In a significant move to boost its economy, Punjab today starts its ‘Rising Punjab’ initiative, a bold new plan set to bring fast industrial growth and create many jobs across the state. The government’s new program aims to attract more businesses and build a strong environment for them to thrive. This comes as Punjab looks to improve its standing and become a top choice for new company investments. Officials believe this effort will greatly change the state’s economic future, making Punjab a key player in the nation’s business world.
Government Launches New Plan for Industry
The state of Punjab has started a big new plan called ‘Rising Punjab – Suggestions to Solution’. This plan is part of the larger ‘Udyog Kranti’ vision, which aims to bring about a big change in how industries work in the state. The main goal of ‘Rising Punjab’ is to help businesses grow, attract more money from investors. create many new jobs for people. The plan is being led by Industries & Commerce-cum-Investment Promotion Minister Sanjeev Arora. It includes a series of special events across the state. These events are set up to teach businesses about the new rules and policies that help them. They also give a chance for government leaders and business owners to talk directly.
Steps to Make Business Easier
A key part of the new plan is to make it much simpler and faster to start and run a business in Punjab. The government wants to cut down on long waiting times and complicated paperwork. One major step is a fast approval system for businesses.
“The government will make sure that all approvals and clearances for starting or growing a business will be given within a maximum of 45 working days. Before this, many approvals took 60 to 120 days, or even longer, which made it hard for projects to move forward.”
A special online system has been put in place. When someone applies for a new business, the government will check the application online within seven days. They will tell the applicant if anything is missing. Once everything is correct, all approvals should be given within the remaining 45 days. Also, if the government does not give a decision within the set time, the online portal will automatically approve the application the next day. This automatic approval has the same legal power as a regular approval. This step aims to make government services more responsible and remove problems like corruption. For smaller projects, especially those in industrial parks, the process is even faster. If a business plans to invest up to 125 crore rupees, they can get approvals within three days if their project is in an industrial park. If it is outside an industrial park, approvals can be given in 15 days, based on what the business owner says about their plans.
Help for Businesses and New Ways of Working
The ‘Rising Punjab’ effort also focuses on giving help to different types of businesses, especially small and medium-sized ones. The state has an Industrial and Business Development Policy 2022, which gives financial help and other benefits to new businesses and those that are expanding. Some of the key areas of help include:
- Money help by giving back some of the state’s Goods and Service Tax (SGST) paid by businesses.
- Keeping electricity prices steady for manufacturing and IT businesses for five years.
- Helping small and medium businesses with new technology, money matters, selling products, following environmental rules, online selling. shipping costs for exported goods.
- Not charging for groundwater use.
The government is also working to improve older industrial areas and set up new ones. They plan to develop 15 industrial parks and 20 smaller industrial groups in rural areas. This also includes creating online services for all land management, making it easier for businesses to deal with land-related matters.
Focus on Key Business Areas
The new plan gives special attention to certain kinds of industries that have a good chance to grow. These include:
- Food processing
- Textile and clothing making
- insights Technology (IT)
- Making light engineering goods
- Tourism and hotels
- Sports goods
- Leather goods
- Making machine tools
- Making auto parts
- Making heavy machines
- Bicycles
- Electric vehicles
- Renewable energy
- Steel and rolling mills
- Storage and transport
- Medicine making
- Healthcare
- New small businesses
- Selling goods to people (retail)
- Designing and making electronic systems
The state aims to make it easier for businesses in these areas to set up and expand. For example, the strong base in farming helps the food processing sector, with many units coming up in cities like Ludhiana and Mohali. The textile sector is also very old and crucial, with cities like Ludhiana, Amritsar. Jalandhar known for making different types of clothes.
Talking to Business Owners
To make sure the new policies truly help businesses, the government is actively asking for ideas from people in the industry. They have set up 22 special groups, each focusing on a different type of business. These groups include business leaders and experts who look at how things are now and suggest ways to improve.
“Rising Punjab is not just about policies—it is about giving our industries a voice, listening to their needs. finding real solutions together. Our aim is to make Punjab a hub of opportunities for investors and entrepreneurs, we are bringing Udyog Kranti in Punjab.”
These groups will suggest both money-based help and other kinds of help, keeping in mind Punjab’s own situation and money limits. Each group, led by experts, has about 45 days to give their written ideas. For example, there are three groups just for the textile sector: one for spinning and weaving, one for making clothes. one for dyeing and finishing. There are also groups for IT, sports goods, auto parts. many more. These discussions also bring up vital issues from businesses, like the need to fix up old industrial areas, lower fees for loans against industrial property, reduce taxes on bicycles. provide easier container shipping services for rice exporters.
Government’s Vision for Growth
The government of Punjab has made it clear that it wants to create a place where businesses can grow and create wealth. The ‘Rising Punjab’ events and the new industrial policies are part of this bigger picture. The goal is to make Punjab a top choice for investors and people who want to start their own businesses. The government has also brought in schemes like changing land use from leasehold to freehold for industrial plots, which solves problems that have lasted for many years. The Invest Punjab online portal is a central point for all business approvals, promising to give clearances within 45 days. The state has seen good growth in its industrial sector. The industry makes up about one-fourth of the state’s total value of goods and services and provides one-third of all jobs. Manufacturing is the biggest part of the industrial sector. In the financial year 2023-24, the industrial growth in the state was 7. 9%, which was the same as the national growth rate. This shows that the efforts to boost industry are working and the state is moving in a good direction for economic growth and job creation. The government continues to work towards making Punjab a strong industrial hub, benefiting its people and the wider economy. 
