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Punjab CM asks industrialists to become partners of socio-economic growth

Punjab CM Bhagwant Mann gave a clarion call to industrialists to become partners of socio-economic growth in the state as the two-day Progressive Punjab Investors Summit began here

Chandigarh: Punjab CM Bhagwant Mann speaks during a function to provide financial assistance to the kin of the farmers, who died during the protest over farm reform laws, in Chandigarh, Sunday, May 22, 2022. (PTI

Press Trust of India Mohali
Punjab Chief Minister Bhagwant Mann on Thursday gave a clarion call to industrialists to become partners of socio-economic growth in the state as the two-day Progressive Punjab Investors Summit began here.
Addressing business leaders during the inaugural session here, Mann said Punjab is the most favourable investment destination across the country and no stone will be left unturned to facilitate investors.
He envisioned a strong association between the state government and industrialists to make Punjab an industrial hub in the country, according to an official statement.
In order to facilitate investors for making investments in the state, the state government will soon abolish the Change of Land Use (CLU) and no-objection certificate (NOC) that had haunted the industries in earlier times.
Welcoming industrialists, Mann said merely within one year of assuming responsibility as a chief minister, his first and foremost task has been to get first-hand knowledge of the problems of the complexities faced by the people.
His government's vision and ambition are to continue to evolve to keep pace with changing expectations and new challenges, he noted.
Seeking to strike an emotional chord with entrepreneurs, Mann said they are a source of opportunities that the youth of Punjab and India want to avail.
No matter if we are working in the public, private or non-profit sectors, each of us has a role to fulfil if we are to achieve our hopes and fulfil our aspirations and responsibilities to our country, our society, our families and ourselves, he said.
Mann said the summit is not about MoUs, but about knowledge sharing, brainstorming and learning from each other.
On his government's policies and initiatives to support businesses and investors, the chief minister expressed hope that the new industrial policy 2022, which was unveiled on Thursday, will accelerate the desired economic growth.
The policy aims to attract huge investment and generate maximum employment in the coming five years, he added.
The policy provides competitive incentives to all segments of investments, including expansions and new MSMEs, large units, export promotion, startups of service and manufacturing, Mann said.
This policy will provide a roadmap for infrastructure development, such as industrial parks, airports, and ports, which will further facilitate the movement of goods and people and enhance the state's connectivity to global markets, he noted.
The state government is developing an integrated industrial township, Mann said, adding that it has taken a major decision to build 20 rural industrial clusters and 15 industrial parks.
Giving a snapshot of Punjab's capabilities, the chief minister said Punjab is the country's largest tractor manufacturer and contributes 29 per cent of India's total production.
Similarly, the state ranks second in tractor exports with a 22 per cent share, he said, adding that the state contributes 80 per cent in bicycle manufacturing and 92 per cent of total bicycle components manufacturing in India.
Meanwhile, speaking on this occasion, chairman of Medanta Group Naresh Trehan said that since Punjab is a developing economy, there is a lot of potential in the state.
He said his roots go deep in Punjab and with the active support of the state government they are exploring opportunities to invest in the health sector of the state.
In her address, Godrej Consumers Products Ltd executive chairperson Nisaba Godrej said it is heartening to learn about the steps being taken by the state government to promote investment.
She also lauded the professional and industrial-friendly approach of the chief minister to transform the state. Godrej appreciated the state government for setting up schools of eminence to impart quality education to students.
Bharti Group Vice Chairman Rakesh Bharti Mittal said the state has high hopes from the chief minister and his government. He said this is the land of enterprise, hardworking and dedicated people.
The increase in gross state domestic product as compared to last year speaks volumes of the transformation of Punjab, Mittal said, adding he also congratulated the chief minister for working for the betterment of the state in a mission mode with pure intentions.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Feb 23 2023 | 10:07 PM IST

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