Punjab received Rs.88,000-cr investment under CM Mann’s leadership: Sond

Punjab’s Industry and Commerce Minister, Tarunpreet Singh Sond, has revealed that the state has attracted investments totaling Rs. 88,014 crore since March 2022, under the leadership of Chief Minister Bhagwant Singh Mann.

Sond also extended an open invitation to both national and international industrialists to invest in Punjab, emphasizing that the state’s industry-friendly policies have drawn global investors.

Since March 2022, Punjab has received 5,574 investment proposals, with an expected investment of approximately Rs. 88,014 crore, which is expected to generate around 4,01,217 jobs. Key projects that have been secured during the current government regime include investments from Tata Steel Limited (Rs. 2600 Cr.), Sanathan Polycot Pvt. Ltd. (Rs. 1600 Cr.), Ambuja Cements Limited (Rs. 1400 Cr.), Ruchira Papers Ltd (Rs. 1137 Cr.), Toppan Specialty Films Ltd. (Rs. 787 Cr.), Nestle India Ltd. (Rs. 583 Cr.), Happy Forgings Limited (Rs. 438 Cr.), Freudenberg Group (Rs. 339 Cr.), OaykayMetcorp Limited (Rs. 309 Cr.), and Cargill India Private Limited (Rs. 160 Cr.).

Sond encouraged other entrepreneurs to consider setting up industries in Punjab, assuring that the Mann-led government would offer full support. He emphasized that Punjab provides a conducive, peaceful, and suitable environment for investment.

The state government is committed to the growth and prosperity of industries, handling matters with seriousness and cordiality. The policies are designed to be industry-friendly, particularly benefiting small and medium enterprises, which can start their businesses with just an affidavit. The complete documentation process can be finalized within three years.

Sond also pointed out that Punjab’s “Invest Punjab” portal is the most efficient among 28 states, ranking first. A record-breaking 58,000 small and medium enterprises have already registered on the portal.