Govt should come up with industry-friendly policies

The growth and development of any country or state depend on the core three sectors - primary (agriculture), secondary (industrial) and tertiary (service). These three sectors are dependent on each other. Punjab is predominantly an agricultural state, but Ludhiana district is considered to be the industrial hub and Manchester of India in case of hosiery industry in particular and industries in general. But in the recent past, nearly 17,000 industries have been shifted from Ludhiana due to many reasons. The need of the hour is to focus only on those factors which may be helpful in reviving the industry and also take it to new heights in Ludhiana by keeping in mind the suggestions given under. The government should frame a new industrial policy. There must be a tax holiday for industries for at least five years. Raw material should be imported from neighbouring states where it is cheap. Focus should be on developing food processing industries. Some tool kits should be provided to individuals and other ancillary industries which are supplying raw materials to big industries. More industrial areas or focal points should be established. Infrastructure should be developed. Market should be explored to generate more demand of products produced by industries. There should be no custom duty on imports of machinery from other countries. More focus should be on cost-cutting techniques. Banks should provide loan facilities for both small manufacturing units and big industries at affordable rate and in easy installments.

Dr Mohammed Saleem Farooqui

Industry-friendly policies

Ludhiana is an industrial hub. But the city is facing the worst financial situation. Industries can be revived by many ways. First effort should be done by the government itself by not interfering in the working of any industry and should not be allowed in profit participation. The government is authorised to make rules and regulations of the industry. It should come up with industry-friendly policies and must ensure its effective implementation. Banks and financial institutions should come forward with new loans with easy terms and conditions. The government should try to compensate the losses which occurred due to demonetisation and GST. Ritu Priya

Encourage new start-ups

Reviving the industry is indeed the need of the hour. It will streamline GDP, facilitate money supply in the economy and also enhance purchasing power of people. Entrepreneurs should be given more emphasis. Networking opportunities, easy fund-raising policies, assistance in technical and scientific researches, etc, should be provided to encourage new startups. Krishna

Need for experienced management important

Ludhiana is an industrial hub, but during the recent years, some of its industries have been facing closure due to losses or some other reason. As a result, employment and economic growth have reached all-time low. It is important to tackle the problem of industrial sickness. Some of the effective measures which may be taken for the revival of sick units are technical help, professional counselling and improved management. Also, the role of professional and experienced management becomes more important in times of sickness. The government's role can also help industries to get rid of severe slowdown. It should provide concessions to revive sick units without intervention. Assistance of banks can also be sought to revive them.

Kamaldeep Kaur

State govt should offer industrialists sops

Industrialists want to work where they get an ease to work and Baddi in Himachal Pradesh has emerged as a hotspot for industrialists from Punjab as the Himachal government is offering them many incentives to set up industries such as cheap power, easy paper work, immediate issuance of various NOCs etc, while in Punjab, businessmen have to face many problems. Starting from red-tapism to weekly power off in summer season, they have to face many other obstacles too. So to woo the industrialists, the Punjab government should offer them some sops such as easy loan facilities, 24X7 power supply, easy paper work, issuance of NOCs in a short time etc. In addition to all this, industrialists should be helped in selling their products as well. If Himachal Pradesh primarily being a tourist state can do so much for the industrialists, why not the Punjab government. For the better future of Punjab, the revival of the industry is a must and Ludhiana being the industrial capital of Punjab should be a priority.

Bir Devinder Singh Bedi

Buy only ‘Made in India’ products

To revive industries, there is a need to focus on products which are essential for everyone's life such as washing machines, cars and clothes. If such products will be available on affordable prices, everyone will be ready to buy it. This will also help the industry to run successfully. We should buy only Made in India products, instead of those imported from other countries. This will cost less and will also help the production market to sell products without any loss. 

