Punjab on path to become preferred investment destination: CM Amarinder Singh

Chief Minister Amarinder Singh on Friday expressed satisfaction at the state's success in promoting a robust investment environment, and said he is confident that Punjab is on the path to become the frontrunner on India's industrial map, and the most-preferred global investment destination. The chief minister lauded the stupendous progress in creating an investment-friendly ecosystem, facilitating 2,661 investment proposals worth Rs 86,819 crore, received till May 2021, with an employment potential of 3,23,260, the state government said in a statement.

Singh said the industrial sector in the state had seen a "massive growth since his government took over in March 2017".

The new industry-friendly policies initiated by his government, which had promoted ease of business, had attracted investor confidence, he said.


The chief minister pointed out that despite the sluggishness in the economy due to the COVID-19 crisis, the state had received a whopping 267 investment proposals worth Rs 2,277 crore in May 2021.

Singh also appreciated the efforts of the Punjab Bureau of Investment Promotion (PBIP) in initiating several pathbreaking steps to ensure prompt clearances to prospective investors/entrepreneurs to set up their industrial units.

He said the recent decision to set up a District Bureau of Industry and Investment Promotion (DBIIP) in each district would further promote ease of doing business in the state.

This, he said, will facilitate timely grant of clearances, approvals, and no-objection certificates, applied through the 'Invest Punjab-Business First' portal.

Principal Secretary (Investment Promotion) Alok Shekhar said that of the Rs 2,277 crore worth of proposals received in May 2021, Rs 1,206 crore worth were related to key projects in real estate, housing and infrastructure, tourism and hospitality, healthcare, manufacturing and agri, food processing and beverages.

Invest Punjab CEO Rajat Aggarwal said that of the total 2,661 projects initiated since March 2017, 54 per cent have begun commercial production, while 37 per cent are under- or post-construction stage.

Giving the district-wise break-up of investment with employment potential from March 16, 2017, till May 31, 2021, Aggarwal said that Bathinda, with 70 projects worth Rs 24,698 crore, tops the list with job potential of 24,750 persons.

It is followed by Mohali with 609 projects involving investment of Rs 23,172 crore with 61,663 jobs, and Ludhiana with investment of Rs.12,094 crore in 590 projects with proposed employment of 88,836 persons.