Ludhiana: ₹207L incentives approved to boost industrial growth

Incentives totaling ₹207.22 lakh have been approved for 10 industrial units under the industrial and business development policy (IBDP), 2017. These incentives, which include electricity duty exemptions and stamp duty waivers, aim to support new and expanding industries in the region.

The approvals were granted during a district-level committee meeting chaired by deputy commissioner Jitendra Jorwal, on Monday. The meeting focused on granting in-principle approvals under the Right to Business Act, 2020, which streamlines regulatory clearances and fiscal benefits to industries.

Jorwal stated that electricity duty exemptions were granted to one industrial unit, while CLU/EDC exemptions were approved for one project under IBDP, 2022. SGST reimbursement was sanctioned for six units, while capital subsidy was approved for one unit under IBDP, 2022. Additionally, stamp duty exemptions and reimbursements were granted for two industrial units. Five cases received approvals, while two cases were deferred for the next meeting. The in-principle approvals allow industrial units to begin construction immediately, with a 3.5-year window to obtain formal clearances.

Jorwal emphasised that the policy is designed to strengthen investor confidence and encourage more businesses to take advantage of such incentives. The Right to Business Act, 2020, and the IBDP policies of 2017 and 2022 offer various financial benefits, including stamp duty waivers, electricity duty exemptions, and SGST reimbursements, which significantly reduce operational costs for industries.

During the meeting, the deputy commissioner reviewed pending regulatory and service applications with departments such as the Punjab Pollution Control Board, labour, factories, and the municipal corporation of Ludhiana. He directed the officials to fast-track the clearance of pending applications and scheduled a follow-up review within a week.