The Hindu : New Delhi News : Haryana becomes a hot investment destination

Online edition of India's National Newspaper
Friday, Jan 20, 2006

New Delhi

New Delhi

Haryana becomes a hot investment destination

Special Correspondent

NEW DELHI: The Haryana Government has signed 136 Industrial Entrepreneur Memoranda (IEM) and Letters of Intent (LIs) involving an investment of Rs.1044 crores for putting up a variety of industries in the State, according to Chief Minister Bhupinder Singh Hooda.

Inaugurating the Associated Chambers of Commerce and Industry of India (ASSOCHAM)-organised "Invest Haryana Summit" here on Wednesday, the Chief Minister said the State has already approved investments totalling Rs.7000 crores by March 2005 for which operational work has already begun.

The State intends to attract additional investment proposals to the tune of Rs.2000 crore in near future for which necessary groundwork is already in the pipeline. These investments on crystallisation would generate employment opportunities for thousands of people in the industrial belt of Haryana, which includes Gurgaon and its adjoining areas, like Faridabad and Panipat, he said.

The major areas in which the investments will be elicited include: automobile, textiles, petrochemicals, ITeS, engineering and others.

"Haryana produces more than 50% of passenger cars, 50% of motorcycles and 25% of tractors manufactured in the country. One out of every 4 bicycle is manufactured in the State. About 25% of India's total production of sanitary ware comes from Haryana and the State has been rated as No. 1 State in the country in terms of producing per capita income", said Mr. Hooda. As such a large number of MNCs have been approaching the State administration for parking their surpluses in the State, said the Chief Minister.

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