Home / Knowledge / News / Textiles / Punjab govt announces perks for integrated textile units
Punjab govt announces perks for integrated textile units
Jun '13
The government of the northern Indian state of Punjab has announced liberal incentives for integrated textile units in its new industrial policy.
The new industrial policy offers retention of up to 80 percent in value-added tax (VAT) and central sales tax (CST), as well as complete exemption form property tax, and electricity and stamp duty.
Retention facility allows entrepreneurs to self-asses their own accounts and retain the percentage of VAT and CST as prescribed for the category for a particular period, instead of paying them to the government.  
Announcing the new industrial policy, Deputy Chief Minister Sukhbir Singh Badal said the policy has been framed on the basis of extensive feedback form the manufacturing sector in Punjab.
Terming the new policy as ‘Earn your own incentive’, Mr. Badal said the policy hinges on three points—incentives, simplifying procedures and facilitation. He said Punjab has now become the first state to offer online approvals of new projects in a most transparent manner.
On the basis of current industrial development, the new policy divides the state in two zones.  Zone I consists of lesser industrial developed cities like Tarn Tarn, Gurdaspur, Hoshiarpur, Barnala, Bathinda and Faridkot, while Zone II includes cities like Ludhiana, Jalandhar, Mohali and Nawanshahr.
Integrated textile units coming up in Zone I will get more fiscal benefits compared to those in Zone II.
For the first time, the state’s industrial development policy lays emphasis on development of small and medium enterprises (SMEs), with a capital investment of Rs. 10-100 million. The upper cap for cumulative quantum of incentive under this category is 50 percent of the total fixed capital investment.

Fibre2fashion News Desk - India

Must ReadView All

Indian govt relaxes cabotage rule for cotton transport

Textiles | On 25th May 2018

Indian govt relaxes cabotage rule for cotton transport

The Government of India has relaxed cabotage rules for transportation ...

Courtesy: Teejay Lanka

Textiles | On 25th May 2018

Teejay Lanka doubles production capacity at Indian mill

Teejay Lanka, one of Sri Lanka’s largest textile manufacturers, has...

Courtesy: Messe Frankfurt/Yarn Expo Autumn edition

Textiles | On 25th May 2018

Yarn Expo Autumn 2018 scheduled earlier

Over 500 exhibitors are expected at the Yarn Expo Autumn 2018, being...

Interviews View All

Anshul Sood

‘Indian footwear market is nascent and largely a trend follower’

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search