Birthday of Sri Guru Ramdas Ji

turing sector, 25 per cent of
them are in the agro/ food processing
sector.
Mohali and Ludhiana have
been the most favoured investment
destinations in the state.
In the run-up to the
investors'
summit, the government
has been in an action
mode to present its report card
and also offer additional incentives
to woo investors.
Besides the plethora of fiscal
incentives being offered to
investors under the Industrial
Policy of 2013, including the
VAT retention policy, seeing the
low economic sentiment in the
country, the state is now offering
pre-cleared sites and assuring immunity
hike in power tariff.
“The incentives are unmatched
and the Invest Punjab Bureau has
made the process of getting clearances
easier. We are hopeful that
all major homegrown industries
and foreign investors would
choose Punjab as a preferred investment
destination,” says the
deputy CM.
SINGLE WINDOW
WONDER
Among the major initiatives of
the government has been the setting
up of the Punjab Bureau of
Investment Promotion as the single
point of contact for regulatory
clearances and fiscal incentives
approvals to facilitate investors
who are looking to set up business
in Punjab
In fact, the one-stop clearance
system initiated by the Punjab
Bureau of Investment has been
the first of its kind in the country
to cut red-tapism and provide a
“
T
he ‘Progressive Punjab’
campaign celebrates
the spirit of Punjabi
enterprise, openness, hard work
and welcoming warmth for one
and all. It shares the “Make in
India” vision of the Prime Minister
and positions Punjab and
India as the easiest place to do
business.
unique facility to investors.
This initiative has won accolades
from Prime Minister Narendra
Modi as much as from the
World Bank.
The PBIP was set up in 2013
as the single point of contact for
regulatory clearances and fiscal
incentives approvals to facilitate
investors looking to set up a business
in the state. As a nodal
agency , it has been entrusted
with the responsibility of ensuring
a smooth
transition of a
project from
proposal stage,
up to the implementation
stage.
Invest Punjab
CEO Anirudh
Tiwari pointed
out that Punjab
had cleared 216
projects last
year with an investment
of Rs
15,000 crore, of
which 39 per
cent were in the agro and food
processing sector and 30 per cent
Chief Minister Parkash Singh Badal
Punjab has taken rapid strides in strengthening infrastructure, upskill
workforce and some sector-specific initiatives, including setting
regulatory and fiscal incentives related approvals under one office.”
in the manufacturing sector.
“Punjab is the only state in
which the single window system
allows application for all licenses
studied in this assessment, although
some others come very
close,“ says the World Bank's recent
report .
PM PATS AS WELL
The Deputy Chief minister has
invited the Korean Government to
facilitate investment in smart
Prime Minister Narendra Modi and Punjab Industry
Minister Madan Mohan Mittal in front of the Punjab
Pavilion at the International Trade Fair in Hanover.
cities that Punjab proposed to develop
on its own. The Government
has decided to take up a
8 Punjab Advance October 2015