Monday, October 02, 2023

Punjab CM bats for German collaboration in agri-food processing,textiles , auto components, pharmaceuticals and chemical sector

PUNJAB NEWS LINE | September 14, 2022 05:39 PM

MUNICH(GERMANY):Punjab Chief Minister Bhagwant Mann on Tuesday late evening batted for collaboration with Invest in Bavaria team in agri-food processing, textiles, auto components, pharmaceuticals and chemical sector.

The Chief Minister called on the Invest in Bavaria team at their office in Munich where he was apprised that the State of Bavaria in Germany is known for its automotive industry, biotechnology, chemicals, electronics and electrical engineering, energy technology, financial services and IT. He was informed that around 350 companies from the region have their business ventures in India including Siemens, BMW, Audi, MAN, Adidas, Allianz AG, Munich Re, Airbus, Infineon, Wacker Chemie, Osram, Linde and others. Bhagwant Mann was also told that Invest in Bavaria acts as the Business Promotion Agency of the State of Bavaria and supports companies from Germany and abroad in finding the ideal location in Bavaria for business.

Meanwhile, taking part in deliberations, the Chief Minister showcased Punjab’s strengths in agri-food processing, textiles, auto components, pharmaceuticals and chemicals. He said that there is a huge scope in these sectors along with other various potential areas of collaboration between Invest Punjab and Invest in Bavaria. Bhagwant Mann also showcased Invest Punjab’s one-stop-office model to facilitate investors in Punjab from project ideation and planning to execution and aftercare.

Highlighting the industry-friendly policies of the state government, the Chief Minister said that they are acting as a catalyst to put the state on orbit of high trajectory of industrial growth. He also extended an invitation to Head of Department International Economic Relations, Invest in Bavaria, Dr. Markus Wittmann to attend the Progressive Punjab Investors’ Summit scheduled for February 23-24, 2023 to further strengthen this relationship and explore opportunities for collaboration. Inviting the companies from the State of Bavaria to invest in Punjab, he assured full support and cooperation from the State Government in identifying opportunities for trade, investment and partnerships in the State of Punjab.

Meanwhile, Invest in Bavaria team appreciated Punjab’s single-window system for regulatory and fiscal services and ease of doing business rankings during a mutual exchange of best practices. Invest Punjab and Invest in Bavaria also agreed to cooperate and exchange bi-lateral trade and investment opportunities, promote cooperation in the areas of commercial, industrial and technical exchanges between the companies/industries from the respective regions and explore opportunities for collaboration in research, skill development, training and infrastructure development.

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