On Thursday, Chief Minister Bhagwant Mann promised improved ease of doing business at the two-day Progressive Punjab Investors’ Summit by assuring the industry that the state government will grant permissions to potential investors within 15 days.
To end “Inspector Raj,” the Punjabi government has implemented self-certification for industries. Mann assured business leaders that they wouldn’t be instructed to “come tomorrow” or experience legal difficulties while obtaining no-objection certifications, change of land use paperwork, and clearances for pollution and forests. He promised, “We’ll give you all the clearances within 15 days.” “We will grant you licence for three plants if you intend to set up two. You help our young people find work.
Unknown is the amount that was raised on the summit’s first day this year. The The chief minister stated, “MoUs would not be the focus of this meeting. Sharing and learning will be the focus. We’ll make doing business simple. According to the summit’s website, the fourth iteration of the event drew investments worth 8,200 crore last year.
According to Mann, the government would establish 15 industrial parks and 20 industrial clusters in rural areas. “We urge investors to establish their facilities in rural areas so that our young can find work and prevent migration,” Some 3,000 businesspeople are expected to attend the summit, which will feature nine sessions on topics such agri-food processing, textiles, healthcare, education, tourism, IT, and start-ups. Mann added that the Thursday-unveiled Industrial and Commercial Development Policy 2022 of the state sought to attract significant investment.
many categories, such as expansions, new MSMEs, major units, export promotion, and start-ups pertaining to both services and manufacturing, received investments and competitive incentives. He also promoted Punjab’s EV Policy, which was also unveiled on Thursday, as a significant step in the direction of sustainability.
According to Mann, the Center considers Invest Punjab, the state government’s unified regulator, to be the best investment promotion agency. The state of Punjab also earned the President’s Digital India Award, and according to the CM, it ranked among the top 10 on the India Innovation Index 2022 and among the top five in the most recent LEADS Index for logistics. Since March 2022, Punjab, according to Mann, has benefited from investments totaling more than Rs 40,000 crore, creating jobs for about 250,000 people. They comprised investments made by businesses including Tata Steel, Nestlé, Freudenberg Group, Cargill, Hindustan Unilever, and Sanathan Textiles. A number of business executives spoke during the event, including those from the Medanta Group, M&M, RJ Group, Godrej Consumer Products, and Bharti Airtel. We have four manufacturing facilities in Punjab, according to Rajesh Jejurikar, executive director of M&M. The fifth, which is currently being built, is where we are investing. In addition to our CSR efforts, which have benefited 50,000 individuals, we are investing in a new product in the state.
In order to develop in Punjab, according to Nisaba Godrej, executive chairman of Godrej Consumer Products, the company is establishing a factory to produce cattle feed as well as other enterprises. Punjab has one of the best work cultures, according to Rakesh Bharti Mittal, vice chairman of Bharti Airtel. Up until now, we have invested 50,000 persons were employed and the state received Rs 15,000 crore.
