Manpreet woos industrialists to make investments in Punjab

Manpreet woos industrialists to make investments in Punjab

Agency News

Bengaluru, Aug 29 : Giving a clarion call to the entrepreneurs and industrialists, Punjab Finance Minister Manpreet Singh Badal on Thursday exhorted them to make huge investments in the state as it has an investor friendly climate coupled with lucrative incentives and concessions. Presiding over the session on Punjab industrial scenario during 8th Invest North organised by CII, Punjab here, the Finance Minister recalled the unparalleled contributions of Punjab in steering our great nation to its independence.

He said since time immemorial, Punjab has been the cradle of civilization and culture, and its immense contribution to feeding the nation and securing the country’s borders from external as well as internal aggression has rightly earned it the epitaph of ‘Food Bowl and Sword Arm of India’. Unfortunately, Punjab has passed through turbulent times, including the decade-long terrorism and violence that retarded its economic growth and prosperity during those dark days, said Manpreet, adding that Punjabis with their indomitable spirit again put the state back on the rails of development.

He said probably Punjab was the only state in the country which had recouped from a trail of several odds and tribulations since 1947 with the traditional grit of brave Punjabis. He mentioned that immediately after taking over the reins in March 2017, the state government under the leadership of Capt Amarinder Singh took varied path-breaking initiatives coupled with fiscal prudence to scale new heights of development in all spheres. With the introduction of investor-friendly initiatives, the state government successfully reversed the unfortunate trend of industry fleeing from state due to ill-conceived industrial policies of the previous government.

The congenial investment climate coupled with investor friendly policies not only reposed trust and confidence amongst the entrepreneurs but also brought in a new wave of industrial growth in the state in terms of positive investment sentiment, which is evident from the fact with over Rs. 50,000 crore investments have been firmed up since we took over, he said. Manpreet further said Punjab was swiftly emerging as the most favoured investment destination not only amongst the entrepreneurs from the country but also from across the globe with several foreign delegations from Japan, China, UAE, Spain, Singapore among others having evinced keen interest to invest in State.

Listing few innovative steps to boost industry, the Minister said , ‘Invest Punjab-Business First Portal’ has been successfully launched, which facilitates in providing clearances for 46 regulatory services of 16 departments/agencies available on the portal for industry besides giving fiscal incentives to MSME and large units. Calling upon the captains of Industry to invest in Punjab, Manpreet assured them of fulsome support and cooperation to put their ventures in the state as it was a land of enormous business opportunities. UNI