SPEECH OF MANPREET SINGH BADAL FINANCE MINISTER, PUNJAB ON INDUSTRY, STARTUP AND ENTREPRENEURSHIP
85. One of the most important elements of our strategy to rebuild the state’s
economy, create jobs for our youths, increase incomes and prosperity & consequently
address the social ills of our state is building an eco-system for the industry to expand,
thrive, flourish and create jobs.
86. The State Government is going to offer a new Industrial & Investment Policy
giving special focus on revival of the existing industry. The new policy shall be a radical
departure from the earlier policies ushering bold reforms, restructuring institutions, and
shall present a holistic strategy for industrial growth of the State. Our Vision is to
develop the State as one of the most economically developed States in the Country and
make it the best State for doing business.
87. The new Industrial Policy aims to consolidate and provide further impetus to
manufacturing (Cycle and Cycle Parts, Automobiles and Auto components, Light
Engineering, Leather and Sports Goods, Petro-Chemicals, Secondary Steel, NRSE
Equipment), Textile and Apparel, Agri and Food Processing, IT and Electronics, Life
Sciences and Pharmaceuticals, Aerospace and Defence, Warehousing and Logistics,
Tourism and Hospitality, Entertainment and Film Industry & Healthcare.
88. Industrial Parks and Industrial Estates would be brought under one agency and
all the necessary amenities and common facilities for effluent treatment, design
facilities, convention and exhibition centre, warehousing and logistics services amongst
other facilities will be provided in these estates. A Hi-tech Cycle Valley with state of the
art infrastructure, common facilities will be developed at the cost of ` 400 crore.
89. The State Government has also plans to develop 16 Specific Industrial Parks.
90. Punjab has a strong base of MSME units and they play a crucial role in providing
large employment opportunities at comparatively lower capital cost. The State would set
up a dedicated organisation “MSME Punjab” for developing and upgrading various
MSME clusters to make it a highly vibrant and dynamic sector by providing common
facilities in partnership with SPVs. There is also a plan to set up MSME Facilitation
Councils at regional level at Ludhiana, Jalandhar, Amritsar and Patiala for providing
effective facilitation services to MSME units.
91. New industrial hubs shall be set up in District Sangrur and Ludhiana to provide
developed industrial infrastructure to the new industry and to the existing industry for
expanding their capacity.
STARTUP AND ENTREPRENEURSHIP
92. Startups and Entrepreneurship are crucial for the future growth of State’s
economy. The State will start a Startup movement and Entrepreneurship development
to unleash the creative and innovative streak of its new generation. The state will set up
Technology Business Incubator (TBI) at Punjab Agricultural University (PAU).
Livelihood Business Incubators (LBIs) in 4 districts, namely, Jalandhar,
Kapurthala, Bhatinda and Fazilka.
93. The State also aims to develop industrial infrastructure along the AKIC and also
in the Banur- Shambhu- Ghanaur belt through planning and laying of state-of-the-art
94. Amritsar has long been known as the trading hub of the region and a logistics
hub shall be developed at Amritsar, to restore the prominence of Amritsar as a
95. In order to encourage Women Entrepreneurs, the state shall launch a special
scheme WISH (Women Entrepreneurship, Innovation, Start ups and Handholding) and I
propose to have an initial outlay of `2 crore for this scheme.
96. The industry at Ludhiana has a long standing demand of setting up an exhibition
cum convention centre. An exhibition cum convention centre would be set up at
Ludhiana in PPP mode in partnership with the industry.
EASE OF DOING BUSINESS
97. The State has already set up “Invest Punjab”, a unified regulator vested with the
powers to grant regulatory clearances across 23 departments. The State would further
expand its ambit and provide similar setups at the district level. For this purpose, MSME
Punjab Kendras would be set up that would facilitate Investment Promotion, Regulatory
clearances, Fiscal Incentives to MSMEs, and Start-ups.