Open House: What should the government do to make Punjab the most attractive investment destination?

Deal with security concerns first

Before taking any steps to improve the economy of the state, the security concerns must be dealt with in a stern and decisive manner. The Khalistan sentiment, which has recently received a fresh lease of life with the Ajnala incident, must be handled strongly. The security concerns of the existing industries must be addressed to attract more investment in the state. There must be a proper implementation of Central and state policies in the banking sector. The processes for approvals of loans, renewals and project clearances must be simplified to save time and energy of any interested player. The existing industries must be extended full support for revival. The policy for diversification in agricultural produce of the state must be enforced immediately.

Inder Sekhri

Focus more on local industries

The handcrafted goods made out of wood and iron were the results of skilful work done by the Ramgarhia community in the older times. With the advent of industrialisation in the country, these people gradually started using their skills for the manufacture of all sorts of machinery. In our city, the establishments of paper printing, cutting and allied machinery manufacturing units running on a large scale is the result of their skilful hands. At one time, our local manufacturers used to meet 70 per cent of the demand for this type of machinery in the country. Similarly, all machinery used in weaving and processing units of textiles were manufactured locally by the Ramgarhia community. They were also pioneers in developing textile machines like hollow-cop machine, milling machine, raising machine, rotary press, etc., for the first time in the country. However, after liberalisation, when a new era of automation started, no efforts were made by the government to acquaint the members of this community with the latest trends abroad. This example gives us the lesson that instead of asking industrialists from other states to come to Punjab and invest, the state government should extend a helping hand to the local industrialists in the form of incentives like interest-free loans, establishing research and development centres for different industries, etc.

Naresh Johar

Urge Centre to declare state tax-free zone

The state government recently held the 5th Progressive Punjab Investors’ Summit, which has been sadly reduced to nothing but an annual ritual performed by every government in power in the state by spending a huge amount of money on its publicity but without any fruitful results. Similar gimmicks played by the party in power is to visit states like Gujarat and Maharashtra with high-powered delegations headed by the Chief Minister, followed by fabulous media reports, again without any favourable response. Similar is the exercise to consult pioneers of various types of industries and getting their views for the forthcoming Budget to promote businesses in the state. But they too fall flat every year. Instead of wasting time, energy and money on these exercises, the state government should prevail upon the Centre to declare the whole state a tax-free zone for the coming 15 years so as to promote industry in the border state. Even if border districts of the state are declared tax-free zone, a new era of industrialisation in the state can begin.

Nityanshi Chopra

Improve infra to attract investors

The Progressive Punjab Investors’ Summit is a great step for making the state a favourable destination for investment across the country and no stone has been left unturned to facilitate the investors. The participation in the event shows that our state has a peaceful atmosphere and the right environment for investors to set up their units here. In order to enhance the dividends, the state government can take various similar steps. First, the infrastructure should be improved in the state. Technology should also be modified, modernised and updated. Availability of raw material is very necessary to set up any business, so that should also be ensured.

Jasleen Kaur

Promote traditional products of state

The Central Government had declared two schemes in the past to boost rural and urban economies of the country. In the first scheme, one horticulture produce was promoted from each district of the country. Pear was the chosen produce from Amritsar. In the second scheme, called ‘One Product One Railway Station’, one industrial product was to be promoted at each railway station of the country. However, both these schemes failed in their objectives due to a lack of coordination between the Centre and the state governments, the local industrialists and bureaucrats. The state government should promote one or more traditional products of each district on similar lines. Textiles, rice, paints, Wadia papad, electric fans, etc., are some famous products of Amritsar and steps should be taken for their promotion.

Harsh Johar

investors’ Summit a welcome step

Organising the Progressive Punjab Investor Summit is a welcome step as it provides opportunities to the youth to get engaged in any field of their expertise. Besides, the government must work on providing them training for skills in different sectors. Even though the New Education Policy 2020 defines lot of revamps towards skill enhancement, still, awareness campaigns about new initiatives are the need of the hour if we want to make the public aware. The mindset towards skill development is a challenge in front of the traditional system of education.

