Shimla, January 03, 2023
Himachal Pradesh has been placed in the ‘top Achiever’ category in the Ease of
Doing Business ranking released by the Department of Promotion of Industry and
Internal Trade (DPIIT), GoI. In a bid, to make Himachal Pradesh as the preferred
investment destination, Hon’ble Chief Minister of Himachal Pradesh, Sh.
Sukhvinder Singh Sukhu instructed the department of Industries to revamp its
industrial policies and facilitation mechanism for investors in the State. On his
directions, a delegation of department officials consisting of Director of
Industries, Sh. Rakesh Kumar Prajapati, Additional Director Industries, Sh. Tilak
Raj Sharma, and EY Consultants Sh. Sumit Sagar Dogra, Sh. Navreet Singh
Beling met the officials of Punjab Bureau of Investment Promotion- Invest
Punjab and officers of Directorate of Industries, Punjab. The CEO of Invest
Punjab, Sh. Kamal Kishor Yadav, shared about the constitution of the bureau and
its functioning vis-a-vis approval and clearances for investment projects in the
State. He informed that the Invest Punjab has been entrusted with the
responsibility to ensure a smooth transition of projects from the proposal stage to
the implementation stage
Punjab Bureau of Investment Promotion Act, 2016 strengthened the legal
constitution of the institution, and empowers the CEO of the Bureau to exercise
powers of all the departments of the Government of Punjab as devolved upon it
under their respective rules. It enables Invest Punjab to work as a one-stop office
for providing state-level regulatory clearances and approvals for fiscal incentives
and is one-of-its-kind in India owing to its dual responsibility.
In the bureau, there are officers on deputation from participatory member
departments that ensures timebound resolution of challenges and supports in
quick grounding of investment in the State. The bureau financial budget is
2
supported through annual grant-in aid by the State Government and management
fee for the support function.
Sh. Rakesh Kumar Prajapati said that inputs from Invest Punjab and other
successful investment agencies in other States like Telangana, Rajasthan will be
submitted to the State government for considering the formation of an investment
bureau in the State.
