Punjab committed in facilitating investments from Japan: CM

·3-min read

Chandigarh, Apr 16 (PTI) Reiterating commitment of the state government in facilitating investments from Japan through the Invest Punjab initiative, Chief Minister Amarinder Singh on Friday highlighted his vision of having a 'Little Japan' in the state that builds upon the current presence of over 100 Japanese business establishments in the state.

He was virtually addressing the 'Indo-Japan Investment Symposium: Investment Opportunities in the State of Punjab', organised by the Japan desk at the Invest Punjab in coordination with Embassy of India, Tokyo.

The chief minister said Punjab is the safest place to do business having witnessed no lockouts and strikes in the past 30 years.

'Invest Punjab has been rated as the 'top-performing' state IPA by the Government of India, and a dedicated Japan desk has been formed at Invest Punjab for facilitating Japanese investors willing to invest in the state,' said Amarinder, as per an official statement of the Punjab government.

Invest Punjab would be the 'match making' platform for Japanese and Punjab-based companies, it added.

Established in 2013 by the state government, the Punjab Bureau of Investment Promotion (Invest Punjab) is a single point of contact for facilitation of investors who are looking to set up a business in Punjab.

Inviting the Japanese enterprises to Punjab, the chief minister highlighted the opportunities for investment or collaboration with Punjab-based companies in multiple sectors such as agriculture and food processing, technical textiles, engineering, and pharma.

He also reiterated the availability of 1,000 acres of land near Rajpura for the development of dedicated Japanese Industrial Township in the state.

In his opening remarks, Indian Ambassador to Japan, Sanjay Verma, welcomed Japanese companies to explore complementarities in India, especially Punjab.

Highlighting the 'pro-industry atmosphere' in the state, Chief Secretary Vini Mahajan shared that Punjab is well on its way to becoming a lighthouse state in the ease of doing business.

The investor-friendly ecosystem has allowed the Punjab government to receive Rs 80,000 crore of investments that are under various stages of implementation, the Punjab chief secretary said.

The state government has aggregated land over 1,000 acres at three locations that can be explored by Japanese industries, said the chief secretary.

On the occasion, Alok Shekhar, principal secretary under the Department of Investment Promotion, shared various activities being held by the Punjab government to build upon the cordial relationship between Japan and Punjab. Besides, He also showcased Punjab as an attractive destination to Japanese companies moving out of China.

Invest Punjab CEO Rajat Agarwal gave a presentation on the investment opportunities in the state for the Japanese companies across multiple sectors that have complementarities with Japan.

Mentioning the sectoral strengths in the state, he focused on various factors congenial to investment in Punjab such as peaceful labour relations, lucrative incentives with no domicile constraint.

Minister (Economic & Commerce), Embassy of India, Tokyo, Japan, Mona Khandhar outlined the importance of Punjab as an important destination in the development of Indo-Japan industrial and technical collaboration.

At the session, SML MD and CEO Isuzu Yugo Hashimoto and Yanmar India MD Kazunori Aziki shared their experience of operating in Punjab.

They mentioned the availability of abundant skilled manpower and strong support from the Punjab government in terms of ease of doing business.

The representatives from Japanese government bodies such as deputy director-general, Ministry of Economy, Trade and Industry, Government of Japan, Osamu Onodera, hoped that Japan and Punjab are able to strengthen their relationship for industrial collaboration. Japan External Trade Organization (JETRO) Executive Vice-President Kazuya Nakajo spoke about the advantages of Punjab, including its strategic location, great leadership, availability of abundant and quality power, attractive incentives, and presence of robust logistics and connectivity. PTI VSD HRS hrs