Punjab Launches New Industrial Policy Aiming for Job Creation and Growth
Punjab Chief Minister Bhagwant Mann unveiled a new Industrial Policy aimed at expanding the state's industrial base and creating jobs. The policy, developed with input from 24 committees and incorporating 77% of stakeholder suggestions, includes capital subsidies, exemptions for Zero Liquid Discharge systems, and incentives for modernization. It simplifies employment thresholds and offers monthly subsidies for workers, with special incentives for women and industries in border areas. Mann highlighted the upcoming inauguration of a Tata Steel plant as a sign of Punjab's industrial growth.
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Punjab Chief Minister Bhagwant Mann launched a new Industrial Policy in Ludhiana, focusing on expanding the state's industrial footprint and job creation. The policy was created after consultations with 24 committees and incorporates 77% of stakeholder feedback.
Key features include capital subsidies, 100% exemptions on Zero Liquid Discharge systems, and an employment threshold requiring ₹25 crore investment with 50 employees for incentives. Monthly subsidies of ₹3,000 per worker, increasing to ₹5,000 for the IT sector, will be provided.
The policy allows women to work night shifts with security measures and offers a 25% incentive for industries in border districts. Mann also announced the inauguration of a ₹3,200 crore Tata Steel plant in Ludhiana on March 20.
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