Since March 2022, Punjab has received ₹1.23 lakh crore in investment proposals, expected to generate jobs for around 4.7 lakh youth, said CM Bhagwant Mann.
Bhagwant Mann, the chief minister, engaged in discussions with industrialists in Bengaluru , emphasizing Punjab as an investment destination.
The Chief Minister stated during his interaction that Punjab has received investment proposals totaling ₹1.23 lakh crore since March 2022. These proposals are expected to create employment opportunities for approximately 4.7 lakh young people.
Food processing, textiles, auto components, hand tools, bicycles, IT, and tourism are all sectors that are establishing Punjab as a model for other states. After Jamshedpur, Ludhiana will be the site of Tata’s second-largest steel mill in India. According to him, Punjab continues to draw investments from developed nations, including the United States, Japan, Germany, the United Kingdom, the United Arab Emirates, Switzerland, France, and Spain.
Mann stated that the FastTrack Punjab portal is the most advanced single-window system in India, providing over 150 business services and eradicating the necessity for offline applications.
Mann said that the state government grants in-principle approval to projects with an investment of up to ₹125 crore within three days under the Punjab Right to Business Act. He also mentioned that the approval process is subject to a 45-day time limit.
He also stated that if approvals are not issued within this timeframe, they are automatically considered to be approved.
According to the chief minister, investors are frequently assisted via call centers, AI chatbots, and WhatsApp. Mann also stated that the state government has established committees for 24 distinct industrial sectors with the objective of developing targeted strategies and roadmaps for each.
Additionally, Mann informed the investors that the sixth Progressive Punjab Investors Summit will be held in Mohali from March 13 to 15 of the following year. He extended an invitation to all investors to attend the event.According to him, the summit will serve as a shared platform for industrialists, policymakers, and innovative thinkers to exchange ideas and express their visions.
According to him, the summit will serve as a shared platform for industrialists, policymakers, and innovative thinkers to exchange ideas and express their visions.