E-Paper
PROGRESSIVE PUNJAB INVESTORS SUMMIT 2019: Industrialists see it as an opportunity to grow
The Progressive Punjab Investors Summit 2019 is likely to give a much-needed boost to the industry in the state, particularly in Ludhiana, the industrial hub of
The Progressive Punjab Investors Summit 2019 is likely to give a much-needed boost to the industry in the state, particularly in Ludhiana, the industrial hub of Punjab.
Industrialists in Ludhiana see it as an opportunity to grow and at the same time feel that it will provide more employment opportunities to the youth.
Representatives of cycle industry, auto parts, knitwear and hosiery will participate in the two-day summit beginning on December 5 in Mohali.
President of the Chamber of Industrial and Commercial Undertakings (CICU) Upkar Singh Ahuja said it is high time that the government should work to invite more investment in the state. “Presently, most of the investment is being done in the Southern states of the country and if the state government is able to bring it to Punjab, it would be beneficial for the local industry. This will also generated employment and the local industry will get a chance to upgrade,” he said.
Chairman of the Knitwear Club, Ludhiana, Vinod Thapar said the past experience of the investors summit has not been so good as the one organised in 2013 failed to bring desired results. “But this time, we are hopeful that more corporate houses will come forward to invest in Punjab as the government is giving them several benefits,” said Thapar.
President of the Federation of Punjab Small Industries Association (FOPSIA) Badish Jindal said investment in the industrial sector is good but the government should take care of the existing industry, which is going though recession. The benefits which are given to new industry should also be given to the existing industry so that it could be revived, he said.
President of the United Cycle and Parts Manufacturers Association (UCPMA) DS Chawla said it was a welcome sign that the government was working to encourage investment in Punjab. “But firstly, it should work to revive the existing industry. At least the government should release pending VAT and GST refunds. It will be difficult for the new industry to survive without involving the local vendors and the state should work to revive the local industry too,” he said.
