Mohali, Dec 7 (KNN) Punjab Chief Minister Amarinder Singh has said that new Micro, Small and Medium Enterprise (MSME) unit in the state won't be asked for certain permissions for three years under the Punjab Right to Business Act 2019.

"We have said for three years you do not need permissions. Nobody is going to ask you for anything," Amarinder said while addressing a gathering on the concluding day of the Progressive Punjab Investors Summit here.

On December 2nd, the state cabinet had decided to bring in the Punjab Right to Business Act 2019 and Punjab Right to Business Rules 2019 to give relaxation in the certain approvals and inspections for establishment and operations for MSMEs in the state.

The Punjab government organised a two-day Progressive Punjab Investors Summit which concluded on Friday. The event saw participation from the MSMEs, apart from leading industrialists, new-age entrepreneurs, foreign missions and other dignitaries.

Notably, On the first day of the two-day Progressive Punjab Investors Summit, the Punjab government signed Memorandum of Understandings (MoUs) with e-commerce giants like Amazon and Flipkart to enable Punjab based Micro, Small and Medium Enterprises (MSMEs) to access new markets and to increase business and trade inclusion opportunities for MSMEs in the state.

The MoUs were signed by state Industries and Commerce Minister Sunder Sham Arora. The minister said that the government had signed the MoU with Amazon to enable B2B (business to business) linkages with key international markets, including the US, Canada and key European markets while the MoU was signed with the Flipkart to facilitate access for MSMEs to new domestic markets, for pushing handloom weavers and small enterprises in Punjab towards growth.

Punjab is home to over 1.6 lakh micro, small and medium-sized enterprises which are crucial drivers of job creation and economic growth. However, many of them are unfamiliar with how to sell online and do not get to interact with online marketplaces to clear their doubts regularly.