Industrial projects: The new industrial policy and other ease-of-doing-business initiatives of the state government have started showing results. Punjab bagged a total of 507 industrial projects from January to March 2023. Out of this, 318 projects are in the manufacturing sector, 139 in services sector and 50 in the real estate sector.
Minister for investment promotion Anmol Gagan Maan said the robust growth in investments reflects the state’s strong potential and attractiveness for businesses seeking to expand their manufacturing operations.
Favourite destination for investors
She said Punjab’s strategic location, skilled workforce, and investor-friendly policies, has made it a favourite destination for domestic and international investors.
The minister said this reflects state’s strong potential for businesses. The process for granting regulatory clearances through the single window system – Invest Punjab Business First Portal – is attracting investors.
She said, “Punjab’s manufacturing sector has witnessed exceptional growth at the start of this calendar year, reflecting Punjab Government’s commitment to creating a business-friendly environment. We will continue to extend support to investors and foster a thriving ecosystem that promotes innovation, employment, and sustainable development with Invest Punjab playing a leading role.”
The state has attracted significant investments across various sectors including automotive, food processing, pharmaceuticals, and renewable energy.
Investments in diverse sectors
The investments have been primarily in Agri and Food Processing (Rs. 720 crore), NRSE Power Projects (Rs. 400 crore), Pharmaceuticals (Rs. 300 crore), and Auto & Auto Components (Rs. 160 crore).
Majore companies investing in Punjab include APIMJA Pharmaceutical, Star Foods, Khanna Paper Mills, Mindrug Biologics, Raghuvanshi Agro Chemicals and Bio Fuel, Thind Green Energy, Adler Wood, Aldicious Frozen, Jai Parvati Forge, Forge Mach Auto. This surge in investments demonstrates the growing confidence of businesses in the state’s business ecosystem, said the minister.
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