Punjab News: The state of Punjab is witnessing the positive outcomes of the decisions taken by the Punjab government. Over the past years, the state has attracted investments totaling INR 64,000 Crores, with approximately 4,000 industrial units being established. Key areas such as Mohali, Ludhiana, Amritsar, Fatehgarh Sahib, and Patiala are witnessing significant industrial development.
According to data released by Invest Punjab, the state’s investment promotion agency, a considerable effort has been made to facilitate the success of industries at a larger scale. Major national and international companies, including Tata Steel, have committed investments, with Tata Steel alone investing INR 2,600 Crores in Ludhiana. The steel plant has received all necessary permissions, and its operational phase is expected to be completed by 2025, providing direct employment to 500 individuals.
Invest Punjab Propels Industrial Growth with INR 56,963 Crore Investment Proposals
In line with the Punjab Industrial and Business Development Policy 2022, the state is focusing on attracting global players. The recent investment commitment of INR 5,000 Crores by the Global Venue Chain in the next five years exemplifies the success of these efforts. The policy aims to enhance employment opportunities for youth by expanding skill development initiatives.
The state is actively promoting the development of industrial parks, and 15 industrial parks are being developed to boost industrial growth. Additionally, the policy encourages the establishment of micro-units across various sectors with incentives such as stable electricity supply at concessional rates for five years.
Invest Punjab’s role in fostering industrial growth in the state is evident, and the strategic policies are attracting substantial investments, positioning Punjab as a thriving industrial hub.
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