PunjabChief Minister Captain Amarinder Singh has extended his government’s fullsupport to German Ambassador to India, Walter J. Lindner, who evinced keeninterest in investing in the key sectors of Mobility, Engineering,Pharmaceuticals, Chemicals and Renewable Energy in the state.
Theenvoy, who called on the Chief Minister late on Monday evening, discussedmutual strategies to explore new trade and investment opportunities in thestate.
Duringthe meeting, the Chief Minister underscored the major reforms undertaken by theState Government to boost ease of investment and business. These include InvestPunjab as a one-stop shop for all the regulatory clearances to set up businessventures in the State, apart from Punjab Anti-Red Tape Act 2021 and Punjab Rightto Business Act 2020.
CaptainAmarinder Singh also invited more German companies to come and experience theinvestor-friendly ecosystem in the State, which is already home to multipleGerman investments, including Metro Cash and Carry, Hella, CLAAS andVibracoustics.
PunjabPrincipal Secretary, Investment Promotion, Alok Shekhar apprised the Germanenvoy that Invest Punjab held an aftercare session in June, 2021 for Germancompanies operating in Punjab to ensure continued business success for them. TheState Government is proactively involved with German investment agencies, suchas Invest in Bavaria and the Indian Embassy at Berlin, especially for theirMake in India Mittlestand (MIIM) initiative. Besides, Punjab Governmentdelegations also attended the German India Business Forum, he pointed out.
CEOInvest Punjab, Rajat Aggarwal, said that the German companies have madeinvestments in the State across various sectors such as auto components,manufacturing and renewable energy. Of these, Verbio is setting up a ~80,000m3/day paddy straw based Bio-CNG project at various locations and Graepel’sPunjab unit (only unit in Asia) manufactures perforated metal sheets andventilation grids for agri & construction machinery.
Another companyVibracoustics, as the sole supplier of automotive NVH (noise, vibration &harshness) solutions for BMW and Ford, is currently in the process of expansionand consolidation of operations in Punjab by setting up a state-of-the-art autocomponent-manufacturing unit.