Punjab Minister stresses upon strengthening DICs

Punjab Industry Minister Madan Mohan Mittal today stressed the need for strengthening the District Industries Centres (DICs) through various means.
The state government has ensured more than 72 per cent procurement from their public sector units, he said addressing a Regional Conclave of MSMEs of Norhtern Region here.
He said Punjab has a natural pool of MSMEs, in the Light Engineering, Knitwear and Clothing and Sports Goods sectors.
The State has about 1.60 lakh MSMEs as on March 31, 2015 with Fixed Capital Investment of Rs 14,000 Crore, employing about 11 lakh persons and Industrial output of Rs 84,000 Crore.

Exports from the State were Rs 27,235 Croe (for all Industry) in 2014-15, he said.
The SME sector is the backbone of the Punjab industry and accounts for 60 per cent of the total output and 80 per cent of the total employment in industry in the State, he said.
He demanded Incentives at par with the incentives given by Himachal Pradesh under Central Economic Package, be also given to Punjab Industry especially near the border Districts.
Central Excise Limit for MSME be raised from existing Rs 1.5 crore to a minimum of Rs 10 crore, Central excise duty on complete bicycles may be abolished, increase the import duty on both bicycle and parts which are not being manufactured in India to 50 per cent to prevent dumping, GST should be implemented.