Punjab set to host second Investors Summit at Mohali

Mohali, Oct 27 (PTI) Seeking to promote itself as best investment destination, Punjab is all set to host the two-day long ‘Progressive Punjab Investors Summit’ starting here tomorrow amid elaborate security arrangements.
“All the arrangements have been made for the investors summit which will commence tomorrow,” Punjab Industry Minister Madan Mohan Mittal said today.

Focusing on attracting investments in manufacturing, IT, agro-processing, health-care, bio-sciences etc fields, the state government is offering a slew of incentives including cheap power to new investors at Rs 4.90 per unit for five years, VAT retention, exemption from stamp duty, electricity duty as per 2013 industrial policy, to attract fresh investments in second edition of summit.
“The focus area will be to attract investment in various verticals including IT, food processing, plywood etc. Our intention is to promote industrial segment which creates employment generation,” the minister said.
Among major initiatives taken by the state government to promote industrial investments in the state was single window clearance for all permissions, pre-cleared industrial sites to enable investors to set up projects at once, surplus power, international airport at Mohali and better road connectivity, officials said.
Big corporate honchos including Mukesh Ambani, Malwinder Mohan Singh,
Rahul Bajaj, Ajay Piramal, GVK Reddy, Ajit Gulabchand, Sunil Munjal,
Chanda Kochhar are expected to participate in this mega event, they said.
Besides, the summit will also see the participation of delegates
from Poland, South Korea, China, among other countries for business
development.