In a major development that substantiates Punjab’s footing as a strong, business-friendly ecosystem, a recently released Business Reform Action Plan 2020 Report enlists it as one of the top 7 states in India which has a presence of a pro-trade supportive environment facilitating ‘Ease of Doing Business’.
The “ Top Achiever” position is quite a jump and much-needed relief for the state as it ranked 19th in the BRAP rankings of 2019 which placed it among the states which were deemed to be lagging behind in terms of a business-friendly ecosystem. Various reforms like the steady implementation of online land banks, auto renewals, and construction permits, are some of the measures that have improved the business comity and promoted cordial relationships among different economic and business groups.
Akshay Taneja, Managing Director of TDI Infratech, said, “Punjab is creating waves in the real estate headlines as it has been declared as one of the top business-friendly atmospheres in the country. The adoption of modern technology and population drifts have increasingly supported Punjab to position it where it is today. The idea of modern township work living is a real estate reality in Punjab due to the bankable investments by the realty doyens.”
The other states that found their place in the BRAP report were Andhra Pradesh, Gujarat, Haryana, Karnataka, Telangana and Tamil Nadu. What sets Punjab apart is its continuous dedication to cultivating a climate that is an ode to business transfigurations and innovations boosting investors’ confidence.
LC Mittal, Director Motia Group, said, “Ease of Doing Business rests on twin principles: – a resolute awareness of rapidly changing market dynamics and an egoless mindset to constantly adapt. On both fronts, Tricity has excelled, while Zirakpur has been pitted by NRI investments. It has all the important factors going along with it that are prerequisites for holistic business growth.
Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.