Punjab seeks investments from Birla group

Wednesday, 26 March 2003, 08:00 Hrs
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CHANDIGARH: The Punjab government Tuesday offered special incentives to the diversified Birla group for investing in the state.

"The group has shown keen interest in certain vital projects," said Chief Minister Amarinder Singh said Tuesday after a meeting with K.K.Birla, a leading industrialist and Rajya Sabha MP, who is also the chairman of The Hindustan Times group.

Singh, during an hour-long meeting with Birla, briefed him on the political and industrial scenario in the state.

Singh told Birla that industrialisation had suffered a serious setback during the rule of the Akali Dal, which was ousted in assembly elections last year.

He said his government had framed a new industrial policy to make up for this.

The chief minister later said Birla appreciated the steps the state government had taken and evinced keen interest in projects in the textile and fertiliser sectors.

He said Birla was offered all assistance from the state government for any project that his group might wish to undertake.

Singh said Birla asked about the impact of the withdrawal of free power to the agriculture sector, to which he explained the government had to take the decision in the interest of the state's economy.

The chief minister said international financial institutions including the World Bank and the International Monetary Fund were showing renewed interest in the state due to the fiscal reforms initiated by his government.

Singh told Birla his government was aggressively pressing the central government for concessions for industry in form of tax breaks on the lines given to Himachal Pradesh, Uttaranchal and Jammu and Kashmir.
Source: IANS
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