Punjab forms 24 advisory panels to boost industry, attract investment

Business Standard

a day ago

The Punjab government on Friday announced the setting up of sector-wise advisory panels which will work towards preparing a roadmap to make the state a hub of industries and commerce.
Chief Minister Bhagwant Mann and Aam Aadmi Party (AAP) national convener Arvind Kejriwal launched 24 industrial advisory committees at an event here.
Addressing a gathering, Kejriwal said that industry leaders will work with the AAP-led state government to shape sector-specific policies to drive growth, job creation and ease of doing business in Punjab.
Kejriwal, former chief minister of Delhi, alleged that before AAP came to power in Punjab, the era was dominated by extortion, where industrialists were coerced by political leaders to give up stakes in their businesses.
As a result, industries fled the state, and Punjab was pushed into a crisis, particularly with the drug menace, Kejriwal alleged further.
Highlighting the progress made since 2022, Kejriwal said the government under Bhagwant Mann has taken revolutionary steps to revive and grow the industrial sector.
He lauded the Fast Track Punjab Portal as India's most modern single-window clearance system, offering over 150 business services and eliminating the need for offline procedures.
Under the Punjab Right to Business Act, Kejriwal said, investment proposals worth up to Rs 125 crore have received in-principle approval within just three days.
He further said the state government has introduced several critical reforms, including colour-coding of stamp papers, a 45-day timeline for granting approvals, and a deemed approval system if timelines are not met.
He emphasised that the government has proactively involved industrialists to shape policies through initiatives like Sarkar-Sannatkar Milnis (Government-Industry Meetings).
Kejriwal said that moving forward, the Punjab government will act upon the decisions taken by these committees.
"This is a reverse trend... now, the government won't dictate terms, but will implement the decisions taken by industrialists through these sectoral committees," he said.
He stated that these committees will also study best practices from other states and replicate them in Punjab to boost industrial growth.
In his address, Mann said Punjab is already taking the lead nationally in various sectors and is quickly emerging as a role model.
Recalling a government-industry interaction held in September 2023, he said the idea of these 24 sector-specific committees was born out of those consultations.
Mann said that these committees will be responsible for drafting detailed strategies tailored to each industrial domain.
The chief minister noted that many industrialists present at the event are also committee members and expressed confidence that these groups will draft the roadmap for Punjab's industrial future.
He asserted that while preparing the new industrial policy, these committees will ensure equal partnership from industry stakeholders.
Mann urged all industrialists to actively contribute ideas and share their valuable suggestions in formulating industry-friendly policies.
According to an official statement, the committee would consist of a chairperson, a member secretary, and officials from the Punjab Bureau of Industrial Investment and District Industries Centres.
Mann said that the state government has ensured representation from large units, MSMEs, sub-sectors, and all regions to ensure inclusive decision-making.
He highlighted that Punjab is already leading in key sectors like food processing, textiles, auto components, hand tools, bicycle manufacturing, IT, and tourism.
Since March 2022, Punjab has received investment proposals worth Rs 1.14 lakh crore, leading to the creation of over 4.5 lakh job opportunities, Mann said, adding that the state has become a preferred destination for global investors, with countries such as Japan, the USA, Germany, the UK, Dubai, South Korea, Singapore, and Spain showing keen interest in the state.
He added that such progress has been possible due to industry-friendly policies, corruption-free governance, and a conducive investment environment.
He asserted that the government believes in walking shoulder-to-shoulder with industry and hence has brought investors and key stakeholders into the policy-making fold.
Taking a dig at previous regimes, Mann said under previous regimes, "entrepreneurs were pressured and exploited. But today, the state has a government of the common people, providing equal opportunities for all".
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