Chief Minister Bhagwant Singh Mann led Punjab became the first state in India to launch unique colour-coded stamp papers in 2023. The initiative aims to simplify the process for entrepreneurs seeking to establish their industrial units in the state, promoting ease of doing business.Revolutionizing industrial clearances with Green Stamp PapersThe green-coloured stamp papers, designed specifically for industrialists setting up new ventures in Punjab. This innovative system allows entrepreneurs to obtain all necessary clearances—such as CLU, forest, pollution, and fire approvals—through a single stamp paper, available via the Invest Punjab portal. By paying the required fees for all clearances upfront, the industrialist ensures a faster and smoother process, with a commitment from the government to deliver all necessary approvals within just 15 days.The green stamp paper symbolizes that the entrepreneur has already paid for all the required clearances, cutting down on bureaucratic delays and streamlining the process. This first-of-its-kind initiative is expected to significantly boost industrial development in Punjab by saving time, money, and effort for investors.The concept of colour-coded stamp papers originated from discussions between the Chief Minister and industrial leaders from within Punjab and across India during the run-up to the Invest Punjab summit. CM Mann recognized the challenges faced by business owners and devised this out-of-the-box solution to make the state more investor-friendly.By reducing red tape, this initiative is expected to attract more industrial investment to Punjab, making it a front-runner in Indias industrial sector. Mann also announced that this colour-coding system would soon be extended to other sectors, such as housing, to ensure better land resource utilization and simplify processes across industries.Punjabs investment surge in 29 monthsIn the last 29 months, Invest Punjab has successfully attracted 5,265 investment proposals, totaling approximately ₹83,857 crore. These investments are expected to create around 3,87,806 jobs across various sectors. The states progressive policies and investor-friendly initiatives, like the colour-coded stamp papers, have positioned Punjab as one of the most attractive destinations for industrial investments in India.
