Small scale indsutrial production in Punjab crosses Rs 62,971 cr

Punjab has achieved a new milestone in the small scale industrial sector as the Small scale sector has crossed the production of Rs 62,971.24 crore during the financial year 2012-13 registering an increase of Rs 2,971.24 crore over the last year.

Madan Mohan Mittal, Industry and Commerce Minister, Punjab appreciating the role of small scale industry in the economy of the state said that it was possible due to the industry and trader’s friendly policies of the Punjab government and industry including the small scale and large/ medium scale industry were rapidly growing in the state.

Giving the details of small scale industrial production he said that the record production was achieved due to jump in production in small scale industry which includes eatables, apparels, sports goods, handicrafts, machine tools, auto tools, engineering and electronics products, drugs and spare parts.

According to the information provided by the minister, more than 1 lakh and 70 thousands Small scale industrial units were operating in the state and providing employment to 10, 77616 persons.

Mittal also said that keeping in view the contribution of small scale units in the economy of state, Punjab government has announced various incentives to set up new units worth Rs one crore in new industrial policy, which would further give a big push to this sector.