Projects worth Rs1.2 lakh cr underway in Punjab: Assocham

Chandigarh, May 22

As many as 248 projects, involving an investment of Rs 1.20 lakh crore, are under implementation in Punjab, with considerable cut in time taken for project completion, according to industry body Assocham.

Most of the projects are in the services sector (other than financial) that constitute 45.1% of outstanding investment in 2017-18, followed by construction and real estate with 26.1% and manufacturing with 20.9%, said the study titled ‘Analysis of Punjab: Economy, Infrastructure and Investment,’ conducted by the industry body.

“Investment plays a vital role in strong economic growth and benefits of investments could be transferred to the people. The state, under the leadership of Chief Minister Capt Amarinder Singh, is recording robust improvement in new investment," said Assocham secretary general DS Rawat.

He said the state was also witnessing considerable improvement in the time taken for implementation of the projects.