Promises of fulsome support to fructify their investment plans
A delegation of Invest Punjab jointly led by Punjab Finance Minister Mr. Manpreet Singh Badal and PWD & Education Minister Mr. Vijay Inder Singla urged the Co-founder & Non Executive Chairman of Infosys Mr. Nandan Nilekani and president & MD of Volvo Group Mr. Kamal Bali to make investments in Punjab as it was a land of enormous opportunities.
The delegation called on Mr. Nilekani and exhorted him that a multinational company like Infosys should come forward to establish a big ticket project in Punjab. Mr. Nilekani evinced keen interest to develop Start-up ecosystem by Infosys in view of the excellent IT and ITES infrastructure existing in the IT city Mohali as informed by the delegation.
Later the delegation called on the President and MD of world renowned luxury vehicles manufacturing group Volvo Mr. Kamal Bali. During the deliberations the delegation impressed upon Bali to setup a Volvo Design Centre and a Service Centre in Punjab besides opening a Skill Development Centre to impart basic training to drivers for honing their driving skills so as to enable them to be gainfully employed across the globe.
Taking part in the deliberations, Mr. Badal apprised the Volvo Group President that the Punjab Government under the stewardship of the Chief Minister Captain Amarinder Singh has made rapid strides in the industrial sector and subsequently the lucrative incentives/concessions being offered by the State has further given impetus to the investment sentiment in Punjab. He said that the congenial investment climate coupled with the investor friendly State Industrial and Business Policy has revived the industrial growth in Punjab, which was reflective from huge investments worth over Rs. 50,000 crore since our government assumed office in March 2017. He also promised to extend wholehearted support and assistance to the investors to getting their investment plans fructified.
Highlighting the bold initiatives taken by State Government to further bolster industry, the Finance Minister mentioned that the Invest Punjab was a ‘One Stop Office’ for providing regulatory clearances on fast track and extending investment support to the prospective investors and entrepreneurs. He also pointed out that the ‘Invest Punjab-Business First Portal’ has proved to be a milestone in giving clearances for 46 regulatory services of 16 departments/agencies available on the portal for industry besides fiscal incentives to MSME and large units. Mr. Badal further said that Punjab was swiftly emerging as the most favoured investment destination, which was evident from the fact that several multinational companies and world acclaimed industrial groups had evinced keen interest to invest in Punjab.
PWD and Education Minister Mr. Vijay Inder Singla said that the New Industrial Policy has propelled the state into the orbit of high growth trajectory and Punjab would soon emerge as the leading state on the country’s industrial map.
The Additional Chief Secretary Investment Promotion, Industry and Commerce Ms. Vini Mahajan assured of all fulsome support and cooperation to the investors and industrialists, who intend to choose Punjab as their future destination for industrial investments.
Prominent amongst those present on the occasion included CEO Invest Punjab Mr. Rajat Aggarwal and Special Principal Secretary to Chief Minister Mr. Gurkirat Kirpal Singh.
DESCRIBES IT AS A LAND OF ENORMOUS OPPORTUNITIES AND TREMENDOUS INDUSTRIAL POTENTIAL
VIJAY INDER SINGLA PINPOINTS CONDUCIVE BUSINESS ECO-SYSTEM AND DYNAMIC LEADERSHIP FOR MAKING PUNJAB AS THE MOST PREFERRED INVESTMENT DESTINATION
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.
While presiding over the session on Punjab industrial scenario during 8thInvest 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 that 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 Badal adding that Punjabis with their indomitable spirit again put the state back on the rails of development. He said that 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.
Manpreet Badal further mentioned that immediately after taking over the reins in March 2017, the State Government under the visionary leadership of Captain 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 the 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 further said that 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, etc. have evinced keen interest to invest in State.
Listing few innovative steps to boost industry, Manpreet Badal said that ‘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, the Finance Minister assured them of fulsome support and cooperation to put their ventures in the state as it was a land of enormous business opportunities.
Speaking on the occasion, PWD and Education Minister Vijay Inder Singla said that Mohali in Punjab was emerging as a big industrial hub after Hyderabad and Bengaluru in the country. He said Punjab with the conducive business eco-system, excellent road and air connectivity, congenial industry-labour relations and above all under the dynamic and decisive leadership of the Chief Minister Captain Amarinder Singh had enabled to propel the state into the orbit of high growth trajectory.
In her welcome address, the Additional Chief Secretary Investment Promotion, Industries and Commerce Vini Mahajan outlined the broad contours of Punjab industrial and business policy, which is aimed at ensuring ease of doing business to the prospective entrepreneurs and industrialists.
On the occasion, the CEO Punjab Bureau of Investment
Promotion Rajat Aggarwal made a detailed presentation on the overall industrial scenario in the state besides focusing on the prospects of emerging industrial sectors like information technology, agro & food processing, IT/Electronics System Design and Manufacturing, Auto & Auto components, textile and start-ups etc. He also invited industrialists and entrepreneurs to participate in the Investor Summit being organised at Mohali on December 5 and 6, which would offer them a healthy platform to interact with the local industrialists about their investment plans in Punjab.
