Punjab woos industry at Gujarat summit

The industry back home may be facing difficulties, but that didn't deter the SAD-BJP-led government in Punjab from hard-selling the state as the investment destination at the Vibrant Gujarat Summit.

"The main intention of participating in the Vibrant Gujarat Global Summit was to explore business opportunities and project Punjab as favourite investment destination," a senior official of Punjab Industry Department said on Sunday. He was part of a Punjab delegation, which included officials from departments of industry, power, PUDA, Punjab Agro, that interacted with corporate honchos at the summit.

During the Punjab State Seminar at the event, officials also highlighted the SAD-BJP government's vision to turn the state into investment hotspot by taking industry friendly measures, including sufficient power, improved road infrastructure, air connectivity, land availability at reasonable rates.

The effort assumes significance as Punjab has not been on radar of big corporates and multi-national companies for investments, particularly in manufacturing and IT sector for some time, even as state attracted small investments in rice milling, hotels and other real estate projects.

Higher land prices had turned out to be a major stumbling block in attracting fresh investment in Punjab with companies showing reluctance in putting money in the state and this fact was even corroborated by a UNIDO report.

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