Punjab Inc: This industrialist from Ludhiana is blazing a trail in the Rajya Sabha

I am a businessman based in Ludhiana. Our family established an export house with manufacturing facilities named Ritesh Industries Ltd in Ludhiana many years ago. I joined this business in 1986, mainly exporting to the USA. Since 2006, I expanded into real estate, renaming the company to Ritesh Properties and Industries Ltd (RPIL). RPIL developed a modern Industrial Park on 43 acres in Ludhiana, including industries, a CBSE-affiliated school up to 12th grade, and an upcoming hospital in collaboration with Narayana Hrudayalaya Ltd. The project also features apartments and a commercial complex named Hampton Plaza. RPIL is listed on BSE with a market cap of Rs. 1200 crores. We ventured into non-ferrous metal business with Teneron Limited, in partnership with Suzuki Motors Gujarat plant under the Make-in-India scheme. The company’s CAGR has been over 50% for the last three years, with projected turnover in FY22-23 at Rs. 700 Cr. Our group turnover is about Rs. 1000 crores. In 2008, we launched the women’s wear brand “Femella,” which is available on various online portals.

Journey into politics:

I still don’t see myself as a politician. My desire to work for society through CSR activities, like helping cancer patients, led me to the Rajya Sabha. I wanted to contribute to the masses on that platform.

Past year’s activities:

I believe in driving development regardless of its origin. I concentrated on expediting pending NHAI projects to transform the city’s landscape. I met Union Minister Nitin Gadkari thrice to speed up these works. The elevated road near the deputy commissioner’s office is undergoing strength testing and will be operational next month. The ongoing elevated road projects within the city will finish by year-end or Q1 2024. Progress is also underway on the Halwara Airport, ESI Hospital, and Railway Station upgrades. I focus on pushing these projects forward, irrespective of their initiators, for Ludhiana’s industrial growth. I ensured Ludhiana’s inclusion in the first phase of railway station upgrades, making it akin to an airport. New roads are being built in industrial areas by Punjab State Industrial and Export Corporation (PSIEC) and the Municipal Corporation (MC), as I personally emphasise infrastructure’s importance for industry growth.

Land Acquisition and Project Delays:

I concur that project delays often stem from issues related to land acquisition. In the case of the Ludhiana Rajpura road project, the process has been hindered by disputes over compensation with farmers. Despite NHAI offering compensation exceeding market rates by 2-4 times, resistance persists. It may be worthwhile to consider an annual revision of the collector rate for the region to enhance transparency. Typically, the collector rate falls below market values.

MPLAD Fund Utilisation:

I’ve allocated a total of 7 crores through the MPLAD fund scheme. These funds have been directed exclusively towards government colleges, schools, and hospitals, with a primary focus on bolstering the healthcare and education sectors.

Industrial Insights:

As an industrialist, I advocate the concept of industrial clustering, where units collaborate under a shared effluent treatment plant. However, finding suitable land within the city remains a considerable challenge. Effective monitoring of polluting industries is imperative, and addressing the pollution of Buddha Nallah is a critical priority. Noteworthy is the sanctioned 21 km bicycle track project, set to positively impact both public health and the local bicycle industry. My dedication to expediting ongoing projects stems from a commitment to fostering a favorable industrial environment. The Halwara Airport and NHAI projects are likely to be completed by Q1 2024, with upgraded railway stations following suit by 2025. It’s pertinent to clarify that I don’t tether project completion to the 2024 Lok Sabha polls. My approach remains steadfastly accountable to the people, as a Rajya Sabha MP.

Future Prospects:

My immediate focus centers on successfully concluding ongoing projects, allowing the city a much-needed respite.

CSR Endeavours:

The establishment of the “Krishna Pran Breast Cancer Charitable Trust” in 2005 stands as a poignant testament to my family’s commitment. This trust, named after my parents who battled and succumbed to cancer, has provided free treatment to over 200 cancer patients. The trust extends support and medicines to adopted patients for their lifetimes. The trust’s initiatives span across rural and urban areas, and during the challenging times of the pandemic, we collaborated with Ludhiana District Administration, offering essential resources such as ambulances, PPE kits, sanitizers, ventilators, and dialysis machines to medical institutions. Additionally, my role as Vice President of Dayanand Medical College and Hospital, Ludhiana, has further enabled our contributions to the healthcare landscape.