City industrialists hail MP CM's visit amid Pb's policy gaps, fading sheen
They also openly voiced their concerns about the challenges faced in Punjab on the occasion. Several prominent industrialists who have already invested in MP shared their success stories, while others expressed keen interest in exploring opportunities there, citing more favourable policies and incentives.
The event turned out to be a gathering of Ludhiana's industry stalwarts — Rajinder Gupta, chairman of the Trident Group, along with the honchos of Vardhman Textiles, Ralson Tyres, Deepak Fasteners, Bhagwati and others.
Many industrialists noted that MP had managed to secure over Rs. 15,000 crore in investment commitments from Ludhiana-based companies, thanks to its proactive outreach and ease of doing business.
SC Ralhan, president of the Federation of Indian Export Organisations (FIEO), was candid in his critique of the situation in Punjab. "The policies in Punjab are not conducive to the setting up of industry anymore. Power tariffs are high, and sudden shutdowns are causing huge losses, especially with sensitive and expensive machines," he said.
Highlighting the acute shortage of labour in the region, Ralhan said, "Over the past two years, labour availability has become a serious issue. The Punjab govt must set up residential clusters in industrial zones to retain workforce. Drawing a comparison with MP, he praised the MP govt for offering timely and useful incentives. "A clear shift is happening. Earlier, it was the big units that invested in MP. Now, even MSMEs will begin moving there due to the policies that the govt has brought in," he said.
Sushil Mittal of Bhagwati Lacto Vegetarian, who has already invested in MP, said the state's administration has gone out of its way to support investors. "Every businessman looks at benefits, and MP is offering those benefits. There are more subsidies, less red tape, and a proactive approach. We've set up a food park there and now plan to start a biogas project as well," he added.
KK Seth, chairman of the Federation of Industrial and Commercial Organisation (FICO), said the visit has generated strong interest within Ludhiana's iconic bicycle industry.
"Eight bicycle companies are ready to go in together with an investment plan. The land prices are quite reasonable, and 25% of our investment is covered through subsidies. If the MP govt gives us a commitment of 10 lakh bicycles through their public distribution schemes, it becomes a viable project for us," he said.
Gurmeet Singh Kular, president of FICO, said the interaction with Dr Mohan Yadav left a strong impression. "He appeared to be a very positive and practical CM. Land prices for Rs 800 per square yard, 40% capital subsidy, and six operational airports make investments there attractive," he said.
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