Punjab makes a pitch for investments from Taiwan

A high-level delegation of officials of the Punjab government and industrialists left for Taiwan on Monday to discuss potential economic and trade partnerships, talent exchanges and resource sharing.

Punjab has selected Taiwan as a focus country owing to various investment opportunities and potential business synergies possible in categories of bicycle and its components, electric vehicles, electronics, light engineering, auto components, skill development and textiles, a spokesperson for the state said.

Additional Chief Secretary Vini Mahajan and Invest Punjab CEO Rajat Agarwal will be addressing the gathering at the Taiwan-ASEAN-India Strategic Partnership Forum in Taipei and Hsinchu to showcase the readiness of Punjab to cater to the industrial requirements of Taiwanese companies.

They will apprise Taiwanese investors of the significant reforms undertaken by the state, including a blend of policy level changes, simplification of processes and implementation of technology-based solutions to create a business-friendly ecosystem.

Punjab will also leverage this forum to solidify its presence as a preferred investment destination among other ASEAN countries.

To promote industries, Punjab is also adopting measures like cluster approach with the creation of industrial sites like Hi-Tech Valley in Ludhiana where 380 acres dedicated to electronic vehicles, battery manufacturing and bicycle manufacturers and MediCity in Mohali for setting up a multi or super speciality hospitals and medical colleges.

State-based corporates like Managing Director Hero Electric Naveen Munjal, Vice Chairman of Trident Ltd Abhishek Gupta, Director of Hero Cycles Abhishek Munjal, Lovely Professional University New Investment Head Pratham Mittal, New Swan Group Managing Director Upkar Singh Ahuja and NP Group Director Rohit Mittal are accompanying the government delegation.

( With inputs from IANS )