Punjab to set up MSME marketing cell, 100-cr start-up fund: Amarinder

Punjab Chief Minister Amarinder Singh on Friday said the government will set up a dedicated MSME marketing cell and establish a Rs 100-crore start-up fund.

The MSME marketing cell will work for forming trade linkages for Punjab's micro, small and medium enterprises (MSMEs), a government release said here.

The release listed out various decisions taken by the chief minister after two days of deliberations during the Progressive Punjab Investors Summit (PPIS) 2019, that concluded on Friday.

The start-up fund will be set up by the state government in partnership with IKG Punjab Technical University for promotion of incubators, providing seed or scale-up funding to start-ups, it said.

 

Of this, 25 per cent fund shall be used to promote scheduled caste and women entrepreneurs, it said, adding that venture capitalists or angel networks like Indian Angel Network and Bharat Fund may contribute to this corpus fund.

Responding to industry's concerns about interference by regulatory bodies for environment and pollution clearance, Amarinder decided to give 'Auto Consent to the Green Category Industry on Intimation'.

With this, the state government will do away with inspection by any regulatory body and consent shall be given to the industry on the day of intimation, the release said.

Further, the chief minister also decided to bring certain amendments to GST reimbursement policy to encourage non-paddy based agri-processing sector to wean farmers away from paddy, thereby saving water and preventing air pollution from stubble burning.

Based on his discussions with a delegation from UAE , which was led by the country's Ambassador to India, the chief minister directed Invest Punjab to immediately establish a dedicated UAE desk at their office, the release said.

He also ordered a monthly round table to be conducted at the level of chief secretary with the partner countries which participated in the investor summit.

Taking note of the key takeaways from each engagement, interaction as well as session during the summit, the chief minister directed to constitute a working group, chaired by the chief secretary, within seven days to ensure expeditious delivery on all points.

The working group will submit a report on the feasibility of implementing suggested policy measures within a month, it said.

In response to some other concerns and demands raised by the industry to boost ease of doing business, the chief minister decided to give permission for sale of independent floors in apartment buildings, and for a minimum floor area ratio of 3 throughout the state.

He also agreed to bring in a land leasing law, as urged by industry, at the earliest, the release said.