Chinese Investors To Set Up Industrial Clusters In Punjab-Mittal
Author(s): City Air NewsA related photograph of the Punjab Industries Minister Mr.Madan Mohan Mittal with others. Chandigarh, September 2, 2015: The Punjab Industries Minister Mr.Madan Mohan Mittal today said that Chinese are all set to...
cityairnews
Sep 2, 2015 12:30
0
A related photograph of the Punjab Industries Minister Mr.Madan Mohan Mittal with others.
Chandigarh, September 2, 2015: The Punjab Industries Minister Mr.Madan Mohan Mittal today said that Chinese are all set to make big bang investment in Punjab and Punjab has accepted in principal their proposal to set up an Industrial Cluster in state as a joint venture.
Referring to his recent China seven days visit, Mr.Mittal said that he had visited main Chinese Cities namely Changsha, Schengen, Shanghai, Beijing, where he noticed complete Chinese admiration for India especially for Punjab and its investor friendly policies. He said that the main industries of Tele communication, food processing, Agriculture, Bio chemical plants,Electronics have offered to set up their units in Punjab.
The Minister also said that the Punjab government has already offered total support to Chinese investors and provided land bank as per their requirement. The new Industrial Policy of Punjab offers attractive opportunities to invest in the State. The package provides incentives of VAT & CST, Stamp Duty, Property Tax and Electricity Duty Exemptions, besides additional incentives for specific sectors such as food processing, textiles and information technology.
The Minister also said that the Chinese are keen to invest in India because they see a good prospective market in India. He further said that the investors can apply online to the government to set up any Industry in Punjab and if any discrepancy found it could be rectified instantaneously online.
He said that Chinese Investors Delegation would be the main attraction in Investors Summit and said that he expected a massive investment flow after his recent China visit. Mr. Mittal said that government to government interaction in Changsha was quite useful.
He further said that as a result of the progressive policies of the State government, 217 proposals with proposed investment of about Rs. 15000 crores have been received in the Bureau. The key proposals are from M/s Infosys, M/s Ultratech Cement, M/s T.I Tubes (Murugappa Group), M/s ITC, M/s Cargill India, M/s Amul, M/s Mahindra Agro, M/s Sonalika Tractors etc. Further, the Bureau under one roof has granted various stages of regulatory clearances to 96 of the said projects.
The Minister also said that with the setting up of Chinese Industrial units in Punjab, lakhs of youth would get employment because we have qualified technocrats in Punjab. Punjab would be developed as a Model state with such investments, said Mr. Mittal
Prominent amongst others who were present on the occasion included, Additional Chief Secretary Investment Promotion Punjab, Mr. Karan Avtar Singh, Director cum Secretary Industries, Mr. S.R.Ladhar and Mr. Amit Dhaka, MD, PSIEC.
Date:
Wednesday, September 2, 2015
