LMA organised seminar on `Status of Industrial Development in Punjab & Way Forward’

Author(s): 

Ludhiana Management Association (LMA) on Wednesday late evening organising seminar on `Status of Industrial Development in Punjab & Way Forward’.

Ludhiana, May 14, 2015: Punjab has huge potential for industrial and agricultural development & used to have more per capita income as compared to country as a whole, and growth rate was also very high, but due to lack of strong industrial development policy and transparency in political and industrial environment, Punjab lags behind as compared to other States especially after economic reforms of 1992 expressed Dr  Sucha Singh Gill, former Director General, Centre for Research in Rural & Industrial Development, Punjab, while addressing members of Ludhiana Management Association at a seminar on `Status of Industrial Development in Punjab & Way Forward’ on Wednesday in Hotel Park Plaza, Ludhiana. He further advocated that strong industrial growth account for more employment opportunities and should be focused on increasing value addition in raw material produce.

Dr Gill highlighted that major challenges in front of Punjab are how to bridge the gap between political environment and policy makers and industrial houses in terms of transparency in system and policy formulation.  He said that monopolization of business opportunities in the newly emerging areas in solar, thermal power, construction etc. by the political elite is also major challenge which social groups need to address.  Dr Gill emphasised that training and skill development of youth, making them partners in development, environmental constraints, unemployment and latest violence are also major issue which need to be tackled to put Punjab State on industrial growth path.

He futher stressed that industrial organisations need to prepare feasibility studies of potential business avenues in processing of agricultural produce for value addition through Universities and Research Organisation. Punjab is a big market and should be exposed to trade with countries like Pakistan for potential development of industry. He is of the strong view that all States bordering with Pakistan should be associated while finalizing trade agreements with Pakistan as they are the stakeholders.

Dr K.N.S.Kang, Sr Vice President, Ludhiana Management Associations  his presidential remarks said that Punjab industrial houses together as a group need to address their issues to government so that amicable solution to various hindrances in industrial development can be identified. He said that Punjab has huge potential of consumer base having strong purchasing power which can be  used by industrial houses by producing and selling goods in the State.

Date: 
Thursday, May 14, 2015