Punjab Beckons Investors: State Offers Conducive Environment and Industry-Friendly Policies

Chandigarh: Punjab’s Industry and Commerce Minister Tarunpreet Singh Sond has invited national and international entrepreneurs to invest in the state. In a statement issued here, he said the government led by Chief Minister Bhagwant Mann would extend full support to industrialists setting up businesses in Punjab.

Sond said the state offers a conducive, suitable, and peaceful environment for investment. The state government, he added, is working with sincerity and dedication for the growth and prosperity of industries. He said the state government’s policies are industry-friendly, allowing small and medium entrepreneurs to start their businesses with a simple affidavit, completing necessary documentation within three years. A similar facility for large industries is under consideration at the CM’s level.

The state’s ‘Invest Punjab’ portal ranks first among 28 states for its performance, with nearly 58,000 new small and medium industries registered, setting a record. Over the past two and a half years, investments exceeding Rs 86,000 crore have flowed into Punjab, and the state government is intensifying efforts to reach new milestones.

Regarding focal points in Punjab, Sond said 26 out of 52 located in various cities have been handed over to municipal corporations or committees. Work is underway to equip these focal points with world-class facilities, with plans to develop focal points in five cities as role models in the first phase.

The Industry Minister said work has begun on Punjab’s new IT (Information Technology) policy, which is set to be implemented by mid-next year. Under this policy, Mohali will emerge as the new IT hub of North India, creating approximately 55,000 job opportunities for IT professionals.

Sond said since assuming office as the Industry Minister, he has held meetings with numerous entrepreneurs, associations, industry chambers, and representatives of industrial groups. Suggestions and advice from these stakeholders will be considered while formulating new policies and plans. He expressed hope that with industry-friendly policies, Punjab’s industrial sector will soon grow exponentially and attract even more new investment into the state.