
JALANDHAR, Dec 8: Union Industries Minister Sukhbir Badal today said that the country8217;s industrial growth was poised for a big leap and the sanctions imposed by some western countries after Pokharan tests have had no impact on country8217;s economy. He claimed that many foreign companies, including many from the USA and Britain, were scheduled to make billions of dollars worth of investments in the country in the coming years.
Inaugurating a three-day meet of NRI investors and entrepreneurs at Guru Gobind Singh Stadium here today, Sukhbir said the government needed to concentrate on development of infrastructure in the country to attract NRI investments. He also launched the website of NRI Sabha Punjab and NRI Expo 8217;99.
Over 300 NRIs from various countries are participating in the three-day meet which would explore NRI investments in various sectors in the state, including the field of agri business and education. The matter of formulation of a comprehensive NRI investment policy would also be discussed.
Later, talking to mediapersons, Sukhbir said the government was concentrating on removing the bureaucratic bottlenecks and had delicenced many items to promote NRI investments in the country. 8220;The stress is on simplification of procedures related to setting up of various industries8221;.
He said Centre was already laying top priority on the development of infrastructure and had made a budgetary provision of Rs 35,000 crore against the head.
Admitting that the NRI investments in Punjab had not been encouraging despite the government8217;s efforts in the past about two years, Sukhbir said immediate results should not be expected. Sukhbir said the Punjab government was concentrating on improving the infrastructure and particularly the condition of roads in the state for better investment opportunities. He said the state government had planned to spend Rs 1,000 crore for the maintenance and laying of new roads.