TATA Group promises massive investment in Punjab

Chandigarh, July 18, 2013: Punjab is all set to achieve a major breakthrough in Industrialisation, Urban Development, Power infrastructure development with nine leading companies of TATA Group promising to make massive investment in the state after working out the ‘details and economics’ of various projects short listed after marathon discussions with Punjab Deputy Chief Minister Sukhbir Singh Badal.

TATA Group Companies represented by Ravikant, Vice Chairman TATA Motors, Anil Sardana, MD TATA Power, Ashish Mathur, MD JUSCO, Madhu Kanan, Head (Business Development) Tata Sons, Sanjay Ubale, MD TRIL, Suma Venkatesh, Head Business Development IHCL, Shashi Kumar, Head (Business Development) Tata Housing, Rahul Shah, Head (Business Development) TATA Power, Tanmoy Chakraborty, Head (Business Development) TCS, D.K. Sunder, Head Fertilisers Marketing TATA Chemicals, Vemon Noronha, Head Government Sales TML and Govinder Singh CFO TATA Housing today had a detailed discussion with Punjab Deputy Chief Minister Sukhbir Singh Badal, Industry and Commerce Minister Anil Joshi, Revenue Minister Bikram Singh Majithia and Finance Minister Parminder Singh Dhindsa.

The discussion followed detailed deliberations in five sub groups, where individual companies shared their notes with Principal Secretaries of concerned departments. The marathon meetings of sub groups that started at 10 am in the Punjab Civil Secretariat lasted up to 2 pm. These group meetings were followed by an impressive presentation by Deputy CM Sukhbir Singh Badal.  

Ravikant, Vice Chairman TATA Motors while initiating the discussion said that it is for the first time that all TATA Group companies have collectively come to a State to have discussion with a state government in contrast to earlier practice of individual companies having deliberations with states. He said that this was possible because new chairman of TATA Group Cyrus Mistry was impressed with the Statesmanship and mature leadership qualities of Punjab Chief Minister Parkash Singh Badal and also shared the vision of Sukhbir Singh Badal of holistic and futuristic development rather than handling ‘nuts and bolts’. He said that the group was impressed by the futuristic visualisation of Sukhbir Singh Badal and after the impressive presentation of Deputy CM, “we seemed to be on same wavelength.”

Inviting TATA group to become partner in the progress of the state, Sukhbir Singh Badal said that Punjab has come out with a one of its own kind of industrial policy, which offers incentives to the investors as per their efficiency and productivity. He said that the new VAT and CST retention model, one of its own kinds, in the country would allow the upcoming companies to retain up to 80% VAT and CST collected by them rather than to look towards government for reimbursement. Mr. Badal inviting TATA Group companies for infrastructure development projects called them to invest in holistic development of one or two cities to be mutually worked out for ensuring 100% water, sewerage connectivity, power distribution, road development, solid waste management, street lighting with 24X7 help desks. Badal said that he has chalked out a multi thousand crores plan to be completed in next two years for holistic development of 147 cities that offered mega investment opportunities for TATA group stakeholders. He said that TATA motors can also work out a BRTS system for metro cities of Ludhiana, Jalandhar, Amritsar and Bathinda besides helping the state in the Solar City Project.

Inviting the TATA Group companies to invest in power transmission and power audit sector, Badal said that Punjab would be the first state to be Power surplus by December this year and with quality infrastructure, best air and road connectivity Punjab would be the best bet for TATA’s for making future investments. He said that after becoming Power surplus, state was focusing on strengthening power transmission network besides power audit and sought their investment in this sector. The TATA group companies also evinced their great interest in City Level Services, BRTS Projects, Ropar-Phagwara Expressway, Water City Ludhiana and other infrastructure projects of Rs. 500 crore and above IT Campus with high rise concept at Mohali, Solar City Complex, Roof Top Solar Projects, Power Projects, Housing Projects, Downtown at Mohali and Ludhiana  renewable energy sector including Biomass and Mini hydels.

Ashish Mathur, MD JUSCO said that their company after successful implementation of City Services Project in Mysore and Kolkata, could work out modalities for two three big cities of Punjab after detailed study of these cities. He said that TATA with great experience in BRTS system could present a model to tackle the traffic problems of Ludhiana and other big cities. Badal asked TATA to study BRTS model of Istanbul and replicate the same in Ludhiana.

Seeking the cooperation of TCS in making Punjab offices paperless, Badal said that after making Punjab Secretariat paperless by December this year, they should draw up a project for whole state. The TATA Group Companies evinced great interest to set up TATA Skill University in the state besides investing eco-city and medi-city in new Chandigarh. They also evinced great interests in ambitious projects like ‘Downtown Mohali’ and ‘Downtown Ludhiana’ and city center Mohali. The TATA Group also expressed their desire to setup series of budget hotels in different cities of Punjab besides making a major foray in group housing sector.

Appreciating the vision of Deputy Chief Minister, the group leader Ravikant said that, “we have plate full of projects and now it is our responsibility to work out details and economics of each project to put these projects in implementation mode.” He said that we will get back to Punjab Government after finalizing the details within one month. Impressed by futuristic vision of Deputy CM, Anil Sardana, MD TATA Power commented that, “you have put us on back foot by your aggressive and time bound approach to achieve the results.”  Ravikant said that we have made tangible progress today and this could be possible because our thinking was in confluence. Offering them single point access, Punjab Deputy CM Sukhbir Singh Badal appointed Karan Avtar Singh, Principal Secretary Industries and Commerce, as Nodal Officer for any project of TATA Group and he would ensure escort service to the TATA Group officials in the state.