THE Punjab government has asked the United Nations Industrial Development Organization (UNIDO) that the new industrial policy for the state must ensure a level playing field to all the industrialists and entrepreneurs, keeping in view the special incentives to the industry in Himachal Pradesh, J&K and Uttarakhand. Punjab’s new industrial policy would be submitted by the end of December this year. UNIDO has been entrusted with conducting a study of the state and assist the state in formulation of new
A delegation led by Dr (Mrs) Isher Judge Ahluwalia of UNIDO on Tuesday met Punjab CM Parkash Singh Badal to discuss the formulation of the policy.
The CM urged Dr Ahluwalia to suggest measures for inviting fresh investments in the state and for revival and upgradation of existing industry in the state by optimum utilisation of the state’s strengths. He pointed out that the new industrial policy should aim at increasing contribution of manufacturing sector to GSDP to over 20% and to increase the growth rate of manufacturing sector to bring at par with national growth rate.
Earlier, taking part in the deliberations, Dr Ahluwalia said Punjab still has a tremendous potential in industry due to its excellent past record and congenial investment atmosphere. To substantiate her claims, she mentioned that Punjab’s growth rate was 6.5% in the 70s as compared to 3.5% of the Government of India. She emphasised on the need for motivating the big corporate houses in auto industry like Mahindra, Ashoka Leyland and TATAs to set up their ventures in the state that would further boost the growth of ancillary units in auto parts industry. Speaking on the occasion, UNIDO representative in India and Head Regional Office for South Asia Philippe R. Scholtes said that Punjab was a vibrant economy and the shift from agriculture economy to industry was the need of the hour