Dr Kanchan Garg

Prioritise economic progress

To make our state really progressive, we do not need investment summits. What we need is a new mindset. Political parties should shun region and religious-based politics and encourage out-of-the-box ideas for our state instead. In the year 2016, the Central Government had floated a Startup India Scheme and offered a lot of incentives for new entrepreneurs. Under the RTI Act, I was informed that from 2016-17 to 2020-21, a total of 46,042 new units were started under this scheme across India, out of which only 408 such units were in Punjab, which is less than one per cent of the total new startups. Surprisingly, the share of the most important city of the state — Amritsar — was only 21 units. We don’t need any investment from outside, we simply need an environment where economic progress should be the main agenda of the political class.

Namish Johar

Encourage investment in Punjab

In order to make Punjab the most attractive state for investment in the country, the state government should make land easily available for setting up new industries. Economic factors like cheap availability of labour and a reduced cost of production should also be implemented. The state government should offer huge incentives to investors so that there is a boom in investments in Punjab. Infrastructure and loan facilities should be increased and cheap rates for loans should be offered.

Sanjay Chawla

Govt should be practical in its approach

The first priority of the government should be to ramp up the farm sector. Foolproof arrangements should be provided to farmers for exporting their produce to other countries. Once that is done, food processing industry will automatically come to Punjab. Secondly, industries that are based on agricultural sector should be encouraged to set up their business in the state. For the improvement of tourism, trade and transport a proper infrastructure should be created for the safety of tourists and traders. Law and order must be maintained. The police should be given a free hand to maintain it and discharging its duty. No political interference, pressure or fear should be put on it. Only then proper law and order could be established and crime would be reduced. The perpetrators of heinous, crime, murder, kidnapping, extortion, sabotage, and anti-social, anti-national activities are connected with mafias and cartels running illegal trade and smuggling, causing huge loss to the state’s exchequer, should be arrested and put behind bars. The government should be more practical and avoid wasting time in chasing shadows.

SS CHAHAL

Consult old businessmen

Businessmen and industrialists in Punjab are showing enthusiasm to do business in Uttar Pradesh. It is a matter of great concern that they are closing their business in the state and moving to other parts of the country. The state government should encourage the traders and industrialists to invest in the state. The confidence of businessmen and capitalists in Punjab will be built if the state government restores law and order, cracks down on gangsters and controls the rampant drug abuse. Apart from this, the government should stop bribery and red-tapism. The Punjab Government should also consult with the old traders and industrialists to make the state conducive for business.

Sucha Sagar

Make maintenance of law & order priority

The government has to make a lot of efforts to attract investors in Punjab. It has to give an assurance to the investors that their investments will be safe in the state. Certain issues such as maintaining law and order and ensuring that protestors should not block road and rail traffic need to be addressed. No investor would take the risk of investing in a state, which is unable to maintain law and order. In Punjab it has become a new normal that a few people gather and block road and rail traffic, inconveniencing others. The Ajnala incident is the latest event where the police failed to control the situation. The incident has come as an embarrassment for the ruling party. In such an uncertain atmosphere, no investor will take the risk of investing in the state.

Lt Col GS Bhullar (rtd)

Previous summits failed to yield result

Several investors’ summits were organised by previous governments too. However, none contributed to progress and prosperity of Punjab. Even this time as well, nothing positive is going to come out of it as militancy is raising its head again in the state. Sidhu Moosewala’s murder and the killing of several known personalities show gangsters are having a free run. Even malevolent elements from foreign countries are threatening rich businessmen and industrialists. The government should use an iron hand to eliminate such rogue elements from Punjab and other states and also from foreign soil, if possible. The breakdown of law and order in Ajnala recently should wake up the government to control such radical elements. When many Sikh intellectuals raised questions, the Jathedar appointed a committee to probe the event and reply within a week. Let us hope that things get normal and not swing Punjab into previous dark days again. The present government would do something really strong to stop all communalism, terrorism and looters.

