Hindujas will also make investments in the banking sector to facilitate loans for unemployed youth, self-help groups and progressive entrepreneurs to establish their ventures. Leading players like ITC, Trident, Sonalika, Hero Electric Vehicle Pvt Ltd and Cremica had put their products on display at the exhibition, which has designated stalls for MSMEs and startups …. reports Asian Lite News
The Progressive Punjab Investors Summit-2019 opened with the presence of top industrialists from Japan, the United Arab Emirates, the United Kingdom and Germany.
London-based Hinduja Group offered to help Punjab in addressing the stubble burning problem by lifting all the paddy straw from the fields for use in ethanol plants. The offer came during a meeting between Chairman of Hinduja Group, Prakash Hinduja, with Chief Minister Captain Amarinder Singh. During the meeting, Hinduja, who was leading a high-level delegation, also showed interest in partnering the State’s progress through investments in agri, transport, banking, healthcare and automobile sectors.
The Group, said Hinduja, could also make investments in the banking sector to facilitate loans for unemployed youth, self-help groups and progressive entrepreneurs to establish their ventures.
Acceding to a proposal from Captain Amarinder Singh, the Group also agreed to join hands with the State Government in its flagship programme ‘YAARI Enterprises’, under the Rozgar Mission, to provide easy loans to skilled drivers to run buses, for which permits would be allotted by the State Government.
Hinduja said the Group was also interested in partnering with the State Government and Israeli companies to utilize superior technology for enhancing the quality of fruit produce to international standards, and exporting the same through Joint Ventures on profit sharing basis.
Top domestic and global industries are showcasing their products at the exhibition inaugurated by Punjab Industries Minister Sham Sunder Arora on Thursday to kickstart the two-day Progressive Punjab Investors Summit at Mohali in Chandigarh.
Leading players like ITC, Trident, Sonalika, Hero Electric Vehicle Pvt Ltd and Cremica had put their products on display at the exhibition, which has designated stalls for MSMEs and startups, according to an official spokesperson.
Prominent among the MSMEs participating in the exhibition are Gilard Electronics Pvt Ltd, Falcon Garden Tools Pvt Ltd, Tynor Orthotics Pvt Ltd, Shri Ram Panels Pvt Ltd, and Windsor Industries Pvt Ltd.
A special attraction in this sector was Allengers Medical System, a unit set up at Derabassi, for supply of medical equipment to major hospitals like AIIMS, Safdarjung, and Ram Manohar Lohia in New Delhi, PGIMER and GMCH in Chandigarh, in addition to all Punjab government hospitals.
The company claims 36 per cent share of the total radiology equipment, especially X ray machines, in hospitals in the whole of India.
Another highlight is the display of AM International, a Jalandhar-based unit, showcasing sports products like Rugby balls and sports garments, and having the distinction of having supplied Rugby balls for the Rugby World Cup, 2019, held in Japan in November.
One of Asia’s largest cooperative federation, Punjab Markfed, is showcasing its flagship food products such Sohna bottled products, ready to eat cooked food products, mixed fruit jam, Sohna atta, natural honey, tomato ketchup, etc.
The Punjab government is also displaying its achievement and policies under its Ghar- Ghar Rozgar and Karobar Mission to encourage promising entrepreneurs to set up units in the state. One corner in the exhibition area has been set aside for budding startups to showcase their products.
Some of the startups have also displayed their environment friendly products, such as Texfab Ltd’s garment products made by recycling the waste plastic bottles.
Similarly, Windsor Industry, Kurali, has exhibited biodegradable and compostable tableware products.
Make in Punjab
Meanwhile, the state government is planning to support the Punjab-based manufacturers of sports goods, bicycles, auto parts, engineering goods and textiles through giving them an edge over other states in public procurement.
The Punjab government will soon notify “Make in Punjab” policy on the lines of the Centre’s ‘Make in India’ flagship programme to promote manufacturing and production of goods in the state.
Under the policy, purchase preference during public procurement will be given to local manufacturing for up to 50% of the total quantity. The suppliers will have to ensure that at least 40% of their goods are produced in the state and their bids are under 15% margin of purchase preference above the lowest bid.
In the procurement of goods where there is sufficient local capacity and local competition so that there are at least six local manufacturers or suppliers eligible as per the tender conditions, purchase preference will be given to local suppliers if the value is up to Rs 30 lakh.
— Invest Punjab (@invest_punjab) December 5, 2019