Having strong ecosystem, business friendly policies andexcellent factors of production, Punjab has become a preferred investmentdestination for the global firms in last few years.
In the lastfour-and-a-half years, investors from across the globe as well as those fromdifferent regions in the country have shown their confidence in Punjab, whichhas resulted into securing investments worth Rs 99000 crores in varioussectors.
The sectorsinclude Bicycle, Agri & Food Processing, Logistics, Pharmaceuticals,Chemicals, Textiles, Alloy and Steel Sector, Engineering, Auto Components, Newand Renewable Sources of Energy, IT Services, Education, Real Estate andInfrastructure.
These investmentsare coming into the State from companies from diverse countries including USA,UK, UAE, Denmark, Germany, France, Spain, Italy, Japan, South Korea, NewZealand and Singapore, said Gurkirat Singh, Minister of Industries andCommerce, Punjab, adding that Punjab is scripting an unmatched success story.
He saidthat Punjab has not only witnessed global firms investing in the state for thefirst time but also the existing players have expressed their satisfaction andenthusiasm by expanding their presence and operations in the State. “Theinvestors’ confidence in the growth story of Punjab, even in the times of theCOVID-19 crisis, is a testimony to the State’s strong infrastructural andpolicy framework,” said Gurkirat Singh.
“We havealways got required support from the Punjab Government, which makes this statea nice place to live and work. Punjab is a state of young people, there is agood opportunity for auto-companies to setup their units in Punjab,” saidEiichi Seto, Director SML ISUZU Ltd. He also said that they have never facedlabour shortage in the state.
Pertinently,the State Government has made consistent efforts in the last 4.5 years, todevelop an ecosystem where both the domestic and global businesses can thrivecompetitively. It is encouraging to see it bearing results with globalinvestments pouring in from 10 foreign companies even in FY 2020-21.
Majorinvestments from companies headquartered in North America includes SmarterE-learning Pvt Ltd (Software Development), PepsiCo India Holdings Pvt Ltd,Cargill India Pvt Ltd, Walmart India Pvt Ltd, Netsmartz Infotech Pvt Ltd andTeleperformance India, all with headquarters in USA. Companies headquartered in Europe includingCN IFFCO (Joint venture in food processing with Spanish firm Congelados deNavarra), Vadhera Apartments Pvt Ltd (UK based group), Hindustan Unilever Ltd,Centrient Pharmaceuticals India Pvt Ltd (HQ Netherlands), Verbio India Pvt Ltd(HQ Germany, BioCNG production), Hella India Lighting Ltd (HQ Germany, LightingSolutions for Automotive), with first-time investments by Air Liquide (HQFrance; Manufacturing Industrial Gases), Graepel Perforations India Pvt. Ltd.(HQ Germany), Hartmann Packaging Group (HQ Denmark; Moulded Fibre Packaging)and Ognibene Group (HQ Italy; Manufacturing Hydraulic Actuator) have alsoinvested in the State.
Duringthis period, Foreign companies from East & Southeast Asian countries havealso made investments in joint ventures as well as independent investments inPunjab including Think Gas Pvt. Ltd. (HQ Singapore, Petrochemicals), AdaniWilmar Limited (JV with Singapore-based Wilmar Intl. Ltd.), InternationalTractors Limited and Yanmar (HQ Japan), Vardhman Special Steels and AICHI Steel(HQ Japan), Meritech Software Pvt. Ltd. (HQ Japan) and Sunjin India Feeds (HQSouth Korea). Blal Steel Shredding Pvt. Ltd. from New Zealand and Australiabased firm Avaso Tech Pvt Ltd are also investing in the State, adding to theinvestments from around the globe in Punjab.