Punjab witnessing surge in new investments: Govt
The Punjab government on Monday announced that the new industrial policy and other ease of doing business initiatives of the state government have facilitated investments in the state
The Punjab government on Monday announced that the new industrial policy and other ease of doing business initiatives of the state government have facilitated investments in the state.
“A total of 507 industrial projects have been bagged by the state between January 2023 to March 2023, of which 318 projects pertain to the manufacturing sector, 139 to the services sector, and 50 are connected with the real estate sector,” said a government spokesperson.
He added that chief minister Bhagwant Mann and minister for investment promotion, Anmol Gagan Maan unveiled the “Industrial and Business Development Policy 2022” at the 5th Progressive Punjab Investors’ Summit 2023.
This diversification indicates the state’s ability to cater to different sectors and leverage its resources for sustainable economic growth. The investments have been primarily in agri and food processing ( ₹ 720-crore), NRSE power projects ( ₹400-crore), pharmaceuticals ( ₹300-crore), and auto and auto components ( ₹160-crore). This surge in investments demonstrates the growing confidence of businesses in the state’s business ecosystem, the spokesperson said.
Anmol Gagan Maan has expressed optimism about the investment surge, stating, “Punjab’s manufacturing sector has witnessed exceptional growth at the start of this calendar year, reflecting Punjab government’s commitment in creating a business-friendly environment”.