Punjab needs to improve policies to attract FDI: NRIs

Punjab needs to follow Gujarat’s lead and improve its ‘poor’ policies if it wants to attract more investment from overseas Indians, non-resident Indians (NRIs) at an investment meet here today said.

“I do not see any major schemes or major development from Punjab or the state government which really helps (in getting NRI investments),” said Punjabi NRI Satinder Dhiman, who migrated to the US from Jalandhar 22 years ago.

“It will be logical for the state government to look into it as a lot of (NRI) money is out there,” he said at the 8th ‘Punjabi Pravasi Bharatiya Divas-2011’ NRI investors’ meet here, adding, the real estate, education, services and IT are the potential sectors where NRI investments could flow in.

Another NRI, Mahendra Khari, the president of the International Punjabi Chamber for Service Industry (IPCSI), pointed that unlike other states like Gujarat, the Punjab government was not efficient in propagating polices or taking initiatives to attract foreign investment.

“In Punjab, they (Punjab government) do not have much public relations exercise like Gujarat... I have not seen much support from state functionaries like NRI help centres, professional support, etc.. It (support) is at a personal level (rather) than any other level,” rued Khari, who is based in the UK. The Punjab government, too, thinks there is scope for more investments by NRIs in the state.