Terming the Punjab as a land of opportunities equipped with conducive business environment, Housing & Urban Development and Information & Public Relations Minister Mr Aman Arora on Thursday said that Chief Minister S Bhagwant Mann led state government has been undertaking myriad efforts to further foster the investment ecosystem in the state and strengthen business ties with Japan.
Aman Arora, who was presiding over the "Japan- Partner Country" session on the first day of the 5th Progressive Punjab Investors' Summit-2023 organised at the Indian School of Business (ISB), Mohali, said that promoting Ease of Doing Business, creating a suitable employment opportunities, providing access to quality infrastructure and enable greater transparency in governance are the topmost priorities of the Punjab Government.
Pointing out the contribution of Punjab in National economic growth, he said that the state has just 1.5% of India’s land area but contributes 3% to India’s Gross Domestic Product (GDP). Punjab is emerging as a new global business destination, he said, adding that Punjab is also rightly known as the Food Bowl of India as it is the biggest contributor to central pool of food grains.
The state is one of the major growing economies in the country with strengths in Agri & Food processing, Textiles, Bicycle Manufacturing, Engineering, Auto Components, Machine tools, Pharmaceuticals, IT and Tourism.
Punjab has long-standing cultural and economic ties with Japan due to the complementarities between the two regions, said the cabinet minister, while adding that Punjab exports goods worth Rs 336 Crore to Japan, which is one of the focus countries for the Government of Punjab to promote Industrialisation and Trade & Commerce.
“Punjab is the safest place to do business,” he reiterated, while extending invitation to the delegates to Invest in the Best. With more than 100 Japanese business establishments in the state, Mr Arora said that Punjab based industry has already entered into many successful collaborations with Japanese enterprises manufacturing, technology tie-ups and market assistance, of which prominent companies include Aichi Steels— Steel Arm of Toyota, Yanmar, SML ISUZU, Toppan, Mitsui Co., Gunma Seiko and Koyo.
While giving the presentation on incentives and other services being provided to industries in Punjab, MD Milkfed Mr Amit Dhaka said that a power surplus state, Punjab is providing electricity duty exemption, besides, offering 100% exemption/reimbursement from Land Development Charges and Stamp Duty Charges.
Punjab also offers best-in-class logistics and connectivity with highest road density amongst Indian states, besides, it has two international and four domestic airports.Aiming to provide smooth facilitation for Japanese companies operating in the State, the Cabinet Minister said that the state government has set up a dedicated Japan Desk at Invest Punjab, which provides a single point of contact for all new and existing investors.
Punjab could also develop Japan specific Industrial Township within Punjab for Japanese investments which will ensure encumbrance free land with utilities such as water, electricity, seamless road connectivity and pre-approved clearances, he added.
Meanwhile, Minister and Deputy Chief of Mission Embassy of Japan Mr Kunihiko Kawazu expressed gratitude towards the Punjab Government for organising such a great event which will further strengthen the business ties between Punjab and Japan.
On the occasion, Mr Aman Arora felicitated Mr. Kawazu, Vice Chairman/MD Vardhman Special Steels Limited Mr Sachit Jain, GM Energy Division Mitsui & Co. India Pvt. Ltd. Mr Taishi Kawai, Director OJI India Packaging Pvt. Ltd. Mr Ryuichi Asai, MD SML Isuzu Ltd Mr Junya Yamanishi and Chief Director General JETRO India Mr Takashi Suzuki.