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05/11/2019 11:41am

MNCs eyeing Punjab amidst US-China trade tension

image MNCs eyeing Punjab amidst US-China trade tension

Chandigarh, Nov 5 (KNN) Amid US-China trade tension, Multi National Company (MNCs) are eying Punjab for the investment and are likely to firm up their investment plans during the upcoming investor summit 2019 scheduled on December 5-6 at Mohali.

Major industrial groups from Japan, Taiwan and Germany will participate during the two day event where the state plans to showcase manufacturing skill of Punjab based Micro Small and Medium Enterprises (MSME) during the third edition of the event.

Japan is one of the partner countries for Progressive Punjab Submit and event is expected to unveil new investment plans in pipeline.

A slew of companies from Taiwan are companies is also likely to ink their plans to invest in Punjab.

“Many global companies feel that they are over-invested in China and now seeking investment in India,” Vini Mahajan, additional chief secreatry,

According to media reports, world's leading contract manufacturers of electronics, Taiwan based Foxconn is likely to invest in a cycle tyre manufacturing plant in Punjab, while a plastic products manufacturing park is also being mooted in Bathinda to benefit from existing HPCL-Mittal Energy Limited (HMEL) refinery.

Punjab’s top companies including Trident Group, Nahar Group are also likely to unravel their expansion plans. On display during the event would be expertise of Punjab based companies that have successfully build global value chains in partnership with international players including Sonalika Tractors, Aarti Steels, Savi International, Hero Cycles, Shingora Textiles etc.



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