Focus on agro-processing, SMEs: Assocham to Punjab

Tribune News Service

Chandigarh, May 19

In a joint vision paper released by Assocham and Thought Arbitrage Research Institute (TARI) for the Punjab Government, industry body Assocham has suggested the state’s new industrial policy should focus on agro-processing and MSMEs rather than big-ticket investments. 

“Agriculture and MSMEs have been the strength of the state, so it is imperative to focus on these two sectors. The state should develop labour-intensive technologies for the growth of MSMEs and support with adequate infrastructure to overcome problems of poor labour productivity and obsolete technologies. The state needs to take advantage of natural resources to promote farm products, horticulture, livestock products, textiles, machinery, and food processing etc. since these have strong linkages with the state’s economy,” said DS Rawat, secretary general, Assocham.

The suggestions 

• Financial incentives such as exemption or concessions in stamp duty and property tax should be extended to existing units which are fighting for survival
• Tourism and health are other areas which have a huge potential.