Punjab CM Mann demands incentives for industry at par with hill States

Punjab CM Bhagwant Singh Mann advocates for incentives to boost industrial growth, emphasizing the importance of MSMEs in the state.

Punjab Chief Minister Bhagwant Singh Mann on Wednesday (October 23, 2024) sought incentives for the State’s industry at the same level seen in neighbouring hilly States as he batted for industrial growth in Punjab before a high-level NITI Aayog team in Chandigarh.

Speaking at the inaugural session of a workshop on ‘Micro, Small and Medium Enterprises (MSME) exports as drivers of growth for Punjab’, Mr. Mann said that it was the need of hour to provide subsidies and incentives to the industrialists of Punjab in a manner similar to the hill States. “Punjab being a border State should be given the status of ‘ease of business’ on the lines of the hilly States. This will help in ensuring comprehensive industrial development of the State as the State has lagged behind in industrial growth due to incentives to hilly areas,” he said.

Mr. Mann said MSMEs were the backbone of the State’s economy, which symbolised the deeply-rooted spirit of enterprise that thrives in Indian economy. “MSMEs have evolved into strong powerhouses over the years. From traditional artisans to innovative start-ups, MSMEs are poised for a remarkable future with low capital requirement, high employment generation capability, and potential of promoting sustainable economic growth, shared prosperity, and poverty reduction. Punjab has been a front runner State in every field, whether it was the national freedom struggle, making the country self-reliant in food production, or safeguarding the borders of country,” he said.

The Chief Minister said Punjab has a strong base of nearly two lakh MSMEs, which play a crucial role in providing large employment opportunities. “Punjab is the third largest producer of wheat and rice, the largest producer of machine [and], hand tools and bicycle components, and a leading producer of horticulture crops — mandarin [oranges], carrots, muskmelon, and honey. It is a matter of immense pride and satisfaction that the State is the source of 95% of India’s woollen knitwear production, 85% of India’s sewing machine production, and 75% of India’s sports goods production,” he added.

Mr. Mann said that to promote industrial growth, an industrial advisory commission has been established to support 26 key industrial clusters in the State. To further strengthen the industrial ecosystem and to cater to the need of the growing industries in Punjab, various dedicated sector-specific parks have been developed by the State government, he said.