Punjab`s new industrial policy to be notified on Dec 5: Sukhbir Singh Badal
Eyeing major investments from top companies during its `global investment summit` next month, the Punjab government will notify its new industrial policy on December 5, Deputy Chief Minister Sukhbir Singh Badal said on Saturday.
Chandigarh: Eyeing major investments from top companies during its `global investment summit` next month, the Punjab government will notify its new industrial policy on December 5, Deputy Chief Minister Sukhbir Singh Badal said on Saturday.
Badal said Punjab will notify the industrial policy a week before the summit gets underway at Mohali, near here.
Punjab`s industrial policy has received a huge response from the industry sector, Badal said addressing a press conference here.
The state government would provide various tax incentives and exemption in electricity duty, stamp duty and property tax to attract the new industries in the state.
Sukhbir Singh Badal had recently visited various locations like Bengaluru and Mumbai to woo industrial houses to invest in Punjab.
He said the first Progressive Punjab Global Investor`s Summit 2013 which would be held at Mohali on December 9-10 this year, would be showcasing the State`s strengths which make Punjab one of the most favoured destinations in the country.
He said that top industrial houses are expected to participate in this Investor`s Summit 2013. According to Badal, among top business leaders who will take part include the Reliance Industries Chairman, Mukesh Ambani, NRI steel tycoon L N Mittal, Anil Aggarwal of the Vedanta group, top officials from the ITC group and the TATA group, among others.
Badal said the TATA group chairman Cyrus Mistry would have also taken part in the summit, but he had a pre-scheduled engagement at Harvard, USA, during that period.
"Captains of the industry will be there. A lot of investment proposals will be finalised during the investment summit and MoUs will be signed between the government and top company representatives at the spot. We will also have 30 companies from across the world who will be taking part including from Taiwan, Italy, France and USA," he informed.