The Punjab government has decided to set up a dedicated MSME marketing cell as well as the establishment of a ₹100 crore start-up fund, in a focused endeavour to boost the Micro, Small and Medium Enterprises (MSME) sector and the startups.
The marketing cell will work for forming trade linkages for Punjab MSMEs, said an official spokesperson, giving details of various decisions taken by the Chief Minister Amarinder Singh after two days of deliberations during the Progressive Punjab Investors Summit, 2019.
Seed funding
Giving details of the start-up fund, the spokesperson said it will be set up by the State government in partnership with IKG Punjab Technical University, for the promotion of incubators and providing seed or scale up funding to start-ups. Of this, 25% shall be used to promote scheduled caste and women entrepreneurs.
To encourage non-paddy based agriculture processing sector to wean the farmers away from paddy, thereby saving water and preventing air pollution from stubble burning, the Chief Minister has decided on certain amendments to the GST reimbursement policy for this purpose, said the spokesperson.
