Rs 1.25 lakh Cr of investment received since AAP Government formed in Punjab

New Delhi (The Uttam Hindu): Cabinet Minister Sh. Sanjeev Arora today met with prominent industrialists in Gurugram and held detailed discussions on attracting major investment to Punjab. Our government is committed to driving large scale investments and expanding employment opportunities through its Invest Punjab initiative. We have received investment of Rs 1.25 lakh Cr since our government formed in Punjab and four hundred and fifty thousand people got employment by these investment.

Addressing the media, he informed that a lot of industrialists are showing keen interest in investing in Punjab such as steel, IT and semiconductors etc. A hospital chain is also coming up in Punjab. Infosys Ltd. is also expanding his plant in Mohali which will provide employment opportunities to 2500 Punjabis.

He further revealed that Steel plants will be set up in Punjab by Vardhaman steel and Happy forging. Besides, Fortis hospital will also invest an amount of Rs. 950 crores in Mohali. Recently, we have constituted 24 industrial committees of different sectors and all these committees represent different industrial sectors. There are 12 members in each committee of different industries such as Steel, Heavy Industries, Hosiery Textile, Bicycles, IT, Semiconductors, Hospitality and Healthcare etc.

He is expecting that all the reports of the committees will be presented within this week because the deadline is first of October. All these committees were being monitored regularly by the industries department. We are coming up with a new industrial policy which will take care of every sector of industry.

He said the Right to Business Act has been passed in the Punjab Legislative Assembly. In the Right to Business Act, all the industries which are covered under Green category environment and quite a few which are covered under Orange category will be given permissions ranging from 5 days to 18 days depending upon their location. If they are located in an approved Industrial Park or a real estate project, they will get all the permissions within five days. All investors will get the approvals within 45 days in Punjab. Projects will automatically be deemed approved if industries do not get approval within 45 days.