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CM Bhagwant Mann pitches Punjab as top investment hub in Bengaluru
The CM, during his interaction, said that since March 2022, Punjab has received investment proposals worth ₹1.23 lakh crore, which will generate employment for around 4.7 lakh youth.
Chief minister Bhagwant Mann on Tuesday interacted with industrialists in Bengaluru, pitching Punjab as a preferred investment destination.
The CM, during his interaction, said that since March 2022, Punjab has received investment proposals worth ₹1.23 lakh crore, which will generate employment for around 4.7 lakh youth.
“Sectors such as food processing, textiles, auto components, hand tools, bicycles, IT, and tourism are positioning Punjab as a role model for other states. Tata’s second-largest steel plant in India, after Jamshedpur, is coming up in Ludhiana. Punjab continues to attract investments from developed nations such as Japan, the USA, Germany, the UK, the UAE, Switzerland, France, and Spain,” he added.
Mann said that the FastTrack Punjab portal is India’s most advanced single-window system, offering more than 150 business services with the notable advantage of completely eliminating the need for offline applications.
“Under the Punjab Right to Business Act, the state government grants in-principle approval within three days to projects with an investment of up to ₹125 crore,” Mann said, adding that the time limit of 45 days has been set for granting approvals.
He added that if approvals are not issued within this period, they are automatically treated as deemed approved.
The CM said that assistance to investors is regularly provided through WhatsApp, AI chatbots, and call centres. “The state government has established committees for 24 different industrial sectors, with the goal of drafting targeted strategies and roadmaps for each,” Mann added.
Mann further apprised the investors that the sixth Progressive Punjab Investors Summit is being organised in Mohali from March 13 to 15 March next year and invited all investors to participate in the event.
“The summit will provide a common platform for industrialists, policymakers, and innovative thinkers to exchange ideas and share their visions,” he said.