Meanwhile, five eminent industrialists including chairman CII Punjab State and CEO Mahindra & Mahindra (Swaraj Division) Harish Chavan, Managing Director CLASS India Ltd. Sriram Kannan, CEO Godrej Tyson Prashant Vatkar, MD & CEO HPCL-Mittal Energy Ltd. (HMEL) Prabh Das and Chairman Trident Group Rajinder Gupta shared their first hand experience of doing business in the state, their expansion plans and success attributed to the Industrial Business Development Policy of the state. These industrialists also extended an invite to the prospective entrepreneurs to visit Punjab to assess the tremendous potential of industrial growth in key focus sectors like IT & ITES, auto ancillaries and textiles.
Earlier, the inaugural session was presided over by the Chief Minister of Uttarakhand Trivendra Singh Rawat. The Finance Minister, Punjab, Manpreet Singh Badal, School Education & PWD Minister, Punjab, Vijay Inder Singla, Tourism Minister Uttarakhand Satpal Maharaj, Deputy Chairman CII Northern Region & Vice Chairman & Managing Director Triveni Turbine Ltd. Nikhil Sawhney, Chairman CII Northern Region and Chairman & Managing Director Jakson Engineers Ltd. Sameer Gupta were also present on the occasion.
Prominent amongst those present on the occasion included Special Principal Secretary to Chief Minister Gurkirat Kirpal Singh and Rajesh Dhiman.
Chief Minister Capt Amarinder reviews situation, seeks comprehensive rehabilitation plans
Setting aside a total of Rs. 475.56 crore for the flood-hit districts of the state, Punjab Chief Minister Captain Amarinder Singh on Wednesday ordered the concerned officials to prepare comprehensive rehabilitation plans for the ravaged areas, including the works needed to be carried out post the relief operations.
While Rs. 242.33 crore is being used for the immediate infrastructure works/relief operations, another Rs. 233.23 crore will be provided in the short and long term, after proper damage assessment and planning.
Reviewing the flood situation, Captain Amarinder asked the Chief Secretary, who is heading the disaster management group, to ensure prompt execution of post-flood infrastructure works to address the damage caused to the public installations. He also emphasised the need for constant monitoring of the post-flood operations to ensure time-bound action on such plans as may be prepared for the affected districts.
The Chief Minister has directed all the Deputy Commissioners to prepare rehabilitation plans and ensure supply of food, drinking water, shelter and medicines to all the affected people till so required. He also asked the Animal Husbandry department to provide the necessary fodder and medicines for the livestock in the affected areas on priority.
The review meeting was informed that of the total Rs.475.56 crore set aside for the execution of flood relief/infrastructure works, a sum of Rs.68.75 crore would be spent on restoration works in Rupnagar district, Rs.91.38 crore in Moga, Rs.119.85 crore in Jalandhar, Rs.189.62 crore in Kapurthala, Rs.54 lakh in Fazilka and Rs.5.42 crore in Ferozepur.
Captain Amarinder Singh asked the Additional Chief Secretary (Development) to ensure that the agricultural land affected by floods is reclaimed and restored for the sowing of the next crop well in advance. He assured necessary assistance for the affected farmers in the form of compensation for their losses and free seeds.
The Chief Minister was apprised that the flood-hit farmers would be compensated @ Rs.12,000 per acre (GoI-share Rs.5000 and the State Government Rs.7000). The compensation would also include de-silting of land affected by floods. The compensation would be disbursed after completion of special girdawari, which the State Revenue Department has already ordered.
Deferring recovery of crop loans of the affected farmers taken from the State Cooperative Banks, the Chief Minister stated that he would take up this issue with the Government of India to request for a similar decision by the Commercial Banks in the State.
It may be noted that the state government has already announced Rs. 4 lakh per person to compensate the families of the deceased, besides monetary assistance to compensate the affected families in lieu of loss of their animals @ Rs.30,000 per milch cattle, Rs.25000 for bullocks and Rs. 3000 for sheep, goat and pig. The State Government, as per policy, would compensate the affected families @ Rs1.00 lakh for the fully damaged pucca house and @ Rs.95000 for fully damaged kacha house. Farm labourers and other workers would also be compensated @ Rs. 60 per day per adult and Rs.45 per day per child, not housed in any relief camps set by the Government.
So far, eight persons have been reported dead – one each in Fazilka, Roopnagar and Jalandhar district and five in Ludhiana. One person is reported to be missing and 12 are injured. Total crop area of over 1.72 lakh acres was affected due to flooding.
As far as damaged houses are concerned, 298 pucca houses are partially and 1457 fully/severly damaged whereas 64 kutcha Houses are partially and 49 fully/severely damaged. As many as 4228 cattle died in the flood-hit areas. Apart from this, 5973 persons were evacuated to safer places. 99 relief camps for inmates were set up, where 2776 persons were housed. Nearly, 3000 cattle were kept in four relief camps. An average rainfall of 22 districts was reported to be 317.63 mm, which mainly caused damage in 544 villages of 18 districts, thereby affecting 13,635 persons.