Punjab has secured an investment of Rs 70,000 cr so far: CM Bhagwant Mann | India News – Business Standard
Industry and commerce form the backbone of the economy of every state and therefore need to be given a significant boost, he added | File image
Punjab has secured investments worth Rs 70,000 crore so far and many major companies are keen to set up units in the state, Chief Minister Bhagwant Mann said on Saturday.
He was addressing a gathering at the ‘Sarkaar Vpaar Milni’ event organized to address issues faced by the trading community in the state.
The initiative aims to secure the well-being of the trading community and marks an important step towards restoring the state’s pristine glory and boosting its economic development, Mann said.
Industry and commerce form the backbone of the economy of every state and therefore need to be given a significant boost, he added.
Underlining the importance of generating income and employment in boosting the state’s development, Mann said he has visited major cities like Mumbai and Chennai to invite industrialists to set up ventures in Punjab.
So far, investments worth Rs 70,000 crore have already been ramped up, with prominent companies showing interest in investing in the state, Mann said.
The government is committed to protecting the interests of local industries, the CM said, referring to them as the true brand ambassadors of Punjab.
He assured that the state government will support these companies in expanding their operations within Punjab.
Mann emphasized his role as ‘custodian’ of the rights and interests of the Punjabis and ensured that every action he takes is for the welfare of all sections of the society.
He took aim at previous administrations, claiming that leaders amassed wealth at the expense of the state, and cited conflicts of interest that led to neglect of public welfare in sectors such as transportation, education and health care.
The CM called on traders to contribute to the progress and prosperity of the state and urged them to become partners in the “ongoing revolution” for the economic growth of Punjab.
Mann said the state government has purchased the Goindwal power plant from GVK Power for Rs 1,080 crore.
He hailed this as a reversal of past trends where the state-owned assets were sold at nominal prices, highlighting that Punjab has now acquired the power plant at a rate of Rs 2 crore per MW, significantly lower than comparable purchases in the past.
He also announced the establishment of an industry advisory committee, with members from various sectors and industries.
This committee aims to address the grievances of the industry and ensure smooth resolution of issues, he said.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)
First print: February 24, 2024 | 10:15 PM IST