Approximately 50 businessmen from Punjab recently visited Uttar Pradesh for another round of discussions with Uttar Pradesh’s Chief Minister Yogi Adityanath. The entrepreneurs reviewed investment opportunities in several areas in Uttar Pradesh.
Among those who went to visit the UP CM were Pankaj Munjal, the Chairman and MD of the Hero Group of Companies, SP Saini – a producer of auto components, Shatrughan Tiwari of Shiva Fabrics in Ludhiana, a representative of the Nahar Group of Industries, and others.
It is pertinent to note that the entrepreneurs met the UP CM under the banner of Atal Poorvanchal Udyogik Vikas Parishad. TR Mishra, a Ludhiana-based industrialist and chairman of the Punjab Dyeing Federation, is the chairman of this organization.
TR Mishra said, “The meeting happened on December 19. As many as 15 tycoons from Punjab had an interaction with Yogi Adityanath in which they expressed their interest to invest in UP.”
He further said, “Investment proposals of more than Rs 2 lakh crore were given by industrialists from different states, and Punjab’s bicycle, auto parts, dyeing, and boiler industry also expressed interest to invest in UP. I myself have proposed to invest Rs 30 crore in the boiler industry in Kanpur and I have submitted my proposal on the online portal of UP.”
According to a report by The Indian Express, Onkar Singh Pahwa – the Managing Director of Avon cycles – said, “I haven’t signed any investment proposal but have shown interest to invest in Saharanpur and around the area for some expansion work. But Punjab is my home state and I have no plans to shift my base. However, I can think of doing some expansion in UP as infrastructure has improved a lot in UP, manpower is available and the law and order situation has also improved a lot.”
This meeting of Punjabi industrialists with the UP chief minister has come at a time when Punjab’s chief minister Bhagwant Mann himself is visiting Hyderabad and Chennai to attract businessmen to invest in Punjab. Business owners in Punjab are of the opinion that the law and order situation in the state is deteriorating with every passing day under the AAP regime.
Punjabi businessmen met with Yogi Adityanath, the chief minister of Uttar Pradesh, to discuss their ambitions to invest billions of rupees in that state. According to reports, an MOU for Rs 2 lakh 30 thousand crores was inked. Up till March 31, 2023, the industrialists have set an investment protection objective of Rs 5 lakh crore.
Former MP from Patiala Dharamvir Gandhi made a remark on this situation and called it unfortunate. He said that the Punjab Chief Minister travelled to solicit investment from southern states as the state’s existing economy was crumbling as a result of law and order issues. He said that because of a worsening law-and-order situation in Punjab, investment has begun to depart the state. Dharamvir Gandhi added, “Traders and industrialists are frustrated. Gangster culture has increased. Many traders have been targeted of late for ransom. This is really unfortunate.”
A similar delegation of Punjabi industrialists met CM Yogi in 2021 too.