By Malvinder Mohan Singh
Executive Chairman, Fortis Healthcare Ltd
Punjab has always been proactive in its stance to seize the opportunities that come with change. This aspect is strongly ingrained into the very DNA of the state and its hardworking people who are known for their resilience and their undying spirit. It is no strange coincidence therefore that Punjab is known all over the world for its industrious spirit, entrepreneurship and positive attitude.
Thanks to the green revolution in the 1960s, Punjab became “India’s Bread Basket” producing bountiful amounts of wheat, rice, fruits, sugarcane and vegetables. Over the years, it has rapidly evolved into an industrial state, experiencing unprecedented growth in sectors such as power & energy, mining and minerals, general manufacturing, textiles, sugar and also in services such as banking & finance, healthcare, tourism, transportation among others.
Today the state’s infrastructure consisting of roads, rail, air transport network and e-connectivity services are rated among the best. The processes and procedures to establish businesses in Punjab have been streamlined. In 2013, it set up a Bureau of Investment Promotion (BIP) for a one-stop clearance of investment proposals, making it easy for doing business. The state has taken a landmark step by permitting retention of VAT and CST by industries. The new package of fiscal incentives aims to give a substantial push for economic growth.
Our family too has contributed to state’s growth for three generations now. With its origins in Punjab and significant investments in hospitals in Mohali, Ludhiana and Amritsar, Fortis Healthcare today ranks among the leading hospital chains across India. We are now focusing on strengthening medical infrastructure and doubling our investments in Punjab. I wish Punjab all the best.
Punjab has been one of the most prosperous states in the country. Agricultural and industrial revolutions have already made it an attractive business destination. The burgeoning service sector is now becoming the new growth engine. This will provide a strong momentum for further development and will pave the way for rapid increase in economic activity, making Punjab a model and forward looking State.
