The Punjab Bureau of Investment Promotion (PBIP) cleared 52 projects worth Rs. 5,180 crore in the past few months, the state government has claimed.
A spokesman from the office of deputy chief minister Sukhbir Singh Badal said 47 more projects worth Rs. 22,342 crore were at the advanced stage of approval, and another 15 at the preliminary stage of sanction. “The bureau has received 74 applications for different projects. The deputy CM has redressed two major issues raised at Investment Summit last year,” said PBIP chief executive officer (CEO) Anirudh Tewari.
“The integration of nine administrative departments, including pollution control, power, revenue, forest and agriculture, with the bureau enabled the state government to grant all clearances within 15 days,” said Tewari. Besides the speedy clearance of projects, the investors had asked for 24-hour uninterrupted power supply as well.
Tewari said Punjab was first state to give all clearances to the entrepreneurs within two weeks and the bureau would approve the projects before the given time once its online portal was launched. He added that information technology giant Infosys had started building campus at IT City in SAS Nagar, while Cargill India was on with constructing a feed plant in Bathinda and the deputy CM had laid its foundation stone in February.
The official said ITC (Indian Tobacco Company) had been allotted land for Rs. 100 crore food processing unit at Kapurthala; and Mahindra & Mahindra and Amity Group had signed agreements to bring world-class universities to Education City in New Chandigarh.
Tewari said that to provide people with high-speed Internet in villages, Reliance Jio and Air tel would introduce 4G services there with Rs. 4,000-crore investment, of which Rs. 250 crore was for the expansion of Airtel network in the initial stage.