India : Punjab's new industrial policy to boost textile industry

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Home / Knowledge / News / Textiles / Punjab's new industrial policy to boost textile industry

Punjab's new industrial policy to boost textile industry

14
Mar '13

The government of the north-western Indian state of Punjab will be implementing a ‘New Industrial Promotion Policy’ from April 1, 2013, which would greatly boost the textile industry in the state.

Speaking at the North India Textile Conclave 2013, organised by Confederation of Indian Textile Industry (CITI) in Chandigarh, Punjab Deputy Chief Minister Sukhbir Singh Badal, who is also the Minister for Investment Promotion, said the state is now ready to unveil a revolutionary industrial investment promotion policy.

He said the policy has been framed on the basis of suggestions received from a core team of industrial experts as well as the Governance Reforms Commission.

Portraying the textile industry as major catalyst of growth, the Minister said the sector ensures dissemination of wealth among all sections of the society, while generating large scale employment, particularly for women.

Mr. Badal said the new policy would dynamically try to pull investment in all the sectors of the economy, but the promotion of textile industry tops their agenda.

Inviting textile entrepreneurs to set up their units in the state, he promised them a conducive environment for industrial growth, industrial amity and top class infrastructure.

Further, portraying Punjab as country’s best investment destination, he said by December this year the state would become the country’s first power surplus state and would even sell electricity to other states.

In addition to all-round growth, the new policy would also lay emphasis on exploiting the inherent potential of the state, and would present an outline for industrial revolution in the state over the next 25 years, he added.

During a question-answer round, the Minister promised the cotton farmers that the government is under a statutory obligation to provide them with good quality seeds, insecticides, manure, weedicides, pesticides and complete technological support.

He said that he would urge the Vice Chancellor Punjab Agriculture University to initiate a research for developing a disease-resistant cotton variety, so as to double the crop output.

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