Punjab govt to focus on reviving existing industry: Official

The Punjab government is focussed on reviving and incentivising the existing industry in its new industrial policy, a senior government functionary said here today.

"From the previous incentive-focused policies, the state government is more focused on reviving and incentivising the existing industry in its new industrial policy," R K Verma, secretary, industries, commerce and information technology said here.

He was speaking at a Confederation of Indian Industry (CII) organised conference on 'Achieving Excellence in Manufacturing Challenges and Opportunities' here.

He said that for the past three months, the Punjab government has been intensely focused on formulating the new industrial policy for the state in collaboration with the industry.
 

"The aim is to revamp industrial and manufacturing sector," he said.

He said that under the new policy, district level single-window systems will be established to facilitate industry units to get all clearances through a designated agency.

"The policy is focused on providing hassle-free services to the existing as well as future industrial units," he said.

For the new industrial policy, the state government has inverted the pyramid by making focus on the micro, small and medium enterprises as the priority sector, followed by the big ones, he said.

The state government will provide infrastructure services, mentorship, credit, and guidance to support the small industries on priority, he added.

"We need to create a culture conducive to nurture start-ups, innovation and entrepreneurship," Verma said.