Explanation:

The Department of Industries and Commerce plays a pivotal role in rendering assistance to the entrepreneurs. The process of assistance begins with the very first stage of project identification to financial assistance up to the commissioning of Industrial units. The existing industry is also helped in the process of continuous up-gradation of technology and modernization.

The Department also acts as a ‘Nodal Agency’ for mitigating the problems of Industries and liaises with other departments for devising remedial measures. The department is assisted by Corporations like Punjab State Industrial Development Corporation, Punjab Small Industries & Export Corporation, Punjab Financial Corporation, Punjab Information & Communication Technology Corporation. In order to look after Khadi Village and Cottage Industries, Punjab Khadi & Village Industries Board has also been set-up. The Department also facilitates grant of the time bound clearances for projects under Industrial Facilitation Act, 2005 through Udyog Sahayak.