The Punjab Cabinet has approved a new policy for industries and the electric vehicles effective from October 17, 2022 – when the earlier policy period expired – for a period of five years.

• The industrial policy of the state focuses particularly on the three key sectors – Micro, small and medium enterprises (MSMEs), infrastructure and power. 
• The approval for the new industrial policy came ahead of the state’s investors’ summit scheduled for the last week of this month (February 23-24) in Mohali. 
• Under the new policy, the state will develop 15 industrial parks covering general and sector specific requirements of various industrial sectors and 20 rural clusters across the state.