The industrial policy of Punjab needs a re-look to facilitate higher foreign and domestic investments as the state share fell below 2% in the total investments announced by both the public and private sectors, according to a strategy paper of industry chamber.

The state attracted an investment of only Rs 1,70,218 crore out of the nation-wide investment of Rs 1,04,93,601 crore announced in the country both by the public and private sectors as of March. Punjab?s share works out to be 1.8% in the total investment undertaken by different government sources in India.

On the other hand, the state?s share in the total domestic investment by the private sector was 1.5%. The state government is the major public sector investor and the domestic private sector turned out to be the source of investment in Punjab.

The state received 219 investment proposals until March 2010 from private sector and overseas investors. Of the 219 proposals, 212 proposals came from the domestic private sector and the foreign private players committed only 7 proposals. ??It goes on to prove that Punjab?s industrial policy needs a re-look?? says a strategy paper of The Associated Chambers Of Commerce and Industry. DS Rawat, secretary-general of Chamber told that the paper ?Revitalising the economy of Punjab? has suggested a six point strategy for the state to accelerate its economic activities and have a re-look at its industrial policy to facilitate higher foreign and domestic investments in the state. It has also suggested that state should focus on replicating its success achieved in realising green revolution. This requires a genuine policy boost essentially for identifying, adapting and assimilating the relevant outcomes of the available scientific research.

At present, the services sector in the state is dominated by traditional services and has relatively low share in SDP. As can be observed from other progressive states in the country, the strategic business services have undergone a revolutionary change to act as catalysts of growth. The IT and ITeS sectors riding on the ICT revolution have emerged as a viable option for a land locked state. Therefore, Punjab should focus on developing IT and ITeS industry in the state.

It has suggested that Punjab has a number of important tourist places to attract both national and international tourists into the state. Some of these places are losing their relevance owing to their management and environmental degradation as well due to increased competition from the neighboring states. The state government needs to prepare a strategy and infrastructure in order to attract maximum number of tourists during the Commonwealth Games 2010.