Punjab offers multiple opportunities for investment in textile sector

Progressive Punjab Investor Summit 2015 begins today in Mohali with focus on startup businesses in the state by providing budding entrepreneurs an international platform to present their innovative ideas before those who have already made a mark in the industrial sector. It is for the first time that the summit is joining hands with Startup Accelerator Chamber of Commerce (SACC).

The technical session on manufacturing in progress Punjab summit-2015 will focus on reducing the cost of manufacturing, pooling research and development costs, measures to reduce the cost of inputs, skilling and retraining of existing work force to new technologies besides exploiting the emerging e-commerce platform to globally marketing the projects being manufacturing the Punjab.

Karan Avtar Singh, Additional Chief Secretary Industry & Commerce while presiding over the session of marketing said that Punjabi have entrepreneurship in their blood who are known for accepting challenges and succeeding in adverse circumstances.

Emphasizing on the strength of entrepreneurial qualities of state, he said that Punjab has emerged as the leading hub for textile-based industries such as apparel manufacturing, spinning and hosiery exports. With the development of apparel parks, favorable textile policy and other incentives for the creation of textile infrastructure, the state offers multiple opportunities for investment.

Inviting the investors to invest in manufacturing sector he said that another key strength of Punjab is its strong base of well-established Micro, Small and Medium enterprises in the state. He said that approximately 2,00,000 small scale industries which are one of the most important pillars of the industrial growth are active in the State.

Singh said that Punjab has always promoted innovation & enterprise. There is scope for development of manufacturing across the value chain including services for high end design, Prototyping, 3D Printing etc. Govt. of Punjab is keen to develop a thriving ecosystem in the state for hi-tech manufacturing and encourage the local players to invest in the modernization of manufacturing facilities to improve quality, competitiveness and value addition.

The session also discussed on the issue of building a robust manufacturing ecosystem – Strengthening vendor linkages, plug and play infrastructure and competitive industrial clusters. Role of government in facilitating vendor to anchor linkages and knowledge collaboration was also deliberated in the session.

The delegates did a brainstorming on building a robust value chain for new age manufacturing – Industrial clusters with services for high end design, prototyping, 3D printing.

Progressive Punjab Investor Summit 2015 scheduled for October 28 to 29 in Mohali.