Chinese companies promise major investment in Punjab

 Neeraj Bagga

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Amritsar, March 12

Over 20 business leaders of China led by Chinese Ambassador to India Le Yucheng have promised to divert a major portion of the $20-billion investment from their country to India in Punjab in the next five years. 

Addressing a joint session of Chinese and Punjabi businessmen, organised by Confederation of International Chambers of Commerce and Industry (CICCI), Le said Punjab with its robust enterprising spirit and the Chinese companies in the field of agro and food processing, telecom, power and renewal energy, textiles, fisheries and light engineering were willing to bring in investment through direct financing and latest knowhow. 

Taking forward the “Make in India” initiative of Prime Minister Narendra Modi, the Chinese Ambassador asserted that China would make this dream possible by shifting some of the manufacturing here.

“A large number of Indian entrepreneurs want close business ties with China”. Coming close of approximately 2.5 billion people from China and India would mean a huge market and large human force. Globally, it would weigh heavily and carry a strong message. 

He said China was involved in expansion and reopening of old Silk Route. He said whether at road or sea India would be a strong partner.

He appreciated the proactive approach of the Punjab Government offering incentives for setting up new industrial ventures and expanding existing manufacturing units as initiated by Invest Punjab Bureau.

Earlier, additional CEO of Department of Investment of Promotions, Punjab, DK Tiwari said, Punjab has a high potential and growth opportunities and offers several sops for starting new high-tech industry. 

He assured the Chinese businessmen that all their projects would be cleared under single-window clearance system within 30 days from all the state departments. 

Head of China-India Business Investment Incubation Sanjay Sachdeva outlined the basic features of joint ventures and business proposals and offered all possible assistance to Indian companies, especially those based in Punjab.