Punjab, being an agrarian state where 75% of the population depends directly or indirectly on the agricultural sector to earn a living, efforts are being made to improve the facilities in all respects by the state government. Owing to the concentrated commitment of the government, India’s one of the foremost multi – business enterprise ITC identified Punjab to be a potential location for setting up fruit and vegetable processing plant.
The export of fruits and vegetables from Punjab is one of the apex priorities of the state government. Keeping in view the same, India’s leading Fast moving consumer goods company, ITC Limited acknowledged Punjab to be pioneer in the agricultural sector, in comparison to the other states in the country.
“ITC is in the process of investing in an ‘Integrated Foods Manufacturing cum Logistics center’ at Kapurthala, Punjab. INVEST PUNJAB office and the state authorities have been extremely pro-active and co – operative to facilitate ITC’s state of the art investment including quick allotment of land and sanctioning of necessary approvals. ” stated, Sanjeev Puri, the President of FMCG Businesses.
What is Invest Punjab?
Invest Punjab is a single point of contact for the investors, for all State level regulatory and fiscal clearances. It ensures smooth and efficient approvals for projects from the proposal stage to the completion stage. It is basically, a one stop approval mechanism which promotes hassle free transactions and provides attractive package for fiscal incentives, under the expert guidance of dedicated relationship officers.
ITC’s agriculture business is one of India’s largest exporters of the agricultural products. ITC is the only enterprise in the world, of comparable dimensions to be carbon – positive, water positive and solid waste recycling positive. The Punjab food park located in Kapurthala, is an example of jolting execution by ITC.
The Deputy Chief Minister, Sukhbir Singh Badal informed that a Memorandum of Association was signed between Indian Tobacco Company (ITC) and the government of Punjab in the year 2014. Keeping in view the same, the state government allotted 62 acres of land for the project, in Kapurthala.
“The plant will manufacture all kinds of food products and it will give a boost to farmers in the area, as all raw food material to be used in the manufacturing will be obtained from local farmers only”, stated the Sukhbir Singh Badal. As the Shiromani Akali Dal – BJP government of Punjab, completed 9 years of its operating in the state, the deputy chief minister shared his vision of expanding the food operations in the Kapurthala plant, which would make it Asia’s biggest food processing plant. FMCG giant ITC Limited, decided to double the investment to Rs 1400 crore in the Punjab food park.
The fruit and vegetable processing plant in Kapurthala has been successful in making an attempt to improve ties between the farmers and the state government. Such encouraging measures taken by the government in the agricultural sector have contributed towards the economic co-operation in the state.