CII Jalandhar Zone Interactive Session Explores Salient Features of Punjab Industrial & Business Policy 2022

Jalandhar, June 4, 2023: CII Jalandhar Zone organized a highly informative and engaging Interactive Session with Vishav Bandhu, Joint Director - Industries & Commerce, Government of Punjab. The event took place at Hotel Best Western Plus, Jalandhar.

Welcoming the esteemed guest, Amrinder Singh Dhiman, Chairman, CII Jalandhar Zone, expressed enthusiasm for the Punjab Industrial & Business Policy 2022, designed to create a conducive environment for business growth, investment attraction, and innovation. He emphasized the policy's potential to drive economic development and generate employment opportunities in the state.

During the interactive session, Vishav Bandhu highlighted key aspects of the policy. During the interactive session Bandhu appreciated the contribution of CII for framing up of the new Industrial and Business Policy for the state of Punjab. He emphasized the establishment of 15 new focal points and 20 rural industrial focal points by the Department of Industries & Commerce to promote industrial infrastructure in the region. Additionally, he shared that private industrial parks set up by Special Purpose Vehicles (SPVs) with a minimum area of 25 acres can benefit from a 25% capital subsidy (up to a maximum of 25 crore) and a complete exemption from Change of Land Use (CLU)/External Development Charges (EDC). Moreover, he mentioned the Department's collaboration with SIDBI to facilitate low-rate funding for infrastructure development, providing businesses with access to affordable financing for their projects.

The interactive session provided an excellent platform for industry stakeholders to gain insights into the salient features of the Punjab Industrial & Business Policy 2022. The attendees expressed their appreciation for the government's initiatives and discussed potential avenues for leveraging these policies to drive sustainable growth and competitiveness.

While concluding the session Dr Aman Mittal, Vice Chairman, CII Jalandhar Zone and Vice President Lovely Professional University appreciated the New Industrial & Business Policy of the state of Punjab and thanked the Government for giving a special focus to Startups in the Industrial Policy.

On this occasion Vishav Bandhu also awarded Balram Kapoor, Partner, JMP Industries with ZED Gold certificate Award in Auto Parts & Foundry category and also awarded Tushar Jain, Chief Executive Officer, Basant Autotech LLP with ZED Bronze certificate.