Sukhbir Badal To Meet Top Promoters And CEOs For Two Days

Starting Tomorrow In Bangalore To Elicit Investment In Punjab

5 Dariya News

Bangalore/Chandigarh 29-Sep-2013

In a pioneering initiative, Punjab Deputy chief Minister Sukhbir Singh Badal is set to meet top business promoters and chief executive officers (CEOs) to showcase the investment opportunities available in Punjab in the information technology, bio technology, light engineering, infrastructure, agro and food processing and medical sectors during a two day visit starting tomorrow.The Deputy Chief Minister, who arrived in the city today evening, will start off his campaign to elicit investment in Punjab by visiting the Biocon Park at the Electronic City here tomorrow. He will be holding a one to one meeting with Dr Kiran Mazumdar Shaw.

While at the Electronic City, Mr Sukhbir Singh Badal will also visit the Infosys campus during the course of which he is expected to call upon its chief Narayana Murthy besides interacting with the senior management.Later during the day the Deputy Chief Minister will also visit the Whitefield area and meet the top management of Technicolor Limited. In the evening he will hold a one to one meeting with Mr BVN Rao of infrastructure giant GMR besides hospital giants Abhay Jain of Manipal and Mohan Pai of Pai hospitals. He will also host a dinner for top business honchos including those of Bosch and Accenture companies later in the evening.

On October1 besides meeting business heads on a one to one basis, the Deputy CM will also participate in an Investor Meet in which he will showcase the investment opportunities available in Punjab and also the incentives being given by the State government to attract new investment.Explaining the concept behind the investment exercise being undertaken by the State, the Deputy CM said he had made it the mandate of his government that Punjab would be the easiest State to do business in for new investors. He said besides this Punjab had its inherent advantages including the fact that it had the highest road density in the country, five operational and upcoming airports, sufficient power, thirteen container freight systems, 105 engineering and 150 polytechnic college and a 21 per cent higher income per capita than the Indian average.Mr Badal said the State government had also come out with an attractive package of incentives under which investors under various heads could retain VAT (Value Added Tax) and CST (Central Sales Tax), electricity duty exemption, stamp duty exemption and exemptions from payment of property tax.

Asserting that ease of doing business in Punjab was his first concern, Mr. Badal said Punjab was set to introduce online form submission with a centralized application besides online tracking by both applicant and the relevant department. He said the State would also introduce a single window clearance system for all applications besides instituting an investment facilitation cell and relationship managers for mega projects. The Deputy CM said all applications would be treated as deemed approvals in case they were not approved within two weeks adding applications could now also be self certified.