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Posted at: Dec 3, 2019, 7:33 AM; last updated: Dec 3, 2019, 7:35 AM (IST)

Research and innovation set to get boost in Punjab

Investors Summit: MoUs lined up to facilitate MSMEs
Research and innovation set to get boost in Punjab
Illustration: Sandeep Joshi

Vijay C Roy

Tribune News Service

Chandigarh, December 2

Punjab is set to witness boost in technology as The Progressive Punjab Investors Summit 2019 (to be held on December 5-6) will see research institutions, corporates, e-tailers and the Punjab government exchanging MoUs to promote research and development, innovation and facilitating MSMEs.

Punjab Agricultural University (PAU) will sign an MoU with California State University, Hero Group with Birmingham University and the state government with Amazon and Flipkart to facilitate the MSMEs.

The state has already done away with the practice of signing MoUs for investment. However, the MoUs pertaining to knowledge sharing, research and development and collaboration would be signed. “There are a couple of MoUs which will be signed during the two-day summit,” said Rajat Aggarwal, CEO, Invest Punjab.

The PAU will ink agreement to promote cooperation in crop improvement, biotechnology, natural resources, production and cultural practices, water and irrigation technology, and agricultural business.

It will collaborate for the exchange of scientists and technologists, exchange of research material and scientific literature, information and methodology; exchange of scientific equipment; and for the development and implementation of collaborative research projects.

Also, to facilitate the MSMEs in reducing the transaction cost, approach larger untapped markets, and avoid intermediaries, the state would sign MoUs with Flipkart and Amazon. According to retailers, with the signing of pact with e-tailers, people from across the country would be able to access the products manufactured by micro and small entrepreneurs of Punjab through their platforms. 

The Semi Conductor Lab would sign pact with the Software Technology Parks of India  for microelectronic and application-specific integrated circuit design. 

According to the state government, the summit will serve as a platform to promote new initiatives and adoption of technologies for the betterment of the agriculture sector and industry. It aims to enhance the income of farmers and help them move up the value chain. The event will be held at the Indian School of Business, Mohali, and see participation from MSMEs of Punjab, apart from leading industrialists, new-age entrepreneurs, foreign missions and other dignitaries. The Summit will showcase numerous investment opportunities offered by the state.

According to the state government, the summit has received overwhelming response from the participants as online registrations had already crossed the 1,500-mark. The summit will feature MSMEs, startups, industry 4.0, healthacre and agri and food processing session.

On the anvil

  • PAU will sign pact with California University
  • Hero Group will sign MoU with Birmingham University 
  • The state will ink pact with Amazon and Flipkart to facilitate MSMEs

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