The model of 'Invest Punjab' department, which is a "Single point of contact" for new investors had garnered a huge response from all over the country. This unique model is applauded by every individual and the Punjab government is happy with the response that they are getting.
This model has become an ideal model and a major step towards developing the business and functioning of the state. This model is one of its kinds in the country wherein 23 departments' power have been transferred to one man. It is an example the government of India should follow.
When investors come to India, they should not go to 100 departments of government of India. Instead there should be a single point of contact so that the process of investment becomes easy for them. There should be one Invest India in Prime Minister's office under Prime Minister. Anybody who walks in there should be one number, one man, one email and one month clearance for those who wants to invest in India that will be the game changer.
The Punjab government has put in place a Punjab Bureau of Investment Promotion (Bureau), which is the single point of contact for regulatory clearances and fiscal incentives approvals to facilitate investors who are looking to set up a business in the state.
This bureau is empowered to provide necessary clearance of departments including pollution, labour, industry, forest, electricity department and fiscal incentive approvals to facilitate new investment in the state.
An IAS officer has been made as CEO of Punjab Bureau of Investment Promotion. This model has become a talking point because it has given new dimensions to the whole process of investment. This model will act as a catalyst for the investors. This is a step ahead to make Punjab progressive on the business front.
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