Karanpreet Kaur

Set up standing committees

To revive the industry in Ludhiana, the need of the hour is to set up standing committees to deal with issues faced by industrialists such as high cost of power, delay in obtaining financial assistance from public financial institutions, delayed supply of machinery by the manufacturers, lack of demand for products or shift of demand to products of rival firms due to delay in project implementation, market obsolescence and delay on the part of the government in terms of sanctioning licences, permits and refunds under various schemes, labor disputes etc. Besides, the role of bankers needs to be redefined to support aid and lift sick industrial units with sufficient, timely and soft finance. Further, the government should take concrete steps to regulate the unprecedented hike in the prices of raw material and semi-finished goods. Last but not the least, special concessions in terms of taxation and finance, power, import & export of goods should be given to the Micro, Small and Medium Enterprises (MSMEs).

RAVI CHANDER GARG

Long-pending refunds should be cleared

Punjab was once synonymous with prosperity but has lost its coveted tag fast with the decline in industrial as well as agricultural output .Ludhiana was hub of small and medium enterprises (SME) producing cycles parts, hand tools and hosiery goods. Twenty years back, Ludhiana city was known as the city of Merc because of wealth, but due to tax exemptions given by the Centre to the neighboring states, industrialists have shifted a lot of SMEs to other states just to save tax. Firstly, the long-pending (VAT & GST) refunds with the Excise/GST Department should be cleared so that amount can be credited to the entrepreneurs and they can use it for their output. A new industrial policy should be formulated in the interest of the small and medium enterprises. Regular and affordable power should be provided to the industries. Focus should be on the startups and entrepreneurship. Institutional capacity should be built up and institutional linkage should be enhanced. More job opportunities should be created so that industrial growth should be accelerated. Skilled manpower should be made available to the industry and for that focus should be on skilled development education system. The synergy between state programmes and Centre schemes should be brought in so as to increase the industrial growth of the city.

Dr Jasdeep Kaur

Import raw materials from neighbouring states

Cycle manufacturing is a flourishing industry in Ludhiana, but it is now facing competition from Chinese products as well as other manufacturing units offering cheap cycle parts in India. Due to this threat, many small local cycle component manufacturers had to face a shutdown. The government should formulate strict policies to encourage Made in India products. Raw material should be imported from neighbouring states where it is cheap. 

Deeksha

Govt’s industrial policy needs review

Punjab's agricultural sector is challenged with economic controls and huge subsidies, which makes the state's fiscal situation highly unmanageable. The state provides free electricity to its farmers. To compensate for this, subsidy, arcane duties and cesses are imposed on electricity provided to industries. This makes operations unreasonably expensive. Another flawed economic policy focus was seen in the recent efforts of the previous government to attract investment into the state. A slew of incentives were announced to attract new big investors. The government's industrial policy needs reforms. 

Angel Arora

Provide loans for infra  development

To revive the industries, there are many steps that should be taken. Banks should offer credit facility and loans to the industries for infrastructure development. Enacting laws should be passed by the government which aims at improving the infrastructure, accessing capital to the industries at a competitive price and providing stability to the industries. The industries should also do import and export with foreign countries which also upsurge the growth of industries. The necessary recapitalisation amount should be provided by the government to industries. There is a need to bring specialisation with the use of latest technology in each and every industry to raise the growth of the industry. 

Mehak Bajaj

Goods should be sold at competitive prices

The availability of cheaper imports of manufactured and intermediary goods from China available at every shop is responsible for the recessionary phase local industries are facing. For instance, Jalandhar, which was a global supplier of sports goods, lost its competitive edge to cheaper Chinese products. Similarly, the cycle industry in Ludhiana lost its place to cheaper imports of cycle components from China. Price of goods should be less so that instead of buying Chinese products, consumers opt for Made in India products.

Vaishnavi Kharbanda

Provide incentives to industrialists

Proper education and training must be provided, infrastructure must be developed, facilities must be provided, rules and regulations must be framed and many incentives must be provided by the government so that the industries can be revived. Various incentives must be provided by the government for the protection of the industry.

