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07/12/2019 11:33am

Punjab govt to set up 100 cr MSME marketing cell

image Punjab govt to set up 100 cr MSME marketing cell

Chandigarh, Dec 7 (KNN) In a bid to boost Micro Small and Medium Enterprises (MSME) and the entrepreneurial culture in the state, Punjab Chief Minister Capt Amarinder Singh has decided to set up a Rs 100-crore MSMEs marketing cell on the second day of Progressive Punjab Investors Summit-2019.

The MSME marketing cell will work for forming trade linkages for Punjab's micro, small and medium enterprises (MSMEs), a government release said here.

The state government also assured investors of industry-friendly policies as the summit showcased the strength of Punjab MSMEs.

The startup fund will be set up by the state in partnership with IKG Punjab Technical University for the promotion of incubators. Also, Venture Capitalists and Angel Networks like Indian Angel Network and Bharat Fund may contribute to this corpus fund.

Responding to the industry’s concerns about interference from regulatory bodies for environment and pollution, Singh decided to go in for “Auto Consent to the Green Category Industry on Intimation”. With this, the state government will do away with inspection by any regulatory body and consent shall be given to the industry on the same day of the intimation.

Further, the minister also decided to bring certain amendments to GST reimbursement policy to encourage non-paddy based agri-processing sector to wean farmers away from paddy, thereby saving water and preventing air pollution from stubble burning.

According to release, Capt Singh directed Invest Punjab to immediately establish a dedicated UAE desk at their office, the release said.


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