Punjab CM Urges NITI Aayog for Industrial Incentives to Boost MSME Growth and Exports

ENA MSME 2024-10-24 15:12:13 Chandigarh, Oct 24 (KNN) Presenting a compelling vision for Punjabs industrial growth, Chief Minister Bhagwant Singh Mann urged the NITI Aayog to extend incentives for Punjabs industries on par with neighboring hill states. He emphasised that such support is essential for boosting industrial development, given the states unique challenges as a border region. Addressing the inaugural session of the workshop MSME Exports as Drivers of Growth for Punjab, Mann argued that Punjab should receive equal subsidies and incentives as the hill states. He noted that past policies favouring hilly regions had hampered Punjabs industrial progress, but parity in incentives would help ensure holistic growth. Punjab being a border state deserves ease of business status similar to that of the hill regions, Mann stated. This will promote comprehensive industrial development and provide our businesses the competitive edge they need. In a significant announcement, the Chief Minister revealed that the Punjab government is ready to hire trains exclusively for local entrepreneurs to facilitate the movement of goods. Mann explained that this initiative would allow manufacturers to ship products economically to key destinations, such as the Kandla port, enhancing profitability and easing logistics for exporters. The Chief Minister stressed the need to boost trade and commerce in the state, describing Micro, Small, and Medium Enterprises (MSMEs) as the backbone of Punjabs economy. He emphasised the importance of collaboration between the government and the private sector, urging industry leaders to capitalize on the states new initiatives to become globally competitive. MSMEs are crucial for the economic growth of Punjab, contributing significantly to GDP, GVA, exports, and job creation, Mann said. These enterprises embody the entrepreneurial spirit that powers Indias economy and have grown into powerful engines of growth over time. Punjab, with nearly 2 lakh MSMEs, plays a key role in generating employment and fostering industrial growth. Mann invited business leaders to leverage government initiatives designed to enhance their global competitiveness, positioning Punjab on the worlds industrial stage. This call for enhanced incentives, coupled with practical support like exclusive train services, underscores the state governments commitment to fostering an environment conducive to business growth and economic expansion. (KNN Bureau) 39691 https://knnindia.co.in/news/newsdetails/msme/punjab-cm-urges-niti-aayog-for-industrial-incentives-to-boost-msme-growth-and-exports 2024-10-24 15:12:13 knnindia.co.in Punjab CM Urges NITI Aayog for Industrial Incentives to Boost MSME Growth and Exports