the state, Walmart has opened its 2nd store in Amritsar, while exploring opportunities to open a third one. It has also signed MoU to start 15 stores in Punjab.
Mr Rakesh Kumar Verma, CEO, Punjab Bureau of Investment Promotion, and Secretary Industries, Commerce and IT, Government of Punjab made a presentation on Investment Climate Policies & Investment Opportunities in Punjab. Outlining the industrial development plan for the state, he said, “The six pillars of Punjab’s industrial policy are Infrastructure, Power, Development of MSMEs through single-window clearances, a boost to start-ups and budding entrepreneurship, skill development and Ease of Doing Business. These pillars will help accelerate growth and pave way for a strong state, possible investment opportunities and overall development of the state.”
Mr Manpreet Singh Badal, Finance Minister, Punjab, also spoke on the occasion.
