Close X
Thursday, October 24, 2024
ADVT 
India

Punjab CM seeks incentives for industry on par with hill states

Darpan News Desk IANS, 23 Oct, 2024 01:31 PM
  • Punjab CM seeks incentives for industry on par with hill states

Chandigarh, Oct 23 (IANS) Presenting Punjab's industrial growth before a team of NITI Aayog, Chief Minister Bhagwant Mann on Wednesday sought incentives for industry of the state on a par with neighbouring hill states.

Addressing the gathering during the inaugural session of a workshop on MSME exports as drivers of growth for Punjab, the Chief Minister said that "it is the need of the hour to give subsidies and incentives to the industrialists of Punjab on a par with the hill states".

He said Punjab being a border state should be given the status of ease of business on lines of hilly states.

"This will help ensure comprehensive industrial development as the state has lagged in industrial growth due to incentives to hill areas," he said.

Describing MSMEs as the backbone of the state’s economy, the Chief Minister said the government and MSMEs would have to come together and work as a team for the exponential growth of the state. He invited the captains of industry to take advantage of the initiatives of the government of Punjab to become globally competitive and shine on the world's centre stage.

Mann said that Micro, Small and Medium Enterprises (MSMEs) play a crucial role in the growth of the economy contributing significantly to Gross Domestic Product (GDP), Gross Value Added (GVA), employment generation, and exports.

In his address, NITI Aayog Vice-Chairman, Suman Berry, said the state has a huge opportunity to excel in the MSME sector. He said the time has come when the relationship between the agrarian and industrial sectors is made productive in the state. He batted for an integrated strategy for these sectors for the holistic development of the state’s economy. He said Punjab is rapidly growing in the industrial sector but more can be done in this regard. He said faster, better and cleaner should be the three characteristics of development in the state during the coming times.

Mohali is a perfectly feasible location for the IT sector and professionals, he said, adding that he hoped that deliberations would be a huge success for the state.

MORE India ARTICLES

Indian economy shows signs of speeding up as rural demand surges: RBI

Indian economy shows signs of speeding up as rural demand surges: RBI
With rural spending outpacing urban segments, the rural-urban divide is narrowing, as the recent monthly per capita consumption expenditure (MPCE) survey of the NSSO highlights. This is on the back of rising fiscal transfers, an increase in the wage rate as typified by the MGNREGS and the rising volumes of remittances to rural households due to urban migration.

Indian economy shows signs of speeding up as rural demand surges: RBI

ED raids multiple premises in Nalanda in money laundering case

ED raids multiple premises in Nalanda in money laundering case
Separate teams of the Enforcement Directorate (ED) on Thursday conducted raids at four places in Bihar’s Nalanda district as part of a money laundering investigation related to cryptocurrency. According to sources, individuals involved in the racket used a gaming app called FIEWIN to dupe people.

ED raids multiple premises in Nalanda in money laundering case

Wanted criminal part of Rohit Godara gang arrested from Italy

Wanted criminal part of Rohit Godara gang arrested from Italy
Amarjeet Bishnoi, a key member of the Canada-based Rohit Godara gang, has been arrested from Italy after he was detected there by a special team of the Anti-Gangster Task Force (AGTF) in Rajasthan. Bishnoi, who was carrying a reward of Rs 50,000 on his head, has been arrested from Trapani, a small fishing village in Sicily.

Wanted criminal part of Rohit Godara gang arrested from Italy

Trump incident sparks safety debate for PM Modi amid growing ‘political hostility’

Trump incident sparks safety debate for PM Modi amid growing ‘political hostility’
Analysts are now evaluating the ramifications of the recent assassination attempt on former US President Donald Trump. There is a growing perception that such incidents reflect a trend where individuals resort to violence to amplify their voices, supported by certain segments of the political class driven by personal agendas.

Trump incident sparks safety debate for PM Modi amid growing ‘political hostility’

Piyush Goyal holds talks with UK and EU on free trade agreements

Piyush Goyal holds talks with UK and EU on free trade agreements
Union Minister of Commerce and Industry, Piyush Goyal, held bilateral discussions for deeper economic ties and moving ahead on free trade agreements (FTAs) with his counterparts from the UK and EU on the sidelines of the G7 trade ministers’ meeting at Reggio Calabria in Italy, an official statement said on Wednesday.

Piyush Goyal holds talks with UK and EU on free trade agreements

IANS Interview: PM Modi wants India to become a 'developed society' by 2047, says Niti Aayog Vice Chairman

IANS Interview: PM Modi wants India to become a 'developed society' by 2047, says Niti Aayog Vice Chairman
Following the release of the International Monetary Fund (IMF) report that reiterated India’s position as the world’s fastest-growing economy, Bery discussed strategies for growing the nation into a developed society by 2047, working with the private sector, the role of agriculture, development of states, and lessons for the Global South from India’s experience.

IANS Interview: PM Modi wants India to become a 'developed society' by 2047, says Niti Aayog Vice Chairman