NEW DELHI: In its bid to attract foreign direct investment (FDI), Punjab has invited a high-level delegation of Canadian industrialists and entrepreneurs to explore the possibilities of ventures in information technology, biotechnology, infrastructure and housing in the State, Chief Minister Amarinder Singh said here on Sunday.

"We have invited a 21-member high-power delegation of eminent industrialists and prospective investors who intend to make investments in Punjab in IT, biotechnology, infrastructure and housing sectors and the delegation is likely to visit Punjab in October this year," Capt. Singh told newspersons on his return from Canada after a week-long visit to attract foreign investors.

Ensuring smooth flow

Capt. Singh said to ensure the smooth inflow of FDI, the State Government had set up a committee under his chairmanshipon mega projects to grant prompt and other necessary approvals to projects involving an investment of Rs. 100 crores and above. As the State Government was unable to make large investments for rural development, he had urged the Punjabi non-resident Indians (NRIs) to invest in infrastructure, health and education to ensure rural prosperity in the State.

Noting that Punjab had signed a memorandum of understanding (MoU) on biotech research with a leading Canadian institution, Capt. Singh said that the step could herald a biotech revolution in agriculture in the country. The MoU, he said, envisaged the setting up of a viable "biotech park" in Punjab to facilitate the incubation of a variety of technologies through private initiative. It also proposed the establishment of a centre for excellence in biotechnology education in the State in cooperation with Canadian universities, he said.

Capt. Singh said during his visit to Canada, the Prime Minister of Ontario had assured assistance to Punjab in tackling the problem of pollution along with transfer of technology in animal genetics and breeding.

`Totally baseless'

Capt. Singh brushed aside media reports that Punjab had refused river water to Rajasthan. "The reports were totally baseless and erroneous and merely a figment of imagination," he told newspersons.

On the contrary, Capt. Singh said that the Punjab Government had already enacted a law to ensure and protect the current usage of river water by both Rajasthan and Haryana.

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