Bhagwant Mann Announces To Further Strengthen The Single Window System For Facilitating The Investors

New Delhi : Reiterating commitment of his government to transform the state into a major industrial and export hub by facilitating businesses and creating an investor-friendly environment, the Punjab Chief Minister Bhagwant Mann on Friday said that the state government is further strengthening the single window system for facilitating the investors.

Interacting with the delegates during fifth meeting of the Confederation of Indian Industry (CII) Northern Region Council here today, the Chief Minister said that earlier single window service was merely a sham, devoid of any meaningful purpose, which not only demoralized the potential investors but also hampered the industrial development of the state.

However, he said that his government is making all out efforts to ensure that investors get all the facilities at this window smoothly and without any sort of corrupt practices. Bhagwant Mann invited the captains of industry to invest in the state and become a part of industrial evolution and progress.

The Chief Minister lauded the efforts undertaken by the CII in supporting industry and creating a business conducive environment. He said that the Punjab Government is undertaking myriad efforts to foster an investment ecosystem in the state, create suitable employment opportunities for all, provide access to quality infrastructure, enable greater transparency and accountability in governance.

Bhagwant Mann said that Punjab is ranked third in Ease of Logistics in the country as the State has a strong logistics backbone with five Inland Container Depots (ICDs).Rolling out Red Carpet to the captains of Industry, the Chief Minister said that state offers one of the most competitive rates of power for all industries and is recognized as one of the top achievers in significantly improving its ease of doing business, in the latest Business Reforms Action Plan (BRAP) report of the Government of India.

He further said that Punjab has undertaken simplification and digitization of processes for compliances, decriminalization of minor offences and elimination of redundant laws and overlapping regulations.

Bhagwant Mann said that the state currently houses more than 1,000 skill development centres adding that Punjab Skill Development Mission (PSDM) has more than 250 empanelled training partners thereby creating an accessible network of training facilities to create a pool of trained manpower.

The Chief Minister said that Start Up Punjab promotes entrepreneurship by creating an investor-friendly environment conducive to Start-ups and a dedicated Innovation Mission Punjab has been set up to encourage entrepreneurship and innovation in the state.

He further said that the Government of Punjab will soon launch its new Industrial Development Policy in next few months which will lay down the roadmap for industrial policy of Punjab for next five years.

Bhagwant Mann said that the state government has received valuable suggestions from all stakeholders and efforts are being made to incorporate them into the New Industrial Policy 2022.

The Chief Minister said that recognizing the huge potential of Electric Vehicles (EVs) as a long-term sustainable solution, Punjab will soon be launching the EV Policy to promote electric vehicles and EV component manufacturing in the state.

He said that Punjab is committed to improving investor experience, building a business conducive environment and further simplifying compliances. Bhagwant Mann also invited all industry representatives to attend the Progressive Punjab Investors Summit slated to take place on February 23 and 24 next year.

Showcasing the achievements of the state in various fields, the Chief Minister said that Punjab is regarded as the Granary of India and ranks third in the total rice and wheat production in the country.

He said that it is a matter of great pride and satisfaction that Punjab is amongst the top 10 cotton producing states in India, accounting for 3.68% of India’s total production.

Bhagwant Mann said that the state is first in production of blended yarn and has the fourth largest spinning capacity in the country adding that Punjab is also first in production of Hosiery and second in the production of Sports Goods.

Asserting that Punjab’s Industry is globally competitive, the Chief Minister said that the state ranks number one in exports of Bicycles in India as more than 75% of bicycles in India and 92% bicycle parts are produced in Punjab.

He said that the state is number one in hand tools and machine tools production in India and accounts for 26% of export of hand tools & machine tools from India. Bhagwant Mann further said that the IT and electronics Industry in Punjab attracted investments worth Rs 770 crore, an increase of nearly 67 per cent over the previous year.

He said that MSMEs have always been the backbone of Punjab’s economy and today the state has more than 3.7 Lakh MSMEs.Earlier, Chief Executive Officer, Punjab Bureau of Investment Promotion, Kamal Kishor Yadav gave a presentation on investment opportunities in Punjab.

On the occasion Additional Chief Secretary to CM A.Venu Prasad, Principal Resident Commissioner Punjab Bhawan Rahul Bhandari, Principal Secretary Industries and Commerce Dilip Kumar, Special Principal Secretary to CM Ravi Bhagat and others were also present.

 

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