(MENAFN- KNN India)
Punjab, Sep 20 (KNN)
In a major push to position Punjab as an industrial powerhouse, the Bhagwant Singh Mann-led government has attracted a remarkable 5,265 investment proposals in the last 29 months, worth an estimated Rs 83,857 crore.
This wave of investment is projected to generate approximately 3,87,806 new job opportunities, offering a significant boost to employment in the state, especially for the youth.
The investments span a wide array of sectors, including Agriculture and food processing, manufacturing, automotive and auto components, chemicals, petrochemicals, textiles, apparel, and infrastructure.
Punjab's industrial appeal has drawn investors from global powerhouses such as Switzerland, the United States, Japan, and Germany, reinforcing the state's growing reputation as an attractive business destination.
Five districts in Punjab have emerged as the top beneficiaries of these investments. S.A.S. Nagar leads the pack, securing Rs 24,930 crore, followed by Ludhiana at Rs 18,860 crore.
Amritsar, Patiala, and Fatehgarh Sahib round out the top five with investments of Rs 5,805 crore, Rs 5,190 crore, and Rs 4,981 crore, respectively.
The investments have been allocated across key sectors, with the real estate, housing, and infrastructure sector receiving the largest share of Rs 30,651 crore.
accounts for Rs 7,811 crore, while the alloy steel and steel industries are set to gain Rs 6,567 crore. The textiles and apparel sector is marked for Rs 5,754 crore, and agriculture, food processing, and beverages have attracted Rs 7,721 crore.
Several major companies are making significant contributions to this industrial push. Tata Steel has committed Rs 2,600 crore to Ludhiana's secondary steel sector, while Sanatan Polycot is investing Rs 1,600 crore in Fatehgarh Sahib's man-made fibre industry.
Other notable investments include Ambuja Cements' Rs 1,400 crore in Hoshiarpur, Nestle India's Rs 583 crore in Moga, and Japan's Toppan committing Rs 548 crore to the packaging sector.
In a move to further ease industrial operations, the Punjab government introduced green-hued, colour-coded stamp papers aimed at simplifying the business setup process.
Entrepreneurs can now obtain clearances for essential permits, such as those related to pollution and fire safety, through the Invest Punjab portal, promoting ease of doing business in the state.
This surge in investment and regulatory reforms reflects the Punjab government's commitment to transforming the state into a leading industrial hub.
(KNN Bureau)
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