The Government of Punjab has formulated the “
Industrial
Policy 2003” to facilitate the growth of industry in the state. Punjab
is primarily an agrarian state, the future lies in the development of
Industry, by harnessing the synergies in
agriculture and industry through the development of agriculture based industry, by further strengthening base of
manufacturing industries, and by rapid development of service and knowledge based industry. The Government of Punjab is more emphasizing on agriculture
based industries and small and medium scale industries by providing
various incentives to the entrepreneurs so as to facilitate their
growth. To create an atmosphere for industrial development in the state the government has
introduced a liberal industrial policy with the following broad objectives:-
- To create a climate for investment through infrastructure creation reduced regulations and general facilitation.
- To
rejuvenate and make competitive existing industry, particularly in the
small scale sector through improved technology, product quality and
marketing.
- To create a special thrust in the areas where Punjab has an edge in terms of cost and competitiveness.
Areas of industrial growth- Light Engineering Industries
- Textile, Hosiery & Knitwear Industries
- Sports Goods units
- Agro & Food Processing units
- Pharmaceutical industries
- IT and electronic industries
- Tourism