Ludhiana: After Bihar’s industry minister Syed Shahnawaz Hussain came calling to Ludhiana to invite local industrialists to invest in Bihar, the state’s textile and garment manufacturers said the incentives offered by Bihar government are lucrative for the textile and garment sector. They are also of the view that delay by Punjab government to decide future of the scrapped textile park project will definitely lead to businessmen expanding their footprints in Bihar and other states.
Harish Kairpal, president of Ludhiana MSME association, said , “The meeting organised by the government of Bihar comes at a very crucial time as the industry has suffered a blow after the textile park project at Ludhiana was scrapped. The overall offerings by the Bihar government, like good industrial infrastructure, capital subsidy, loans with very low rate of interest, interest subvention and special incentive package for micro and small enterprises, really more lucrative as compared to the ones available in Punjab. Another major upside of investing in Bihar is that there is ample manpower available for textile and garment sector, which means overall it is good investment. So, in case the Punjab government does not announces anything concrete about the future of the proposed textile park soon, businessmen looking to expand their business will definitely opt for Bihar as preferred destination.”
Sandeep Poundrik, principal secretary, industries department, made a presentation on the prospects of the industry in different sectors in Bihar. “Our department is committed to ensuring industrialization in the state, and we are striving to improve the environment of the industry in the state. All possible incentives that we have promised will be given on time,” Poundrik said.
Three events in 4 days. After Investor Meets in Hyderabad on 23rd and Ludhiana on 25th, we will meet the prominent garment exporters of the country in Delhi today. The event is organised with support of Apparel Export Promotion Council (AEPC). pic.twitter.com/gu1bSojGws
— Sandeep Poundrik (@SandeepPoundrik) July 26, 2022
“More than 30 companies from textile, fast-moving consumer goods (FMCG), automobile and other sectors participated in the investors’ meet. They expressed their intention to seriously consider the possibility of making investments in Bihar,” Shahnawaz said.
The representatives of some of the prominent textile companies who participated in the meeting included Kamal Oswal, chairman, Nahar Group; Anup Vector, CMD, Cremica; Sanjeev Garg, CMD, Garg Acrylics group; Gagan Khanna, CMD, Arisudana; Deepak Kalra and Sanjeev Kalra of Deepak Fastners and Gautam Munjal, CMD, Satyam Auto Industries.
Apart from the textile companies, prominent firms from other sectors, included Vardhman group, ST Cottex, Nahar group, Sportking, Saluja Enterprises, Arisudhana group, Longowalia Spinning and others.