Punjab/World News- Taiwanese delegation calls on Sukhbir Badal

Chandigarh, September 9, 2013- Punjab Deputy Chief Minister Sukhbir Singh Badal today invited the Taiwanese delegation to establish an integrated Taiwanese township in the state.

Interacting with the Taiwan delegation led by Philip Wen-Chyi, Senior Advisor CTBC Bank Co. Ltd and former ambassador to India Badal said  that Punjab Government would set up two Mega food processing parks at Sirhind and Fazilka.

He also said  that Food processing sector has the biggest scope for expansion and keeping in view the Punjab Government has announced New Agro Industrial Policy 2013 in which massive incentives has been announced for the projects worth Rs 1 crore to 100 crore.

The Deputy Chief Minister further said that it was for the first time in the country that any state has given VAT and CST exemption up to  90 %, whereas there would be no property tax, stamp duty on the land used for these units. There would be full incentives on electricity duty for 10 years, he added. Referring to the upcoming IT growth in the state, Badal said that Mohali and Amritsar have been identified for hardware manufacturing hubs in IT sector. Besides this convention and exhibition centre would also be set up at Mohali.

He added that Punjab state is considered as the most preferred investment destination in the country and lucrative investor-friendly investment policies of Punjab Government would help the prospective industrialists and investors to invest in Punjab.

Presenting the progressive data of overall development of Punjab state during the meeting, Punjab Deputy Chief Minister said that the state government would provide all possible assistance and cooperation for Taiwanese investors in setting up joint ventures especially in food processing as Punjab had a strong agriculture base being pre-dominantly an agrarian state. 

The Deputy Chief Minister said that India is on the take off stage and it has the biggest market in world, which was the basic need of MNCs to invest. He further said that nearly 50 crore middle class of India has a great purchasing power which would ensure the successes of investors in the country. Besides that Punjab has the highest per capita income, it has also the highest consumer index, the deputy Chief Minister added.

Seeking the technical help from Taiwan, Badal said that Punjab being a grain bowl of country, it contributes 60 % of food grain in the national kitty, whereas it has only 2% geographical area of the Nation. Calling upon the delegation to join hands, Badal said that hard work of Punjabi farmers and technology of Taiwan could bring another revolution in the agriculture and agro based product production.

The Deputy Chief Minister said that Punjab is all set to give a new look to its metro cities with Rs 10,000 crore in next 3 years. To interact directly with the investors of the whole world, Badal has also announced to organize investors summit-2013 in next month.

Taking part in the deliberations, Taiwan delegation chief Mr Philip Wen-Chyi, Senior Advisor CTBC Bank Co. Ltd said that it was the first time that such a big delegation of giant companies from Taiwan has come to any Indian state for investment purposes. Counting some basic similarities between Punjab and Taiwan, Philip said that both has equal area and if Punjab has earned the fame in Agriculture production, then Taiwan has led the world with Technical advancement. He said that mainly Taiwan companies investing in the China and ASEAN countries, but now they have turned their focus to India, especially Punjab. He said that our main target for investment is Agriculture and Food Processing.

Earlier Food and Civil Supply Minister of Punjab, Adaish Partap Singh Kairon has impressed upon the delegation to invest in cold chain as Punjab has taken a giant leap in the production of basmati and vegetables, which needs to be stored for export. Silos of 50,000 tonne capacity would be required for storage of food grains.

Besides that Finance Minister and Industry Minister Punjab, Chief Secretary Rakesh Singh has also addressed the delegation. A detailed presentation about Punjab was also given by Principal Secretary of Industry Karan Avtar Singh.