Punjab woos K'taka Inc, ropes in Biocon, Infy

Punjab woos K'taka Inc, ropes in Biocon, Infy

The Punjab government kickstarted its roadshow from Bangalore to seek investments back home, with a series of meetings on Monday with Infosys Chairman N R Narayana Murthy, Biocon CMD Kiran Mazumdar-Shaw and Manipal Global Education Services Chairman T V Mohandas Pai, among others.

The “Progressive Punjab”initiative seems to have made headway with Punjab Deputy Chief Minister Sukhbir Singh Badal offering to set up joint venture with Biocon for cancer and diabetes treatment after Biocon CMD Dr Kiran Mazumdar-Shaw evinced interest.

The government also invited her to invest in Medicity at Mullanpur, to which she agreed.

Infy campus in Mohali

Its second success seems to be in getting Infosys to explore setting up a centre in its 1,600-acre Knowledge Park in Mohali. The government quoted the Chairman of Infosys, N R Narayana Murthy as saying that Infosys could establish a 100-acre campus at Mohali, a final discussion on which would be taken after a company executive visits Mohali this month. It also said that if the Infosys project gets through, the company would start off with 5,000 employees and gradually ramp up to 40,000 employees over 5-8 years.

The third is the setting up of an 40-acre electronic system design & manufacturing (ESDM) cluster in Mohali, approved by the government of India.

“The India Electronics & Semiconductor Association Chairman Sanjeev Keskar has assured that the association will partner the government for the cluster,” Principal Secretary, Government of Punjab, Karan A Singh, said.

On Tuesday, Badal told reporters that among other incentives, the government will give manufacturers the option to retain value added tax of up to 80 per cent for 10 years, based on the quantum of investment. “We met executives of many Karnataka-based companies who evinced interest in investing in Punjab, but I won't name them now.”

The government will hold its investor summit in Chandigarh on December 9 and 10, 2013.

The state government has acquired 10,000 acres of land in the last five years, Karan A Singh added.

‘NDA poised to win’

On the current political situation, Badal said, “There is political and economic collapse in India and (BJP prime ministerial candidate) is the only solution to all problems.” He hinted at NDA managing to get new allies into its fold and said, “NDA will win a comfortable majority on its own in the coming general elections.”

On the current dispensation at the Centre and Prime Minister Manmohan Singh, Badal said, “Today we have the most indecisive government since independence. Manmohan Singh is a good man, but he is being controlled by the Gandhi family.”

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