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Journalism of Courage
Chief Minister Bhagwant Singh Mann at a conference in Karnataka’s Bengaluru showcased Punjab as the most preferred investment destination and urged eminent industrialists to invest in the state to give fillip to their business, Tuesday.
Reiterating that Bengaluru is the IT Hub and the Silicon Valley of India, the CM extended an invitation to the entrepreneurs to invest in Punjab. Mann said that the sacred land has a rich cultural heritage and is blessed by great Gurus, saints and martyrs.
The CM also said that Punjab’s soil exhibits bravery, hard work and an enterprising spirit. Punjab has long played a crucial role in defending the nation’s borders as well as ensuring the country’s food security. Punjab is often called the Food Bowl and Sword Arm of India for these reasons, the chief minister said.
As Mann encouraged the distinguished industrialists to invest, he claimed that the state’s industrious people are known for their dedication and perseverance. This is what makes Punjab exceptionally strong in the sectors of industry and enterprise.
He also said that Punjab is steadily ascending the ladder of industrial growth. The state is gradually drawing in investments due to its industry-friendly policies, transparent governance and a conducive business environment. Besides these, Punjab’s atmosphere of harmony, peace, and goodwill has also contributed to the industrial investment, Mann said.
Since March 2022, the chief minister said, Punjab has received investment proposals worth Rs 1.23 lakh crore, which will generate employment for around 4.7 lakh youth.
He informed that Punjab continues to attract investments from developed nations such as Japan, the USA, Germany, the UK, the UAE, Switzerland, France and Spain.
Multiple sectors including food processing, textiles, auto components, hand tools, bicycles, IT and tourism have positioned Punjab as a role model for other states.
Mann also said that it is a matter of pride that Punjab has become home to many leading global companies like Nestlé, Claas, Freudenberg, Cargill, Verbio and Danone among others.
The Chief Minister also shared that Tata’s second-largest steel plant in India, after Jamshedpur, is coming up in Ludhiana. Ludhiana, globally known as an industrial hub, plays a vital role in the state’s economy and is considered the Commercial Capital of Punjab.
The CM said that Punjab is emerging not only as India’s but also the world’s preferred investment destination due to various reasons. He said the state has delivered on many of the guarantees given to industrialists within just three and a half years.
He also highlighted the importance of the Fast Track Punjab Portal, India’s most advanced single-window system, that offers more than 150 business services.
The state also grants in-principle approval within three days to projects with an investment of up to Rs 125 crore, under the Punjab Right to Business Act.
The Chief Minister said that assistance to investors is regularly provided through WhatsApp, AI chatbots and call centers. Likewise, he said the time period for fire NOC renewals has been extended, and the process for leasehold-to-freehold conversion has been vastly simplified.
The CM also apprised the investors that the sixth Progressive Punjab Investors Summit will be organised in Mohali on March 13, 14 and 15, next year. Inviting all the investors to participate in the event, he said the summit will provide a common platform for industrialists, policymakers, and innovative thinkers.
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