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Tuesday, December 07, 2021

Progressive Punjab Investors Summit: You have capital, risk-taking capacity, I have will, intent, commitment: Channi to India Inc

Channi said his aim was to further improve state’s ranking from top 10 to becoming one of the top five states in the country in terms of attracting foreign direct investments (FDIs).

By: Express News Service | Ludhiana |
October 27, 2021 6:20:39 am
Calling the corporate honchos and the industrialists the “wealth creators in the society and a source of opportunities to cherish the aspirations of the state’s youth”, Channi said Punjab “is the best place to do business in India” and would live up to their expectations. (File)

Punjab Chief Minister Charanjit Singh Channi Tuesday assured the industry of “creating a conducive ecosystem” for investments and reiterated his government’s commitment to to “zero tolerance for political or bureaucratic corruption, negative attitude, delays and inertia”.

Calling the corporate honchos and the industrialists the “wealth creators in the society and a source of opportunities to cherish the aspirations of the state’s youth”, Channi said Punjab “is the best place to do business in India” and would live up to their expectations.

The CM was delivering his address during the plenary session of 4th Progressive Punjab Investors Summit 2021 here. The day one was held virtually and Channi made the address from the Indian School of Business, Mohali campus. This year;s summit’s theme is ‘Progressive Punjab-A story of Partnership, Delivery & Growth: Investors Reassured’.

Channi said the suggestions and input received from industry captains would help the state government to further fine tune the existing industrial policy by incorporating some requisite amendments to make it far more investor friendly.

He said he comes from a humble background and had gone through the grill of day-to-day challenges faced by a common man and has first-hand knowledge of their problems. “I have also seen that aspiring young generation of Punjab which wants to do something big and I am committed to fulfilling their dreams and unable to do this without you….without your support,” he said.

Exhorting the tycoons of industry, Channi said, “You have the capital, you have the risk taking capacity and you have business ideas. I have the will, I have the intent and I have the commitment. I give my commitment to you all today that our government will work with you at every step to see that nothing from the government hinders your speed or creates hurdles in your business plans. Let’s work together towards mutual growth and progress.”

Channi said his aim was to further improve state’s ranking from top 10 to becoming one of the top five states in the country in terms of attracting foreign direct investments (FDIs).

He said the state has developed a land bank of 6,000 acres with plug and play facilities and created an efficient skill development ecosystem with active participation of industry. “Punjab Skill Development Mission has also been revamped to cater to futuristic skills for industry,” said CM.

In his address, Finance Minister Manpreet Singh Badal acknowledged the immense contribution of stalwarts of industry in “scripting the new chapter of industrialization” in Punjab.

“Punjab has already reached a point of saturation in agriculture and now need of the hour is to boost industry. Punjabis are known for their resilience and valour throughout the world that’s why they ushered in green revolution thus making the country self-reliant in food production besides playing a vanguard role in protecting its national security,” said Manpreet.

Earlier, in his welcome address, Industries & Commerce minister Gurkirat Singh Kotli said the summit would go a long way to boost the confidence of prospective industrialists and investors to further propel Punjab as the most preferred destination not only within the country but across the globe. He assured the industrialists of fulsome support and cooperation to accord all necessary clearances and approvals for setting up their units in a fast track mode.

Investments announced
On day-1 of the summit, Trident Group chairperson Rajinder Gupta announced a Rs 2,000 crore expansion plan. HUL Chairman and MD Sanjiv Mehta announced to invest Rs 1,200 crore and Amity University Chancellor Dr Atul Chauhan announced to invest Rs 300 crore in the next two years in the higher education sector, according to a government statement.

Apart from this, Mahindra Group Chairman Anand G Mahindra also announced to set up its third tractor facility in the state, besides setting up a hotel project near Pathankot.

Several other industrialists including Vice Chairman and MD JK Paper Ltd. Harsh Pati Singhania, Founder & MD Sun Pharmaceutical Industries Dilip Shanghvi, MD Yanmar India Kazunori Ajiki, Chairman-Europe Hinduja Group Prakash P Hinduja, Chairman & MD ITC Sanjiv Puri, Japanese Ambassador to India Satoshi Suzuki, Chairman Aditya Birla Group Kumar Mangalam Birla and Executive Chairman Arcelor Mittal Lakshmi N Mittal shared their experiences and inputs about their partnerships in various industrial ventures across the state, according to the statement.

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