By Martin Shwenk Leade

Copyright indiatimes

Punjab has secured investments worth Rs 1.25 lakh crore since the Aam Aadmi Party (AAP) took office and will create employment opportunities for 4,50,000 people, Punjab Industries and Commerce Minister Sanjeev Arora announced at a press conference alongside Punjab Development Council Vice Chairperson Seema Bansal. Arora also outlined plans to transform Punjab into India’s “next major industrial destination.”The centrepiece of Punjab’s industrial push is the newly passed Right to Business Act, which promises to slash approval times dramatically. Industries in the green category of environment clearances and several forestry category projects will receive permissions within 5-18 days, depending on location.”If industries are located in approved industrial parks or real estate projects, they get all permissions within five days. Outside these projects, it takes 15 days, and for special projects, 18 days,” Arora said. For comparison, Punjab’s existing system already ensures all approvals within 45 days, with any delay automatically triggering “deemed approval”.Major corporate commitments driving growthIT giant Infosys recently committed to establishing a facility in Mohali that will employ 4,500 people in high-paying technology roles, Arora said. In healthcare, Fortis has announced a Rs 950 crore expansion of its Mohali hospital operations.Steel sector investments come from Vandana Steel and Happy Forges. “We are making Mohali a destination for artificial intelligence and data c,” Arora said, highlighting the region’s concentration of technical talent. Within a 100-kilometre radius of Mohali, the state houses premier institutions including IIT Ropar, IIT Chandigarh, Chandigarh University, Chitkara University, PEC Chandigarh, and Thapar Institute of Engineering and Technology. Live EventsComprehensive industrial policy in the worksThe Punjab state government has established 24 industry-specific committees covering sectors from steel and heavy industry to textiles, IT, semiconductors, hospitality, and healthcare. Each 12-member committee represents different aspects of their respective sectors, with textile alone divided into spinning and weaving, garment manufacturing, and dyeing and finishing.”We ensure every committee meets at least once a fortnight. Within two months, we got all reports prepared,” Arora said. The state already hosts investments from 10 countries and is developing comprehensive support infrastructure. A private industrial park policy will incentivise both new industries and existing ones to consolidate into designated industrial zones for better operational efficiency.Infrastructure and land availabilityPunjab is addressing two critical industrial needs: land and power, as per Arora. “The state is consolidating land parcels from various government departments, including rural development and industrial development authorities, to create a ready inventory for incoming industries.A major industrial park project spanning 1,400 acres is being developed in Rajpura in partnership with the Centre, with land allocation promised within 14 days of application.”Add as a Reliable and Trusted News Source Add Now!
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