Punjab to consider further relaxations to industries: Sukhbir Badal

New Delhi/Chandigarh, July 2, 2014: Punjab Deputy Chief Minister Sukhbir Singh Badal today approved a proposal to simplify investment procedure including incentives and relaxations to be given to industrial units setting up shops in Punjab.
Badal while presiding over a meeting with senior officers directed that fiscal incentives should be restructured to make establishment of new industry a win-win situation for both the State and industry. He instructed that restructuring should be done as per the feedback from the industry to consider relaxation in eligibility period, expansion of units, incentives on stamp duty for purchasing of land from PSIEC and other government agencies. Deputy CM also informed that necessary amendments would be made in fiscal incentives for industrial promotion (FIIP).
On the issue of removal of iron and steel industry from the negative list, Badal said that it was also being considered actively and this issue would be resolved amicably at the earliest. He said the ruling alliance was taking this issue on priority keeping in view the interests of investors since it would prove to be a big boon for the all round development of the State.
Focusing on Healthcare and Biosciences, the Deputy CM also affirmed that Punjab would soon attract big investments in fastest growing knowledge based sectors-Healthcare and Bioscience with the availability of pharma and medical technology besides knowledge based eco-system around Mohali.
The Deputy CM said Punjab would also develop as knowledge hub and resource center for related fields besides development of clusters in this regard across the State. He said Punjab has put bio-Science and healthcare sectors on priority as it has huge potential for this including knowledge eco-system at peripheral Mohali, availability of pharma manufacturing around Baddi and availability of medical technology in the state.
Disclosing that GlaxoSmithKline (GSK) and Coca Cola India had mooted proposals for launching their operations in Punjab, the Deputy CM  briefed that preliminary meetings had been held in this regard vis-à-vis evaluation of possibilities of setting up of manufacturing facility. He added that Coca Cola has also decided to setup three plants in Punjab in Hoshiarpur/Gurdaspur/ Pathankot for Northern Region, one at Ludhiana and other at Abohar for Southern region. Badal said Punjab would also explore the plethora of benefits and concessions for big players to invest in these sectors.