Haryana CM Saini Pitches State Investment at Singapore Forum
CM Nayab Singh Saini highlights Haryana's investor-friendly policies and infrastructure at the SING Forum in Singapore to attract global companies.
In a major push to attract global capital, Haryana Chief Minister Nayab Singh Saini participated in a Fireside Chat at the SING Forum in Singapore, where he showcased the state's massive potential for industrial and economic growth. Emphasizing an investor-friendly environment, Saini made it clear that the state is ready to become a reliable partner for companies looking to expand their footprint in India.
Targeting Global Companies and Rapid Approvals
The Chief Minister revealed that the groundwork for this mission began well before his arrival in Singapore. Approximately 20 to 30 major companies had already been identified, with officials conducting several e-meetings to gauge interest. During the forum, multiple companies submitted formal investment proposals and expressed their intent to set up operations in Haryana.
To ensure these interests translate into reality, the Chief Minister highlighted the efficiency of the Haryana Enterprise Promotion Centre, which moves swiftly once a proposal is received. In a strategic move to bridge the gap with Southeast Asian investors, a dedicated Merlion Desk has been established to fast-track all investment proposals originating from Singapore.
A Robust Ecosystem Beyond the NCR
While Gurugram and the National Capital Region (NCR) remain major hubs, Saini pointed out that Haryana offers vast opportunities elsewhere. He noted that the state already hosts more than 270 Global Capability Centres (GCCs) and possesses a formidable automotive ecosystem.
Key highlights of the state's industrial offering include:
- Expansion Space: Locations outside the NCR provide ample land, industrial infrastructure, and room for large-scale expansion.
- Ecosystem Building: Medium-sized companies are encouraged not just to join existing systems but to develop their own specialized ecosystems within the state.
- Digital Land Intelligence: A unique "investment engine" allows investors to hover a cursor over any specific land parcel to instantly access comprehensive investment-related data.
Policy Reforms and Time-Bound Incentives
To minimize bureaucratic hurdles, the Haryana government has significantly strengthened its Single Window System. Saini detailed how the state has moved toward a time-bound incentive framework to provide certainty to businesses:
- New Policies: Ten new industrial policies were introduced in June to modernize the state's approach.
- Rapid Disbursement: Under the current framework, 50 per cent of eligible incentives are provided within the first seven working days.
- Full Settlement: The remaining balance of incentives is guaranteed to be processed within 45 days.
Addressing Resource Sustainability
Acknowledging concerns regarding resource management, the Chief Minister addressed the issue of water availability for high-consumption industries. He explained that the water requirements for specific projects and locations are assessed in advance to prevent shortages. Furthermore, the state is actively promoting the use of treated and recycled water to ensure industrial growth remains sustainable.
Concluding his address, Saini invited global leaders to write their next chapter of growth in India through Haryana, asserting that the state possesses the right location, the right ecosystem, and the right timing for large-scale opportunities.