Meeting regarding transfer of technology & setting up joint ventures in Ludhiana takes place

Ludhiana, August 2, 2017: Very productive meeting regarding Transfer of Technology & setting up joint ventures in Ludhiana took place between representatives of Fastener Association, Mr.Ruei-Weng Shen, Ph.D.from TAITRA - Taiwan, Ms.Rekha Sharma – Indian MSME Advisor & Senior Manager NSIC Mr.D D Maheshwari & Chief Manager NSIC Mr.Ajay Pal Singh - at premises of NSIC. Healthy discussions on possibilities of Technology Transfer & Setting up joint venture in Ludhiana fastener entrepreneurs took place & Narinder Bhamra – President FMAI highlighted the plus points of Ludhiana fastener entrepreneurs & the importance of Punjab in particular Ludhiana for their contribution in growth of MSE’s & the willingness of new generation of fastener family to adopt latest technology to enhance their production capacities & improve the quality parameters in line with International Standard. Mr.Ruei- Weng Shen briefed about the motive of their visit as Govt of Taiwan is keenly interested to shift their investments from Chine to India & that too in Ludhiana. As they feel that enterpreneurs from this part of world are very hard working & their willingness to adapt & implement the latest technology. The crux of the meeting was as under:

Points put forth by Narinder Bhamra – President – FMAI:

-The Policies of present State Govt are Industry friendly as highlighted in the proposed Industrial policy of Punjab Govt
-Emphasis of State Govt to ensure ease of doing business
- Cheaper Electricity w.e.f. 01.08.2017 will give cutting edge to Industry & moreover availability of 24x7 power.
-Availability of Cheaper & skilled labour as compared to other parts of Country.
-Availability of land at reasonable price
- level playing field in view GST as there is one taxation system through out India.
- Joint Venture can be launched under Fastener Cluster to take benefits from MSME.

Points put forth by Mr. Ruei- Weng Shen – TAITRA – TAIWAN:

-Decision of Shifting their investments to taken under Prime Minister Narendra Modi’s Make in India Slogan – as Taiwan Govt is highly impressed with the policies of Govt of India.
-Willingness of the Taiwan Industries to Shake hand with Indian Industrialists.
-TAITRA feels that though they invested in China & are producing high quality products but the same is considered as Made in China in other parts of the world.
- As per Mr. Shen they have done survey at their end & found Ludhiana more conducive to go for JVP’s.
- Once the initial reports are cleared then Mr. Shen proposed to sign MOU with Fastener Association in the near future but with emphasis on better infrastructure as they feel that infrastructure is very poor & special passage from dry port to other ports so that material can reach the ports from dry port with 3-4 days max.

Meeting ended with thanks to officials of NSIC, who hosted the meeting at a very short notice.

Narinder Bhamra- President FMAI, Kuldeep Singh Gen Secy FMAI, Atul Sethi Vice President FMAI, Sanjay Kapoor from Kapson, Narinder Khurana from Roshan Impex, Pukit Loomba, Kaloti,D D Maheshwari, Ajay Pal Singh, Ruei-Weng Shen & Ms. Rekha Sharma were present in the meeting.