Dr JS Wadhwa

adopt new approach to attract businesses

Chief Minister Bhagwant Mann recently had a detailed conversation with the representatives of big corporate houses like Godrej, Hindustan Unilever, Mafatlal, Mahindra & Mahindra, Jindal Steels, etc., to make Punjab the most attractive investment destination. It’s a good move to woo the industry, which has shifted its base to neighbouring states as they offer business-friendly policies, subsidised power and several other incentives to operate. The state needs to focus on creating an industry-friendly atmosphere. The step-motherly treatment, corruption, lack of infrastructure, law and order situation are some of the major concerns of the industry. Nobody would risk one’s life and hard money in a disturbed state. The open threat by hardliners that outsiders be denied the right to buy land in Punjab has hampered the industrial development as many businessmen are not getting the confidence to run their establishments. The Chief Minister has also issued notices to replace the signboards in Punjabi. When we want to promote big houses to promote their units in Punjab, we should shed our narrow-minded approach and be broadminded. Punjab has the potential and cash crops to prepare ground for businesses.

Shashi Kiran

Give incentives in form of subsidies, tax sops

Ever since the Aam Aadmi Party came to power in Punjab, it has been working tirelessly towards creating a thriving business environment for industries and service sectors. During the 5th Progressive Punjab Investors Summit in Mohali on February 23-24, the government showcased its overall vision for development, key regional projects and opportunities for investments through exhibitions on a number of sectors like healthcare, textiles, information technology, renewable energy, tourism and so on. The whole idea of the summit aimed at extending an excellent forum to prospective investors through business networking, knowledge sharing and exploring strategic partnerships. However, due to its strategic location, the state has suffered from cross-border terrorism as well as gangsters engaged in illicit drug trade and other criminal activities. Consequently, the state is currently lagging behind in inducing fresh investments. It is in dire need of durable peace for development, nipping unscrupulous elements indulging in nefarious activities to revive its glorious past. It is essential to have a close coordination between the Centre and the state for economic stability in the region. Long-term measures to win over the investors’ confidence, investor-friendly environment ensuring safety and security of personnel and property are paramount. Earnest efforts have to be put in to arrange land pool to meet the growing requirements of the industry at reasonable rates for expansion and setting up new establishments. Short-term steps like incentives, cash subsidies and tax sops should be offered to have an edge over competitors for attracting investments in the state. Due diligence and through perusal must be done expeditiously while granting approval for new projects to avoid complications at a later stage. When substantial proposals came through during the summit, it was perceived to have a comprehensive industrial policy for the state, with emphasis on agri-based processing units for value addition to local produce. Simultaneously, retention and expansion of the existing establishments must be ensured by all means.

Nirmaljit Singh Chatrath

Corruption, red tape, brain drain a bane

Punjab has the potential to become a hub of industrial activities and investments. The easy availability of land, labour, capital, entrepreneurial spirit, market, transport, communication and other perquisites make it a case for investment. However, if only the impediments in the form of corruption, red tape, lack of technical training, brain drain, it can truly become an attractive investment destination. The areas where the state government can think of attracting investment are phulkari, sports goods, rice, wheat, mustard, sugarcane, potatoes and other food crops, textiles, dairy products, religious nd historical locales and hospitality industry among others. Opportunities and capabilities of setting up of all three kinds of industries— primary, secondary and tertiary — need to be capitalised upon. The government must extend incentives and industrialists should show the zeal and alacrity to make Punjab a prosperous and illustrious destination again!

Anshika Kohli

frame pragmatic policies

The state needs heavy and large-scale industries to hop the juggernaut of fast-track growth. Stable law and order, incentives on production, cheap loans and no red tape will encourage installation of large industrial units. Consequently, small units will also flourish and the growing ecosystem will create more job opportunities for the youth. For this to happen, the state government has to forgo freebies so that the state exchequer goes in green from red. The law and order has always been a major issue. If criminals have a free run, big Industrialists hesitate to set up units in that state. The Punjab Government should primarily focus on food processing units simply because of the availability of agriculture produce in abundance and on those industrial units for which raw material is easily available. Afer the successful conduct of the investors’ summit, the government now needs to get its act together to woo the industrialists for big investments.

Rajat Kumar Mohindru

QUESTION

The AAP government recently presented its first full Budget with an outlay of Rs 1,96,462 crore for

2023-24, an increase of 26 per cent over the previous year. The main highlights of the Budget were no new taxes and an increased spending on agriculture, education and health sectors. How do you view the Budget proposals?

Suggestions in not more than 200 words can be sent to amritsardesk@tribunemail.com by Thursday (March 16).