Manpriya Kaur

Flawed economic policies must be renewed

The government needs to balance its books and reduce its fiscal burden by cutting down on its subsidy bill. It needs to remedy its flawed economic policies that have been making business unviable in the country. Economic policy focus was seen in the recent efforts of the previous government to attract investment into the state as a slew of incentives were announced to attract new big-ticket investors. 

Khushboo Singla

Foreign investment should be promoted

The entire Indian economy has seen a slowdown in this quarter. Our GDP growth rate has come down to merely five per cent. The consumption and investment in the economy has been reduced due to which the demand for the industrial goods has decreased significantly. This results in decline in the production as well as unemployment. There is an urgent need to revive the industries at the earliest. The foreign investment should be promoted .The money supply in the economy should be increased in order to increase the demand for the industrial products. The government must take necessary steps to revive the industries. 

Pallavi Bajaj

Sellers should offer goods at cheaper prices

Ludhiana is the hub of industry. It consists of mainly three largest industries - textile industry, bicycle industry and automobile industry. These industries provide employment to millions of people. After decelerating for five quarters, the growth in GDP had gone down drastically. To revive the industries, the government should form proper policies so that the industries face minimal effect of recession and the industries can run smooth in a long term. Sellers should offer their goods at cheaper prices like China to improve the business. Instead of keeping machines and less manpower, industries should use manpower and fewer machines. Use of new technology also should be incorporated. 

Abhilasha Singh 

Reduce tax rates for manufacturing industries

For the past more than one-and-a-half decade, the industrial growth in Ludhiana remained very dismal. Due to faulty policies of the government, many industries have shifted to Himachal and Haryana. If we want to revive the local industry, the Punjab government should support and assist the industries in Ludhiana. The government should supply 24x7 hours power supply to the industrial sector. There must be a reduction in tax rates for manufacturing industries. The government should promote some small scale industries by framing an industrial policy. 

Farzana Khan

Prices of electricity, fuel should be cut

The industry is the backbone of Ludhiana.  To breathe in new life into our industrial set up, a few measures are required. Firstly, prices of electricity and fuel should be cut or lowered as the industry thrives upon it. Secondly, logical approach towards taxes, especially GST, should be there. Thirdly, liquid funds should be generated to improve the ongoing conditions. Lastly, banks can play a vital role by providing rebate on loans so that the industry can revive from this crunch. 

Neeti Marwaha 

Liquidity should be increased

Due to rising costs of raw materials, overhead costs and high rated taxes in Punjab, the industry is gradually losing its profitability in Ludhiana. In order to revive it back, small steps have to be taken. Small scale industry is a very crucial hub of employment for people. More policies have to be made to give them more concern and even financial aid. Liquidity has to be increased in the city. The government must close or down-size the unoperating units of the industry in the city. The government has to stop its surgical strikes on traders and industries. Rapid injections of investment should be given to the industries which are collapsing due to economic meltdown. 

Kartika Singh

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OPEN HOUSE COMMENT

Financial incentives to micro units can help

Minna Zutshi

Small scale industry is the backbone of the state. Punjab Chief Minister Capt Amarinder Singh said this during one of his pre-election interactions with the public. And rightly so. Ludhiana is the hub of industrial units. The number of micro units supplying parts to big industrial units runs close to over 50,000. Most of these micro units are unregistered. They have a fair share of their problems that, unfortunately, have only increased in recent years. The problems include poor working conditions, non-availability of loans as these units are not registered with any government department. These units operate from cramped quarters with poor ventilation. Absence of technological innovation and lack of funds to upgrade are common problems. Many small and medium scale units are reluctant to have business transactions with these unregistered units. Overall, it is not a very bright scenario for these micro units that are very important for industrial growth and development. Technical assistance, technological training and financial incentives to the micro units in the unorganised sector can help revive this sector.