Protesting farmers stave off Investors from Punjab

June 24, 2021 03:33 PM

Chandigarh, June 22:

Promises made by different industrial houses during the  Progressive Punjab Investors Summit 2019 to accumulatively invest more than Rs 25,000 crores have proved to be damp squib primarily due to the disturbed law and order situation in Punjab.

The summit which had aimed at catapulting the State as a front-ranker favoured investment destination for domestic and global players could practically attract no new investors as the law and order situation remained crippled due to the ongoing farmers' protest.

"There is a gloomy atmosphere even among those who have invested in the state because of the lurking fear that unruly elements could disrupt the industrial scenario at the throw of a hat without any fear of the state", said Gursharan Singh, who runs a hosiery business in Ludhiana.

He said he had attended the investors' summit in 2019 as there were big promises given by the state government.

He said farmers' prolonged agitation during which they had blocked the road and railway traffic sent very discouraging signals to investors from outside the state.

Sanjay Kumar, executive director of Taraom Yarns in Ludhiana, said that even during the Covid times a group of traders from the South had planned to set up a unit here but early this year the plan was deferred indefinitely in view of the farmers' protest.

He suggested that the state government should create an atmosphere of confidence for the industrial sector to flourish in the state. "The lack of will on the part of the state government to keep protestors under check was far too clearly evident in the recent times which is discouraging for new investors as well as for those who have already invested in the state," he added.

Punjab Industry Minister Sunder Sham Arora said farmers are protesting at the Tikri border in Haryana and in Punjab there are no protests. When asked about the siege of many corporate offices by farmers he said he had no idea about it.

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