PHDCCI lauds govt move to attract investors

Tribune News Service

Amritsar, December 12

PHD Chamber of Commerce and Industry (PHDCCI) president Dr DK Aggarwal has lauded the policies of the Punjab Government to attract investors here. He was in the holy city to attend the inauguration of the 14th Punjab International Trade Expo (PITEX)-2019 on Thursday.

He lauded the recent land acquisition strategy of the state, according to which 25 per cent of the sale proceeds acquired after selling a plot of land would be given to the panchayat. The fund would be used for the development of the village by the gram panchayat.

“This is a great move. It will attract a number of investors to the state. The recent policy of giving 25% of the sale proceeds to gram panchayats will not only help in bringing investors but will lead to the development of the village concerned. The 25% of the sale proceeds will be negotiated and lands will be identified in a proper process. The vision will empower the rural belt and create employment opportunities for the youth. This policy has become a talking point for other states too. Easy availability of land for the industry is the main consideration when making an investment decision,” said Aggarwal.

He said the incentive was proving to be a boon as the government was in a position to acquire land with ease. “The Punjab Government’s single-window clearance system was very efficient and effective. As far as doing business with ease is concerned, Punjab ranks at the very highest in the country and its initiatives are being talked about in the country, the PHDCCI president said. With the implementation of such policies, Punjab has now become a hot investment destination,” he added.

He also talked about the growth of PITEX over the years and requirement of such platforms at the time of slowdown in the economy and their vision for 2019. The chamber was keen on promoting agriculture, small industry, business, farmers and industries.

“PITEX is being held at such a juncture in Punjab and that it was contributing in its own way in the development and growth of the state. At a time when the economy is in the doldrums, we are promoting small scale, medium scale industries.” He said.

“PITEX 2019 is bigger than from its past edition. The five-day expo, now in its 14th edition, has become the largest international trade exhibition in North India. We are also holding seminars and sessions for participants to improve their skills and industry relations,” he added.

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