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Punjab invites investment in textile, food processing and IT sectors
Two-day 5th Progressive Punjab Investors’ Summit 2023 gets underway in Mohali with Bhagwant Mann-led AAP govt promising hassle-free investment
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.
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 is 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 destination for water tourism and we have a huge scope for tourism in religion and heritage sectors,” she said.
Punjabis global citizens: CM
Before delivering his address, the Punjab CM unveiled the state’s electric vehicle, logistics and industrial policies.
“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, 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. This summit will not be about memoranda of understanding (MoU), it will be about knowledge sharing, and learning from each other. MoU is an outdated thing. In the past, huge investment was shown on paper but nothing happened on the ground. Anyone launching in Punjab will never be in loss,” Mann said.
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.
Green signal for hassle-free investment
Mann said that Punjab is home to 75% of the country’s sports goods manufacturing whether it’s rugby balls, footballs or cricket bats for international competitions, they are manufactured in Jalandhar.
He said 95% of suggestions from the industry have been incorporated in the industrial policy and it will be updated according to the industry’s requirement.
The CM said that the Punjab government has introduced colour-coded stamp papers. “For industry, you will buy green stamp paper which means you will have all approvals for setting up the industry without hassles of no objection certificates (NOCs) and change of land use (CLUs) that are now a thing of the past. The industry just has to tell us where they want to set up a unit and government officials from different departments will approach them at their doorstep to give all approvals,” he 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 potential to expand as an IT industry hub,” he said, adding that Punjab is an ideal investment destination for 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 for 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 the 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 of 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 in the summit.
