Punjab CM Announces Strengthening Of Single Window System For Investors

New Delhi: Punjab Chief Minister Bhagwant Mann on Friday said the state government will further strengthen the single window system for facilitating investors.

He reiterated his commitment to transforming the state into a major industrial and export hub by creating an investor-friendly environment.

Interacting with delegates at a meeting of the Confederation of Indian Industry (CII) Northern Region Council here, he said, the earlier single window service was "merely a sham, devoid of any meaningful purpose", which had demoralised potential investors and hampered industrial development.

The state government is making all-out efforts to ensure that investors get all facilities at this window smoothly, without any corrupt practices, the chief minister said in a statement.

Mann invited the captains of industry to invest in the state and become a part of industrial evolution and progress.

He said that the Punjab Government is undertaking myriad efforts to foster an investment ecosystem in the state, create suitable employment opportunities for all, provide access to quality infrastructure, and enable greater transparency and accountability in governance.

Rolling out the red carpet to the Indian industry, the chief minister said the state offers one of the most competitive rates of power for all industries and is recognised as one of the top achievers in significantly improving its ease of doing business, in the latest Business Reforms Action Plan (BRAP) report of the Government of India.

He also claimed that Punjab has undertaken simplification and digitisation of processes for compliance, decriminalisation of minor offences, and elimination of redundant laws and overlapping regulations.

The Punjab government will soon launch its new industrial development policy in the next few months which will lay down the roadmap for the next five years, Mann said, adding that the state government has received valuable suggestions from all stakeholders and efforts are being made to incorporate them into the New Industrial Policy 2022.

The chief minister said that recognising the huge potential of Electric Vehicles (EVs) as a long-term sustainable solution, Punjab will soon be launching the EV Policy to promote EVs and EV component manufacturing in the state. He also invited all industry representatives to attend the Progressive Punjab Investors Summit slated to take place on February 23 and 24 next year.