The setting up of separate Industrial Development Development Boards is likely to give a fresh lease of life to the SMEs and SSIs in Punjab. The move is a step towards incorporating industry leaders in the decision-making process of the government.
Analysts say the boards will bridge the gap between the intentions of the policy makers and the aspirations of the target group. They add the boards would also help leading industrial players clinch deals with their counterparts in other states.
Currently, the SME and SSI sector makes up 99 per cent of the industrial units of the state. The state has 206,833 working units.
The setting up of three Industrial Development Boards, one each for large, medium and small scale entrepreneurs, has been announced by the Punjab government.
According to the notification, the boards will interact with the representatives of industries, banks, financial institutions and officials of central and state government. It will also recommend the rehabilitation of existing sick units and advise on development of industries.
How to better the investment scenario and suggestion of adequate remedies to improve infrastructure is also a part of its brief. Officials in the state government confirmed the government will the board’s advice on policy matters.
In an interaction with Business Standard, Satish Kumar Dhanda, vice-chairman, Medium Industry Development Board, said: “The board will act as watchdog and act as advisor to the government on industry related matters. It will analyse matters and help in effective implementation of the policies.”
Punjab Chief Minister Parkash Singh Badal and Local Government, Industries and Commerce Minister Manoranjan Kalia will be the chairman and vice-chairman, respectively, of the Large Industry Development Board.
