Rajya Sabha member Vikramjit Singh Sahney on Saturday said all 52 focal points across the state were in need of an urgent revamp.
Sahney, who also serves as the northern region chairperson of Bharat Global Industrial Forum (BGIF), chaired a discussion with leading industrial associations, including United Cycle Parts & Manufacturers Association, Chamber of Industrial & Commercial Undertakings (CICU), Federation of Industrial & Commercial Organization (FICO); and representatives from the metal and steel sector, Micro, Small and Medium Enterprises (MSMEs), and trade bodies. Senior officials from the Union MSME ministry and Directorate General of Foreign Trade (DGFT) were also a part of the interaction to hear concerns and suggestions.
Sahney said Punjab, which once ranked among the leading industrial states across the country, must regain its position through stronger policy support, improved infrastructure and renewed industrial confidence.
Expressing concern over the slowdown in Punjab’s industrial growth as compared to neighbouring states, he said Haryana’s Gods and Services Tax (GST) collections had grown significantly while Punjab’s industrial ecosystem was left needing fresh momentum and stronger support for MSMEs.
He said the Centre, under leadership of Prime Minister Narendra Modi, had introduced several transformational initiatives for MSMEs, including the Emergency Credit Line Guarantee Scheme and additional credit support measures. However, the MP pointed out awareness regarding these schemes must increase among industries and entrepreneurs.
Sahney alleged no concrete action had been taken for revamping the focal points. During the interaction, industry representatives raised the issue of inverted duty structure before Union ministry officials, highlighting raw materials were purchased at 18 per cent GST in several sectors while finished goods were being sold at 5 per cent GST. The officials guided the industry representatives on Input Tax Credit (ITC) refund mechanisms available under GST provisions.
Sahney said the dialogue also laid stress on the theme “Nation first manufacturing: Reducing imports, encouraging innovation & strengthening Indian industry”, in backdrop of the ongoing West Asia crisis.
