Traders apprise officials of concerns

  • | Tuesday | 5th November, 2019

Tribune News ServiceAmritsar, November 4A day before the two-day Progressive Punjab Investor Summit 2019 in Mohali, senior industry officials interacted with local industrialists during a pre-summit interaction here today. Piara Lal Seth, president of the Punjab Pradesh Beopar Mandal (PPBM), asked the government to considerably increase the budgetary allocation to the industry from Rs 189 crore. The Confederation of Indian Industry (CII) is the institutional partner to the government for organising the Investors’ Summit. Vini Mahajan, Additional Chief Secretary, Industries, said several companies invested more than Rs 50,000 crore in the state in last two years. MLA Santokh Singh Bhalaipura, Industry and Commerce Director Siban C, Amritsar Improvement Trust Chairman Dinesh Bassi, Deputy Commissioner Shivdular Singh Dhillon and MC Commissioner Komal Mittal were present.

Amritsar, November 4 A day before the two-day Progressive Punjab Investor Summit 2019 in Mohali, senior industry officials interacted with local industrialists during a pre-summit interaction here today. Piara Lal Seth, president of the Punjab Pradesh Beopar Mandal (PPBM), asked the government to considerably increase the budgetary allocation to the industry from Rs 189 crore. He flayed the Centre’s move of bunching together 40 Acts under the Code on Wages Bill 2019, which describes all kind of workers as employees. He said as per the Act, which will come into force from January 1, 2020, a firm with 10 or more employees will have to register itself under the Employees Provident Fund (EPF) and gratuity will be payable to them after a year of service, which used to be five years earlier. Kamal Dalmia, chairman of the Focal Point Industries Association (FPIA), raised the matter of either setting up a theme park like Universal Studios of Singapore or Disneyland of California in the holy city to increase tourism. He sought establishment of industrial grievances forum to expeditiously dispose of their grievances. The Confederation of Indian Industry (CII) is the institutional partner to the government for organising the Investors’ Summit. Vini Mahajan, Additional Chief Secretary, Industries, said several companies invested more than Rs 50,000 crore in the state in last two years. Citing the benefits, the state has to offer, she said that Punjab had the highest rail density in India at 45 km per 1,000 square kilometres. The state has two international airports and world-class road connectivity. Industrial and Business Policy 2017 offers attractive incentives for both expansion and new projects in manufacturing as well as service sector for all large, MSME and startups. Rajat Aggarwal, CEO, Invest Punjab, said that with only 1.5% of land area, the state contributes three per cent to India’s GDP as Punjab is home to an estimated two lakh registered MSMEs giving it a strong industrial base. He assured that the department would render complete support to the industry. MLA Santokh Singh Bhalaipura, Industry and Commerce Director Siban C, Amritsar Improvement Trust Chairman Dinesh Bassi, Deputy Commissioner Shivdular Singh Dhillon and MC Commissioner Komal Mittal were present.

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