Reiterating firm commitment of the State Government in facilitating investments from Japan through the Invest Punjab, Punjab Chief Minister Captain Amarinder Singh on Friday highlighted his vision of having a “Little Japan” in Punjab that builds upon the current thriving presence of more than 100 Japanese business establishments in the State.
In his virtual address to the ‘INDO-JAPAN Investment Symposium: Investment Opportunities in the State of Punjab’ organized by the Japan Desk at Invest Punjab in coordination with Embassy of India, Tokyo, the Chief Minister pointed out that Punjab is the safest place to do business having witnessed no lockouts and strikes in last 30 years.
“Invest Punjab has been rated as the “Top Performing” State IPA by Government of India and a dedicated Japan Desk has been formed at Invest Punjab for facilitating Japanese investors willing to invest in the State and would be the ‘match making’ platform for Japanese and Punjab based companies”, asserted Captain Amarinder Singh.
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 Agri and Food Processing, Technical Textiles, Engineering, Pharma & Medical Devices, Skill Development. He also reiterated the availability of 1000 Acres of land near Rajpura for the development of dedicated Japanese Industrial Township in the State.
In his opening remarks the Indian Ambassador to Japan, Sanjay Verma, welcomed Japanese companies to explore complementarities in India and especially in Punjab introducing Punjab as one of the most prosperous states in India that is also a preferred investment destination for international companies.
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 Ease of Doing Business. The investor-friendly ecosystem has allowed Punjab Government to receive Rs. 80,000 crore of investments that are under various stages of implementation. The State Government has aggregated land over 1000 acres at three locations that can be explored by Japanese industries, said the Chief Secretary.
On the occasion, Principal Secretary, Department of Investment Promotion Alok Shekhar, shared various activities being held by Punjab Government to build upon the cordial relationship between Japan and Punjab besides showcasing Punjab as an attractive destination to Japanese companies moving out of China.
CEO, Invest Punjab Rajat Agarwal, gave presentation on the huge 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 the State such as peaceful labour relations, lucrative incentives with no domicile constraint under the Industrial and Business Development Policy 2017 and the One Stop Office model of Invest Punjab.
Minister (E&C), Embassy of India, Tokyo, Mona Khandhar, outlined the importance of Punjab as an important destination in the development of Indo-Japan industrial and technical collaboration.
At the session, MD & CEO SML Isuzu Yugo Hashimoto, and MD Yanmar India Pvt. Ltd. Kazunori Aziki, shared their experience of operating in Punjab. They mentioned the availability of abundant skilled manpower and strong support from Government of Punjab in terms of ease of doing business.
The representatives from Japanese Government bodies such as Deputy Director-General, Ministry of Economy, Trade & Industry, Government of Japan, Osamu Onodera, hoped that Japan and Punjab are able to strengthen their relationship for industrial collaboration. Similarly, Executive Vice President, Japan External Trade Organization (JETRO) Kazuya Nakajo, spoke about the advantages of Punjab including its strategic location, great leadership, availability of abundant & quality power, attractive incentives, and presence of robust logistics & connectivity.
Isha Kalia, ACEO, Invest Punjab reiterated the strong bilateral relationship of Japan and Punjab and welcomed Japanese industries to invest in the State.