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5th Progressive Punjab Investors’ Summit 2023: Become partners in state’s socio-economic growth, says CM
Mann sells Punjab as most favourable investment destination in country, promises investors hassle-free experience
The Bhagwant Mann-led Aam Aadmi Party (AAP) government on Thursday rolled out the red carpet for industry honchos at the 5th Progressive Punjab Investors’ Summit 2023, promising investors a hassle-free experience.
“This investor summit will not be about signing memoranda of understanding (MoU) as in the past it was all about quoting inflated estimates of investment promises, but nothing happened on the ground, but this time it’s about knowledge sharing and learning from each other,” he said in his address to the industry captains at Indian School of Business in Mohali, adding that the government has decided to move away from the system of change of land use (CLU) and no objection certificates (NOCs).
Mann gave a clarion call to industrialists to become partners in socio-economic growth in the state and said no stone will be left unturned to facilitate investors.
The industry only has to inform the land on which they are setting up the industry and the rest would be done by us, and our officers from different departments of environment, forest and industry would approach you for permissions, informed the CM, later in a press conference. Mann reiterated that there would be zero tolerance for pollution.
Hinting at the state government’s stand to protect the law and order situation in the state, Mann said the seeds of hatred will not be allowed to catch root.
“All speakers have said Punjab is the hope and food bowl of India. Punjabis are global citizens. Punjab has franchises in Toronto, Fremont, San Francisco, Sydney, Auckland, Malaysia, and everywhere. We are hardworking people and can stimulate healthy economic growth. Punjab is full of ideas. Punjabis came up with big ideas such as Zomato and Flipkart,” CM further said in his address.
Giving a snapshot of Punjab’s capabilities, the chief minister said Punjab is the country’s largest tractor manufacturer and contributes 29% of India’s total production.
Similarly, the state ranks second in tractor exports with a 22% share, he said, adding that the state contributes 80% in bicycle manufacturing and 92% of total bicycle components manufacturing in India.
Before delivering his address, the Punjab CM unveiled the state’s electric vehicle, logistics and industrial policies.
He informed the industry leaders that 95% of the suggestions mooted by the industry have been incorporated into the industrial policy and the policy would further be updated as per the requirement of the industry.
Earlier, he said, the industry was located along National Highway-1 but now the state has four major highways, the best rail connectivity and two international airports to facilitate industry.
In the welcome address, chief secretary VK Janjua said: “The Punjab government wants the investor to buy land for setting up industry and leave the rest to the state government. The government will dedicate an officer as a support and link between the investor and the government to speed up formalities.”
State investment promotion minister Anmol Gagan Maan said the state government has formulated policies to support investment in textile, food processing and information technology (IT) besides other sectors.
“Punjab has no labour unrest and the government is here to support the industry in every possible manner. Chief minister Mann has issued strict orders that the investor should not face any hassle. If you want to invest in the best, come to the land of Baba Nanak. It is the CM’s endeavour to make the land of Baba Nanak a progressive state and to give employment to the people of Punjab,” she said. “Punjab is being promoted as a destination for water tourism and we have a huge scope for tourism in religion and heritage sectors,” she said.
Ideal investment destination: CII
Anshuman Magazine, chairman of the Confederation of Indian Industry (CII), northern region, said the political leadership in Punjab has put in big efforts to bring industry leaders on a platform. “Punjab has an ecosystem for textile, IT, food processing and sports goods industry. By 2025, Punjab is expected to lead the country in non-foodgrain exports in the agri-sector. Mohali city has the potential to expand as an IT industry hub,” he said, adding that Punjab is an ideal investment destination for the industry.
Loyalty for Punjab: Medanta chief
Naresh Trehan, the chairman of the Medanta Group, said: “In 2009, we started out with bringing super-speciality health services in the country and have now decided to launch a hospital in Punjab. My loyalty is to Punjab as I come from Amritsar and have a lineage from Guru Angad Dev, the second Guru of Sikhs. It is my desire to do something for Punjab and I will look for options. This summit holds out new hope for youngsters, the future for Punjab is sky high.”
M&M set to expand in Punjab
Rajesh Jejurikar, the executive director of Mahindra and Mahindra said: “Punjabis are brilliant at entrepreneurship. Our Swaraj tractor headquarters in Punjab is the second-highest tractor seller in the country and the number one brand in Punjab. Besides, Scorpio and Thar jeeps on every crossing proves the boldness of Punjabis.”
M&M has four manufacturing units in Punjab and is investing in the fifth. “We could have gone anywhere but we decided to expand here. Club Mahindra would like to set up a resort at Ranjit Sagar Lake. We are in Punjab for years and would also like to be part of the new growth story,” he said.
Prabh Das, the chief executive officer and managing director of HPCL-Mittal Energy Limited (HMEL), said: “I am the biggest ambassador of Punjab in the world and would expand operations in here.”
Plan to double investment in state: Cargill
Cargill India president Simon George emphasised on connecting farmers with industry and customers. “At Cargill, we could connect farmers with industry and customers with your ingredients. We are in the business of anything in food with 13 manufacturing locations in the country. Punjab has been an important part in the Cargill growth story. The experience of working in Punjab has been unmatched and we plan to double investment in Punjab,” George said.
Doubling manufacturing in Punjab: RJ Corp
Ravi Kant Jaipuria, the chairman of RJ Corp, said: “We are an Indian multinational in the bottling business and the largest producer of Creambell ice-cream with two large plants in Punjab’s Pathankot and Phillaur. We employ 2,000 people and are doubling our bottling and juice manufacturing business. Youngsters here are willing to work hard and the state is ready to support investors.”
Arun Murugappan, the MD of Murugappa Group, said: “The bicycle plant in Rajpura is among the three plants we have in the state. We see Punjab as a progressive destination for industry.”
Nisaba Godrej, the executive chairperson of Godrej, said, “Godrej is the is the first choice of Punjabis and we committed to continuing our investment in the state.”
Punjab land of enterprise: Rakesh Bharti Mittal
Rakesh Bharti Mittal, vice-chairman of the Bharti Group, said: “I am a Punjabi from Ludhiana and Punjab has high hopes from the CM. Punjab is land of enterprise, Punjabis enjoy life and like to work hard. Punjab is the largest contributor to food security in the country. And in the Union budget, food storage is top priority. The role of services sector can’t be ignored. Bharti has invested ₹15,000 crore and provided employment to 50,000 people. Airtel will launch 5G services soon, starting with Mohali, Chandigarh, Panchkula and Ludhiana. Punjab’s mobile tower policy is awaited, he said, urging the CM to announce it at the summit.
Key steps to facilitate industry
For the first time, colour-coded stamp papers can be used for buying land to set up industry. The green-coloured stamp paper for the industry will mean that all the government departments will come to the industry’s doorstep to give all the permissions for setting up a unit.
Red-coloured stamp papers will be for setting up real estate projects
One nodal officer is to be attached to every industrial house interested in investing in the state. The officer will act as a link between the government and the investor and will facilitate getting all the permissions
No need for No Objection Certificates (NOCs) and change of land use (CLUs) for industry
End to the practice of signing memoranda of understanding (MoU) with the industry, investment based on knowledge sharing and learning experiences
Corporate social responsibility funds to be used on infrastructure building, particularly roads in the industrial focal points, which were never repaired and are non-existent now
