Punjab gets proposals of Rs 13,458-crore investment

CHANDIGARH: Punjab has received 198 proposals entailing total investment of Rs 13,458 crore during the last one year, the state government said today.

The proposals include those from ITC, Cargill India, Amul, Mahindra Agro and Sonalika Tractors. The newly constituted Bureau of Investment Promotion has granted all regulatory clearances to 96 of the projects, an official spokesman said here.

"In past one year, the government received 198 proposals with an proposed investment of Rs 13,458 crore," he said. "Punjab has emerged one of the most developed states in different spheres, including agriculture, industry and services," the spokesman said.

In order to overcome the global recessionary trend and to establish a congenial industrial atmosphere, the state government has implemented Fiscal Incentives for Industrial Promotion 2013 and established the Punjab Bureau of Investment Promotion (PBIP), he said.

The state organised 'The Progressive Punjab Investors Summit' on in December, 2013 at the Indian School of Business, Mohali, as part of this investment campaign, the spokesman said.

It plans to hold the next 'Progressive Punjab Investment Summit' in the month of October.