Taiwan to invest in food processing, IT sector in Punjab

Chandigarh/July 12
Taiwan will invest in food processing and Information Technology Sector in joint venture with Punjab government as its entrepreneurs could replicate their success story in agrarian state.
CK Tien, the representative of six member delegation of Taipei Economic and Cultural Center in Delhi announced this here on Friday after a meeting with Punjab’s Chief Minister Parkash Singh Badal while showing interest for making huge investment in the food processing and information technology (IT) sector in the state.
Tien said that Taiwan had age old ties with India that spans over a period of 150 years. “Taiwan had a well knit network of food processing and IT industry and the entrepreneurs there in these spheres could replicate their success stories in Punjab as there was huge potential of growth in both IT as well as agro-processing industry,” Tien said.
Meanwhile, Badal assured the delegation that the state government will provide all possible assistance and cooperation in setting up joint ventures especially in food processing as Punjab had a strong agriculture base being pre-dominantly as an agrarian state.
“Likewise, state lucrative an investor-friendly investment policy will also help the prospective industrialists and investors to invest in Punjab which had a bright future besides, now the state was being looked at as the most preferred investment destination not only in the country but across the globe also,” Badal said.
Taipei delegation also met Food and IT Minister Adesh Partap Singh Kairon at Punjab Bhawan this afternoon and further discussed the modalities for planning investments in IT and food processing sector in view of the incentives in the latest investment policy which had not only assured handsome returns on the investments by the investors but also taken care of all sorts of requisite permissions/sanctions for setting up of industrial units on fast track without any hassles.
Kairon also informed the delegation that they will be entitled for far-more liberal concessions on the food processing units according to the latest investment policy with an objective to promote the state’s ambitious program of agriculture diversification.
Tien assured the Food and IT Minister that they were planning to set up electronic city in India but shown keen desire to set up the same in the upcoming IT hub at Mohali following their detailed deliberations with both Chief Minister and IT Minister.
Likewise, he also expressed his interest to make lot of investment in food processing as they were already globally acknowledged as a key-player in the ‘Noodle’ manufacturing industry especially in China and now they were seriously contemplating to enter India particularly in Punjab for this industry as the state was the major producer of wheat and rice.