New Delhi, 26 Oct (KNN) The state government of Punjab is hosting the Progressive Punjab Investors’ Summit 2021 on 26th – 27th October, 2021 from 11:30am to 1:30pm.

Chief Minister of Punjab, Charanjit Singh Channi calls this as an opportunity for businesses and industrialists to explore various sectors such as agro-processing, pharmaceuticals, iron and steel, health, education and manufacturing.

The first day of the summit will be conducted through a virtual conference and the second day will be held at Kingsville Resort Ludhiana.

Punjab has a base of close to 1.6 lac MSME units. Some of the fiscal incentives offered to MSMEs are reimbursement of 100% of Net GST* Incentive for 7 years upto 100% of FCI; 5% pa Interest subsidy in Border Districts and Kandi Area and SC/ Women Entrepreneurs upto 10 lakh/year for 3 years; 100% exemption from Electricity Duty for 7 years; 100% exemption/reimbursement from stamp duty; reimbursement of 50% of expenses upto INR 5 lakh under ZED scheme of GOI and Assistance for Finance ,Technology, Infrastructure, Marketing & Exports.

Punjab constitute 75 per cent of India’s bicycle production and 80 per cent of cycle component manufacturing. It is also leading in hosiery woolens manufacturing and exports 65 per cent of India’s manufacturing.

Link for the details regarding Progressive Punjab Investors’ Summit 2021: https://investpunjab.gov.in/summit2021;key=sum2021