Punjab nets Rs 65,000 cr worth of investments

Progressive Punjab Investment Summit, the first ever investors' meet organised by the Shiromani Akali Dal - Badal government, received a huge response, with 117 comapanies committing investments worth Rs 65,000 crore. These projects after they take off will generate about 300,000 jobs.

The investments were mainly in sectors such as textiles, housing, information technology (IT), education, manufacturing, agro-processing and others.

Buoyed by the response, Deputy Chief Minister Sukhbir Singh Badal announced the summit would be an annual feature.

Badal said, "The event was very successful as we received an overwhelming response from corporates across all sectors. Overall, 117 companies are willing to invest Rs 65,000 crore in the state. The committed investment by various companies clearly indicates it is one of the most sought destinations for the Industrialists. We are going to facilitate them in every possible manner and offer them whatever we have committed."

The deputy chief minister said the Punjab Bureau of Investment Promotion (PBIP) would facilitate clearances in a hassle-free manner for the investors and the chief executive officer of the bureau had been made accountable to give sanctions with regards to the departments.

"Looking at the enthusiasm of industrial houses, I expect that next year, we would need bigger space, so we are planning to extend it to Ludhiana and Amritsar, besides Mohali," he added.