Chandigarh, May 23, 2017: Focus on agri-business including food processing and dairy farming, growth and ease of doing business of MSMEs, re-fueling the housing & construction sector, expansion of services sector with creation of State based insurance companies would push the growth of GSDP to more than 10% and create 2 million new direct and indirect employment opportunities in the three to five years, said Mr. Gopal Jiwarajka, President, PHD Chamber of Commerce and Industry in a press statement issued here today.
Reforms in these sectors would go a long way to absorb large proportion of unskilled, semiskilled and skilled workforce in the State, said Mr. Gopal Jiwarajka
The roadmap for the new government in Punjab has suggested to leapfrog the food processing sector especially the wheat and rice processing and to increase its presence in the US$71 billion global imports.
Total exports from India in these products are estimated at US $ 581 million in 2016.
Food processing industry holds considerable opportunities for growth and attracting investments (domestic and foreign) and to create 3 lakh direct and indirect new employment opportunities
The state has immense potential to attract investments in the growth promising areas such as textiles, steel, agriculture, agribusiness and food processing, dairy farming, fertilizers, electronics, sports goods, solar energy, tourism, handicrafts and handlooms, said the roadmap for the new government prepared by PHD Chamber
The state should focus to save food vis-à-vis reduce the wastage of agricultural produce
There is a need to deviate from the traditional mode of operation towards a more professional conduct of business both during pre and post-harvest period and processing period, said Mr. Jiwarajka, President of the Chamber
In the expansion of services sector, due focus should be given to financial services and especially insurance sector. The state needs 3 insurance companies.Not even a single insurance company (out of 55 companies) is operating out/ headquartered in State of Punjab, said Mr. Gopal Jiwarajka
All premiums (Rs 10, 000crores cumulative) have gone out of the state along with tremendous opportunities in jobs/ profits/ taxes. No innovative/ market specific insurance product has been developed/ sold in Punjab.
State should focus on the opening of 1 Life Insurance Company, 1 General Insurance Company and 1 Health Insurance Company. Investments will come from local Investors, foreign investor and Punjab Government ( Initiator/ Seed Capital )
New industrial environment in the State should focus on the seven basic ingredients of production/manufacturing efficiency including availability of land, conducive industry-labour relations, availability of adequate finances, zeal for entrepreneurship, availability of skilled manpower, state of the art infrastructure including rail, road, port (dry port), airport and a greater ease of doing business, he said
Availability of required utilities such as power at reasonable rates, water, internet and telecom services coupled with speedy government approvals in environment clearances, electricity connections, construction permits, among others would go a long way attract investments in the State
Building up the perception about the state as an attractive investment destination, strengthening of the single window clearance system along with digitization of all the departments of the state government with electronic filing facilities and complete abolition of inspector Raj would improve industrial growth significantly which at around 4% is significantly lower as compared with many states.
Skilling of the Government officials at lower rungs to strengthen the policy implementation, establishing a good vocational training centre in the radius of every 25 Kms across the state, special bank for MSMEs and the use of panchayat land/ shamlats for Business Development Centres (BDCs) for Rural Youth would foster all-inclusive development in the State.
On the merit goods front, the Government should focus to improve the infrastructure related to education and health sector.
A good hospital with 24x7 emergency services, modern amenities and state of the art infrastructure should be built in the radius of every 25 km across the state.
Similarly, to increase the accessibility of education and to enhance the skill development, a good vocational training college with state of the art infrastructure should be built in the radius of every 25 km across the state.