Create Chandigarh Capital Region on lines of NCR: PHDCCI official

Neeraj Bagga

Amritsar, December 10

The demand for implementing the ‘One District One Product’ scheme in Punjab is growing with the PHDCCI submitting a report on ‘Emerging Economic and Business Dynamics in Punjab’ to the state government here on Sunday.

Appreciating the Sarkar-Sanatkar Meet held recently, the PHD Chamber of Commerce and Industry Punjab raised the demand for speedy implementation of scheme in the state. This will give a new recognition to the special industries of each district at the global level, they said. The report prepared by the PHDCCI for the economic and industrial development of Punjab was handed over to the ministers visiting the PITEX.

Jaideep Singh, regional coordinator of the PHD Chamber of Commerce and Industry Punjab chapter, said this was a great opportunity for industrialists to share their vision. He said this will provide conducive environment for the industry to flourish and make Punjab a leading industrial state in the country.

Punjab showed rapid economic recovery in the post-pandemic period. Gross State Domestic Product at constant prices grew at 6 per cent in 2022-23. Apart from the share of services sector in GSDP growing from 44 per cent in 2011-12 to 46 per cent in 2022-23, the structural composition of Punjab’s economy has remained broadly the same.

The report stated that there is immense potential for the industrial sector in Punjab. After a decline in industrial growth for some years, it accelerated from 0.31 per cent growth in 2020-21 to 7 per cent in 2021-22. Punjab’s industrial sector will grow at the rate of 4 per cent in 2022-23.

The PHD Chamber of Commerce and Industry submitted proposals to the government regarding the formation of a Chandigarh Capital Region, saying that a high-level committee under the chairmanship of the Chief Secretary of Punjab and including stakeholders from the surrounding four districts of Mohali, Fatehgarh Sahib, Patiala and Ropar should be formed. Officials from police and development agencies like the Municipal Corporation, GMADA, PUDA, Fire Brigade, PWD and other departments concerned should be a part of planning and developing the area for the next 10 years.

The PHDCCI appreciated the government’s financial management in the post-GST compensation era. The report covers the macroeconomic environment of Punjab, development strategy, recent developments in the economic and business environment, areas of growth prospects and position of Punjab’s economy in comparison to other states. The industrialists have demanded that incentives provided through various means should be increased and infrastructure in the industrial areas of the state should be strengthened so that industrialists can help in delivering their products from one place to another.