Punjab Secures Rs 88k-cr Investment under AAP Govt: Minister

| | Chandigarh
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Punjab Secures Rs 88k-cr Investment under AAP Govt: Minister

Tuesday, 04 February 2025 | PNS | Chandigarh

In a major boost to Punjab’s industrial sector, the state’s Industry and Commerce Minister Tarunpreet Singh Sond on Monday announced that the state has attracted investments worth Rs 88,014 crore since March 2022.

 

The investments, spanning multiple industries, are expected to create over four lakh jobs, reinforcing Punjab’s position as a business-friendly destination. “Punjab is emerging as an industrial powerhouse. Our industry-friendly policies have attracted both national and international investors, making the state a preferred hub for business expansion,” said Sond while inviting more industrialists to set up their ventures in Punjab. 

 

He informed that Punjab has received a total of 5,574 investment proposals since the formation of the AAP-led government, reflecting the growing confidence of investors in the state's policies.

 

Some of the major investments secured are Rs 2600 crore by Tata Steel Limited; Rs 1600 crore Sanathan Polycot Private Limited; Rs 1,400 crore by Ambuja Cements Limited; Rs 1137 crore by Ruchira Papers Limited; Rs 583 crore by Nestlé India Limited; Rs 339 crore by Freudenberg Group, Rs 160 crore by Cargill India Private Limited, among others.

 

These projects span across steel, cement, manufacturing, food processing, and speciality films, contributing significantly to Punjab’s economic growth. 

 

Sond emphasized that the Bhagwant Mann-led Government is committed to making Punjab an industry-friendly state, ensuring a hassle-free investment environment. “Our policies allow small and medium enterprises (SMEs) to start operations with just a simple affidavit, while the necessary documentation can be completed within three years. This is a game-changer for businesses looking for quick expansion,” he stated. 

 

The State Government is also focusing on speedy clearances, infrastructure development, and a pro-business regulatory framework to encourage more industries. 

 

Highlighting Punjab’s proactive approach to investment facilitation, Sond revealed that the Invest Punjab portal ranks first among 28 states in terms of efficiency. He added that 58,000 new SMEs have already registered on the portal — a record achievement; and the platform offers single-window clearance for industrial projects, reducing bureaucratic delays. 

 

“With a peaceful and conducive business environment, Punjab continues to be a preferred destination for industrial growth, promising economic prosperity and employment opportunities for its people,” he added.

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