Chandigarh: Punjab Chief Minister has underlined the importance of revival of existing industries in the new industrial policy, which should focus on promoting a `business first’ philosophy.

Addressing a meeting to discuss the state’s new draft industrial policy, the Chief Minister emphasized on the need for a mindset change in the government, with focus on facilitation. Industry and business houses should be treated as partners and not be subjected to suspicion, he said.

The new policy should focus on revival of industry with preference to existing industries, said the Chief Minister, adding that the state should extend all possible help to industries and businesses, especially to MSMEs, to develop and expand

Besides upgradation of the power sector, the policy would look at the development of four industrial parks and 10 industrial estates as part of the policy, which will be focused on enhancing ease of doing business in Punjab.

Identifying the services sector as a key priority in the proposed policy, the Chief Minister said his government was targeting a total investment of Rs 5 lakh crore in five years around the seven core strategic pillars of growth. These pillars have been identified as Infrastructure, Power, MSME, Startup and Entrepreneurship, Skill Development, Ease Of Doing Business and Investment Promotion, and Fiscal Incentive. The policy, being prepared to synergise with the central government industrial policy, would envisage one anchor unit for all the priority sectors.

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