Amarinder pitches Punjab as ideal investment destination

Chandigarh: Punjab Chief Minister Amarinder Singh on Tuesday pitched the state as an ideal investment destination and invited industry stalwarts to gauge for themselves the conducive industrial climate.

He was addressing a virtual meeting with industry leaders, including Hindustan Unilever Ltd (HUL) CMD Sanjiv Mehta, Biocon's Executive Chairperson Kiran Mazumdar-Shaw and Tech Mahindra MD C P Gurnani, among others.

Asserting his commitment to make Punjab an industrial powerhouse, Singh said he wants the state to lead in both industry and agriculture.

The chief minister invited the industry stalwarts to visit Punjab and gauge for themselves the conducive industrial climate created by his government, as per an official release.

He cited the state's business-friendly policies, seamless connectivity, high-end infrastructure, skilled labour, along with reputed educational institutions as some of the key factors making it an ideal investment destination.

There is a lot of interest in Punjab with its various incentives and policies, including power at Rs 5 unit, he said.

With investments worth Rs 65,000 crore secured in the past over three years, and with four mega industrial parks coming up, Punjab has already proved itself as an attractive investment potential for large corporates, he added.

Even during the COVID-19 pandemic, the state has received investment of about Rs 2,500 crore, the statement quoted Singh as saying.

Migrants are returning in large numbers since the lifting of the lockdown and 2.34 lakh units in Ludhiana are already operational.

To revive the economy in the post-COVID-19 era, the state government has appointed a high-level expert committee, headed by economist Montek Singh Ahluwalia, to formulate short- and medium-term action plans, Singh informed the meeting.

HUL's Sanjiv Mehta requested for 12-hour shifts to be allowed for workers and one designated person in the district administration to coordinate with the industry in the eventuality of a spike in COVID-19 cases among employees, the statement said.

He also sought a nodal officer in the government to coordinate for the company's proposed Rs 500 crore investment in the state.

He offered partnership with the Punjab government for a women empowerment (Shakti) programme.

Biocon's Kiran Mazumdar-Shaw said Punjab has immense opportunity for investing in digital healthcare and systems to create jobs.

Punjab has the ecosystem which her company can leverage to create jobs in the state, she added.

(PTI)