SUCCESS: Punjab and Guangdong to set up joint ventures

Chandigarh, October 21, 2012: Punjab Industry and Commerce Minister Anil Joshi woos the Chinese investors to invest in the Hand tool sector in Punjab during his visit along with the leading industrialist of Punjab to the 112 edition of Canton Fair at Guangzhou which is one of the largest international fair of the world.

Disclosing this here today, Joshi said that delegation of Punjab get a great boost as authorities from Guandong has shown a keen interest in setting up joint ventures in the field of Light Engineering Products and Textiles. He said that the department of Foreign Trade and Economic Cooperation of Guandong province would agreed to send a delegation to Punjab in January 2013 to explore the possibility of investment in Punjab.

Joshi said that although Gujrat has been wooing Chinese investors and it was the first time that a serious effort has been made by the Punjab Government as Guandong has also a largest hand tool industry like Punjab. He said that to understand that appropriate technology concept in all its nuances, delegation visited the Dong Liang Tools Industry Co .Ltd, which was using friction welding and square cutting machines equipped with highly modern technology, which can leads to six time increase in the production at Punjab.

He said that industrialist from Punjab has seen the functioning of huge technologically advancement in light engineering products, which would help them to upgrade their units with latest technology back home. On the request of Mr. Joshi, Mr. Ivy Sun of Bereau of China International Small and Medium Enterprisers has also agreed to lend technical expertise for organizing such fairs in Punjab at Ludhiana, so that the Companies across the globe could exhibit their products in Punjab.

Liang Guixuan , Dy Director General of Department of Foreign Trade and Ecnomic Cooperation of Guangdong  Province and Yu Jinfu, Director Foreign Trade Relations has extended full cooperation to Joshi to provide new technology to Punjab.

The industrial delegation included  Vikas Partap, Secretary cum Director of Industries Punjab,  Sanjiv Bawa Executive Director PSIEC, Ajay Goswami  from Alay Tools,  Narinder Singh Saggu Hind Pumps, Vijay Chaturath from M/s Inder Industries  and Tajinder Singh of Bhasin Metal Industry.