Punjab signs pact for promotion of products of MSMEs

Chandigarh, Nov 13 (IANS) A memorandum of understanding was signed here on Wednesday by state-run Invest Punjab with startup Pumpkart for e-commerce promotion and selling of products of micro small and medium enterprises (MSMEs).Punjab Small Industries and Export Corporation (PSIEC) Managing Director Sibin C. signed the pact on behalf of the state government with Pumpkart Co-Founder and CEO K.S. Bhatia.Additional Chief Secretary (Investment Promotions and Industry and Commerce) Vini Mahajan said MSMEs need platform like Pumpkart."The government is committed to promote the MSMEs at a time when there is economic recession in the country," she told IANS.She said industry in the state attracted more than 50,000 crore investments and these are under implementation stage."The electricity consumption in the state has gone up by 26 per cent, a clear indication of industry growth," she said."Keeping in line with the Make in India programme, we have formulated the Make in Punjab policy. This is a time to work together. Our focus is on providing jobs to the youth and our dream is to make Punjab number one once again," Mahajan added.Bhatia said, "Punjab has more than two lakh MSMEs and Pumpkart's e-commerce business model would give them a direct access to the domestic market without adding in any costs.""We are targeting to bring at least 10 per cent of these MSMEs on Pumpkart's platform in the next two years," he added.
--IANS vg/rs