CHANDIGARH: Mr. Anil Joshi, Industries and Commerce Minister, Punjab today said that the latest data released by Reserve Bank of India declaring Punjab as country’s 3rd largest investment destination during 2012-13 has put stamp of approval on the ongoing development and initiatives taken by SAD-BJP Government in this regard.
In a statement issued here Mr. Joshi said thatPunjabhas now moved to the third spot with a dozen projects expected to generate investments of over Rs 20,600 crore or 10.5% of the pie of all-India investments. He said that the data released by RBI has indicated thatPunjabhas been able to attract high value investments in power and metal sectors.
Mr. Joshi said that Government of Punjab, was working towards their first investment promotion campaign Progressive Punjab and the data of RBI has reassured that the efforts put in by the state government have already started showing results.
He said that the state has all necessary factors like infrastructure, power, skilled man power, which play a vital role in shaping the future of an investment destination. RBI's data on investments in states has been compiled on the basis on data collected from banks and financial institutions that finance the projects, foreign borrowings as well as fund-raising from the stock market.