Punjab Chief Minister Bhagwant Mann on Friday said that massive investment made by the Tata group in the state will herald a new era of industrial development and progress in the state after he performed the groundbreaking ceremony of a Green Steel Plant coming up at a cost of nearly Rs 2600 crore.
He said that this is the second largest plant by Tata group in the country after Jamshedpur adding that this is the company of Patriots who have played a pivotal role in national freedom struggle. Mann said that besides opening new avenues of employment for the youth, this project will act as a catalyst in giving a fillip to the industrial development of the state.
Mann announced that the state government will construct the road leading to the site of the plant from the National Highway. He said that Punjab is known for its spirit of enterprise, which is bolstered by the warm and welcoming people of the state. He said that this spirit of dynamism has allowed Punjab to become the most preferred investment destination in the country. Mann said that due to strenuous efforts of the state government Punjab is today the first choice for the investment of many global giants.
He said that due to efforts made by the state government, Punjab has so far received investments to the tune of Rs 56,796 crores since mid-March 2022, and generated employment opportunities for 2.98 lakh youth. He said that during the last 18 months, some of the biggest companies like Tata Steel, Sanathan Textiles, Toppan, and Freudenberg Group are making a beeline to invest in the state.
The Chief Minister said that in February 2023, mini conclaves were hosted in Amritsar, Jalandhar, Ludhiana, Mohali, and Pathankot providing a platform to interact with local industry stakeholders and gather suggestions. He said that to further enhance engagement, a WhatsApp Number and Email was launched for getting the suggestions of industrialists in July 2023. Bhagwant Singh Mann said that based on the feedback received during the mini conclaves as well as pursuant to the toll-free helpline, the government formulated policy reforms which were announced during the Sarkar Santkar Milnis.
Mann said that the state government has taken some unique initiatives like colour-coded stamp paper thereby introducing ‘Green Colour Stamp Paper for Registration of Sale Deed along with Inbuilt CLU’. In addition to this, he said that Punjab recently launched Industrial policy 2022 which offers a host of attractive incentives. Bhagwant Singh Mann said that Invest Punjab has emerged as ‘Top State Investment Promotion Agency’, which serves as the single point of contact for any investor.
He said that Invest Punjab has been instrumental in providing momentous support in facilitating Tata Steel's entry and other marquee into Punjab.
The CM pointed out that Punjab is also home to prestigious educational institutions such as IIT, IIM, ISB, and more which are helping in providing a pool of skilled manpower to the industrialists. He said that investments by Tata Steel, Nestle, Freudenberg, Claas, PepsiCo, Coca Cola, Cargill and others demonstrate Punjab’s commitment to fostering a conducive business environment. Bhagwant Singh Mann said that Punjab is also the preferred investment destination for international companies looking to launch in India or expand their footprint in the country.
Lauding the Tata Steel Limited for believing in Punjab and setting up this recycled steel plant, the Chief Minister said that the state is excited about the positive impact of this project on Punjab’s economy and the community. He assured fulsome support and cooperation to Tata Steel Limited in Punjab for times to come. Bhagwant Singh Mann wished a bright future for Tata Steel in the state and described it as the dawn of a new era.
