Punjab New Industrial and EV Policy

February 8, 2023

As the old Industrial Policy has come to an end, the Punjab Government is launching a new Industrial Policy. This is the first industrial policy the ruling government is launching since it came to power. The new Industrial policy will focus on MSME, infrastructure, and power. Along with the Industrial Policy, the Punjab Government also launched the EV Policy.

Industrial Policy of Punjab

To increase the ease of doing business for MSMEs
Focus areas of the policy will be skill development, innovation, startups, export promotion logistics, grievance redressal, fiscal incentive, etc.
The Punjab Government is to build 15 industrial parks under the policy. These parks are to be built in 20 rural areas
The policy will provide more incentives to industries manufacturing EV components, circular economy-related activities, hand tool manufacturing, fitness equipment, sports goods, power tools, agriculture machinery manufacturing, etc.

Punjab Electric Vehicle Policy

The EV Policy of Punjab aims at checking pollution levels in the state. It will mainly focus on pollution caused by vehicles.

The policy will also suggest measures to create infrastructure, creation of employment opportunities in the EV sector, research and development, create a sustainable environment, and control carbon emissions.

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