The Green Stamp Paper initiative, introduced by Chief Minister Bhagwant Singh Mann, is a unique move by the Punjab government for industries. This is an online process that has increased transparency and eliminated the possibility of fraud in land acquisition. The Green Stamp Paper is issued only after obtaining the necessary approvals for land acquisition, allowing industries to register their sale deeds seamlessly.
Minister Tarunpreet Singh Sond stated that, due to the Green Stamp Paper initiative and the Punjab government’s commitment to industrial growth, the state has received investment proposals worth Rs. 94,203 crore between March 2022 and now, in nearly three years. This investment is expected to generate employment for over four lakh individuals. He also invited other industrialists to invest in Punjab, emphasizing that the state’s industry-friendly policies have attracted major industrial houses to establish their units here.
He further added that Punjab offers a favorable, suitable, and peaceful environment for investment. The government is working with complete dedication towards industrial development. He highlighted that the state’s policies are pro-industry, allowing small and medium-scale entrepreneurs to start their businesses with just an affidavit, while the necessary documentation process can be completed within three years.
Minister of Industries, Commerce, and Investment Promotion, Tarunpreet Singh Sond, mentioned that the Green Stamp Paper initiative has accelerated the legal documentation process for industrialists. The key advantage is that everything is done online, making transactions more efficient and accountable.
Sond also stated that the Green Stamp Paper ensures the rapid issuance of regulatory approvals for industries. Pre-approvals from six departments are granted within stipulated timeframes through a single-window system.
These departments include Revenue, Housing & Urban Development, Local Government, Punjab Pollution Control Board, Forests & Wildlife, and Labour & Factories.