22 august 2024 : On Wednesday, Punjab Chief Minister Bhagwant Mann solidified significant investment initiatives for the state, as prominent companies such as Sun Pharmaceutical Industries Ltd, RPG, Sify Technologies, and the JSW group expressed their intent to invest in Punjab.
In a meeting with industry leaders, Mann presented Punjab as a land rich in opportunities and encouraged them to consider investing in the region. He emphasized that entrepreneurs would greatly benefit from investing in a state that is swiftly becoming an industrial hub in the country.
Key commitments include:
- Sun Pharmaceutical Industries Ltd has shown interest in expanding the Taunsa project located in Nawanshahr.
- RPG Group is prepared to enhance CEAT’s operations.
- Sify Technologies Ltd plans to establish a data center in Mohali during the first phase, with an investment of approximately ₹1,500 crore in artificial intelligence.
- The JSW Group intends to invest an additional ₹1,600 crore.
The Chief Minister acknowledged that power is essential for growth and assured that the state government is committed to providing uninterrupted electricity across all sectors, including residential, commercial, and agricultural. He encouraged company representatives to take full advantage of the favorable environment in Punjab, which is supported by excellent infrastructure, reliable power supply, skilled workforce, and a strong industrial culture. Extending a warm welcome to industrialists, Mann stated that the government is receptive to new ideas and innovations aimed at enhancing industrial development in the state.
In a recent meeting with the Chief Minister, Damodharan Satagopan, the CEO of Active Pharmaceutical Ingredients (API) Business at Sun Pharmaceutical Industries Ltd, conveyed the company’s intention to make substantial investments in Punjab. He praised the state’s favorable business climate and proactive governance, emphasizing Punjab’s strategic benefits, including a skilled workforce, robust infrastructure, and the professionalism of its bureaucracy, which collectively render it an appealing location for pharmaceutical enterprises. Satagopan also expressed the company’s desire to expand its existing project in Taunsa, attributing this interest to the government’s pro-industrial policies.
Earlier in the discussion, Satagopan informed Chief Minister Mann that the company boasts an annual turnover of Rs 48,496 crore and is currently operational in Taunsa (Nawanshahr) and Mohali.
Additionally, Anant Goenka, Vice-Chairman of RPG Group, commended Punjab’s single-window system as an effective solution for the challenges faced by industrialists. He expressed his eagerness to invest in the state, noting that CEAT has plans for expansion.
Daleep Kaul, President of Sify Technologies Ltd, announced the company’s decision to establish a dedicated data center in Mohali during the initial phase, with an investment of Rs 1,500 crore in artificial intelligence. Furthermore, JSW Group has committed to making additional investments totaling Rs 1,600 crore in the region.