CHANDIGAR: “Ease of Doing Business in Punjab”, this is the sector in which the State has established itself as a model to be emulated by other States. The state has set an example of time-limited approvals for industrial projects and offers a pro-industry culture of technology-driven innovation and enterprise. Not only that, the top-notch infrastructure and excellent connectivity add to the strength of the state. And it’s so
easy to start your business in Punjab with the help of Invest Punjab – one stop shop for all approvals and permissions”.
Mr. Kamal Kishor Yadav, IAS, CEO of Invest Punjab, while inviting industry and investors to the state, pointed out that the state government is focusing on strengthening businesses and improving the government transparency.
“Recognizing that trust is the foundation on which the legitimacy of public institutions rests and on which the success of public policies depends, Punjab is constantly striving to strengthen cooperation between industry and public institutions, the result of which is clear in our reforms. We offer a completely online and transparent system to the industry for the granting of authorizations and incentives.
Invest Punjab (Punjab Bureau of Investment Promotion) is unique with its “unified regulator” model. No fewer than 23 officers from different state departments work under the Bureau. This unique model has been recognized as a “Top Performer” by the Government of India among 20 state investment promotion agencies with a score of 100% on all 8 pillars.
The Invest Punjab model is also being extended to the district level where the District Bureau of Industry and Investment Promotion (DBIIP) is being established. The state has also enacted the Punjab Business Law Act 2020. Under this law, any MSME can set up a business in the state based on a self-certification valid for a period of 3.5 years. The provision of deemed authorization has been enacted under the PBIP (Amendment) Act 2021, in which automatic online authorizations will be issued upon expiry of the stipulated period, based on self-certification by the industrial unit. In addition to the protocol for deemed clearances, a system of “automatic renewal” of clearances has also been introduced based on self-certification, the CEO said.
Some of the key projects that have started commercial production in recent times include PepsiCo (Sangrur), Coca Cola (Ludhiana Beverages) in Ludhiana, Varun Beverages a contract manufacturer for PepsiCo (Pathankot), IOL Chemicals (Barnala), Cargill (Bathinda) , Vardhman Specialty Steel (Ludhiana), Ralson (Ludhiana), Aarti International (Ludhiana), Century Plywood (Hoshiarpur), Happy Forgings (Ludhiana), Hero E-Cycles (Ludhiana), Preet Tractors (Patiala), Hartex Rubber (Ludhiana) , Ganga Acrowools (Ludhiana), Hindustan Unilever (Patiala). Units like Swaraj Mahindra, Hella Lighting, Air Liquide, Amity University, Think Gas, Verbio, HMEL and many more are in various stages of construction and machine installation. The state has also recently received significant investments from renowned brands such as Aditya Birla (Grasim) and JK Papers, the CEO added.