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Five nations show interest in expanding trade ties with Punjab

Five nations show interest in expanding trade ties with Punjab

Visitors at a PITEX stall at Ranjit Avenue in Amritsar on Friday. Photo: Vishal Kumar



Tribune News Service

Amritsar, December 8

Five countries have shown interest in expanding their business and investing capital in Punjab. Some countries are considering the border state as better option for them in the field of the IT. Some are showing interest in the field of producing cooking oil.

Industries can be established to promote the exchange of mustard oil and crude palm oil. The Indonesian trade representative has sought further correspondence with the Punjab Government in this regard. DPS Kharbanda, CEO, Invest Punjab

Fiji’s High Commissioner Nilesh Roneel Kumar, Kyrgyzstan’s Ambassador Ackap Askar Beshimov, Bangladesh’s High Commissioner Mohammad Mustafizur Rahman, Uzbekistan’s Trade Economic Counsellor Khurshidbek Samiev and Indonesia’s Trade Attache Bona Kusuma visited the 17th PITEX being organised by PHD Chamber of Commerce and Industry. DPS Kharbanda, CEO, Invest Punjab, held a meeting with them here today.

During the round table conference at PITEX VIP lounge, Kyrgyzstan’s Ambassador Ackap Askar Beshimov said at least 100 new industries were being set up in India by his country. Many of these industries would come up in Punjab. He said business matters would be taken forward in the fields of agriculture, forestry, fishing and mines.

Fiji’s High Commissioner Nilesh Roneel Kumar said the effect of better relations between India and his country could now be seen in Punjab also. He showed interest in doing business with Punjab in the fields of production and tourism.

Uzbekistan’s Trade Economic Counsellor Khurshidbek Samiev held talks with representatives of the Punjab Government regarding the future of natural gas and minerals industries.

Indonesia’s Trade Attache Bona Kusuma said in his country, companies of crude palm oil, electrical equipment and rubber products considered India as their biggest market. Due to high consumption of crude palm oil in Punjab, he gathered information about various formalities of the state government regarding setting up industry in this field.

DPS Kharbanda, CEO, Invest Punjab, said, “Many districts in Punjab produce mustard. Ludhiana has the highest number of mustard oil producing companies.”

He said, “Industries can be established to promote the exchange of mustard oil and crude palm oil. The Indonesian trade representative has sought further correspondence with the Punjab Government in this regard.”

Kharbanda said after the formation of the new government in Punjab, 3,893 investment proposals had been received so far. He said these proposals offered an investment of Rs 59, 318 crore which could generate 3.5 lakh jobs.

He said electricity tariff subsidy worth Rs 2,910 crore was disbursed among beneficiaries during the current financial year. Apart from this, incentive amount of Rs 100 crore was distributed among 132 units. A budget of Rs 3,258 crore had been arranged for providing subsidy for the year 2023-24, he added.

On the occasion, Naveen Seth, Deputy General Secretary, PHD Chamber of Commerce and Industry, said, “The chamber has made an effort to bring the Punjab Government and foreign representatives on one platform so that industrial capital investment can be increased in the border state.”

RS Sachdeva, Chairman, PHDCCI, Punjab Chapter, said, “Through this round table conference, many countries are expected to invest in Punjab. Correspondence would be maintained with these countries by the state government.”

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