MSMEs in focus at Punjab investors' summit on December 5,6

The Progressive Punjab Investors Summit will be organised on December 5 and 6 in Mohali near here, the state government said on Sunday.

Seeing participation from the micro, small, and medium enterprises (MSMEs) of Punjab, apart from leading industrialists, new-age entrepreneurs, foreign missions and other dignitaries, the summit will be the ideal platform to experience the state`s success story and explore numerous investment opportunities, it said.

Additional Chief Secretary Vini Mahajan said the state has resisted the temptation of focusing entirely on big ticket international investments and instead has taken the bold step of internalising the efforts to support the MSMEs through industry partnerships which can help them shift their trajectory of growth.

The event aims to highlight that the state houses robust MSME units in numerous sectors which can be vendors or partners of the international clients looking for ancillary units to support their global value chains.

Mahajan said the state is partnering with corporates from Japan, the UAE, Britain and Germany and international players have expressed their interest in increasing investment.

According to her, along with a key focus on MSMEs, the state has identified thrust sectors like agro and food processing, healthcare, manufacturing and light engineering, plastics and petrochemicals and skill development.

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The summit will feature a one-of-a-kind interactive exhibition which will showcase the key products manufactured and technologies in the state that have excelled at the global level.

The Additional Chief Secretary said the present government has achieved a milestone of implementation of investment of over Rs 50,000 crore within 2.5 years.

She said the state is developing special parks for hi-tech industry with special emphasis on mobility sector, electric vehicles and engineering goods at Ludhiana and Mohali.

The key projects grounded include Pepsico`s (Varun beverages) Rs 800 crore facility spread over 41 acres in Pathankot, CN IFFCO`s Rs 521 crore frozen foods food processing unit, Happy Forgings` (Forging and Machinery) Rs 550 crore project, and Vardhman Special Steels` Rs 237 crore project (all three in Ludhiana).