Punjab, Himachal, J&K line up to woo investors

CHANDIGARH: For the first time, three northern states — Punjab, Himachal Pradesh and J&K — will compete with each other to attract investment in their state through investment summits. The states want themselves to be considered among India’s most investment-friendly states through sector-specific policies.

Illustration: Sandeep Joshi

Vijay C Roy

Tribune News Service

Chandigarh, August 16

For the first time, three northern states — Punjab, Himachal Pradesh and J&K — will compete with each other to attract investment in their state through investment summits. The states want themselves to be considered among India’s most investment-friendly states through sector-specific policies. Jammu & Kashmir will hold an investment summit on October 12-14 while Himachal Pradesh will organise it on November 7-8. Punjab has also announced to hold the summit on December 5-6.

Himachal has already organised five national roadshows and three international events in Germany, the Netherlands and the UAE. The state claims it has received good response in sectors such as manufacturing, food processing, pharmaceutical and tourism.

As of now, 296 MoUs worth Rs 35,231 crore have been signed by the state government prior to global investors’ meet. “Through the Rising Himachal Global Investors Meet, we are looking to attract investment worth Rs 80,000-85,000 crore across all sectors,” said HP Chief Minister Jai Ram Thakur at an industry gathering here recently.

The state is seeking investments in tourism, infrastructure and logistics, pharmaceuticals, housing, IT/ITes and food processing through sector-specific policy.

As far as Punjab is concerned, Chief Minister Captain Amarinder Singh has said the summit, to be held in Mohali on December 5-6, would go a long way in ensuring holistic industrial development of the state to propel it into the orbit of high growth trajectory.

The Chief Minister would preside over pre-events, including Invest North event at Bangalore from August 29 to 30, Ambassador Connect Delhi on September 5 and India Economic Summit on October 3-4.

The state seeks investment in sectors of agro and food processing, IT and IT-eS, manufacturing, textile and garmenting, startups, healthcare and life sciences.

The opening ceremony of J&K Investor Summit-2019 will be held on October 12 in Srinagar, followed by sightseeing on October 13 and closing on October 14 in Jammu. The Summit will provide the state with an opportunity to showcase its strengths, strategies and potential, said a statement.

All the three state governments have engaged CII as a partner for the summit.

Investment Summits