Punjab deputy chief minister Sukhbir Singh Badal on Wednesday approved a proposal to simplify the investment procedure, including incentives and relaxations to be given to industries setting up their units in the state.
Presiding over a review meeting on industrial investment in the state here, Sukhbir said Glaxo, SmithKline and Coca-Cola India had mooted proposals for launching their operations in Punjab. Preliminary meetings had been held in this regard, and Coca-Cola has decided to set up three bottling plants in the state.
He directed senior officers that fiscal incentives should be restructured to attract investors, considering specific demands of those looking forward to investing in the state.
Helping existing units expand and incentives on stamp duty for the purchase of land from government agencies are the two key areas in making the atmosphere investor-friendly in the state, he said.
The deputy CM also stated that necessary amendments would soon be made in fiscal incentives for industrial promotion.
On the issue of removal of the iron and steel industry from the negative list, he said it was also being considered actively and this issue would be resolved amicably at the earliest.
He said Punjab would also attract big investments in healthcare and biosciences sectors.
The deputy CM said the state would also develop a knowledge hub and resource centre for related fields, besides the development of clusters in this regard across the state.