Updated: October 21, 2022 3:16 p.m. STI
Ludhiana (Punjab) [India]October 21 (ANI/PNN): About 34 entrepreneurs from the Micro-Small and Medium Enterprises (MSME) sector of Punjab State have been honored for their immense contribution to the industrial sector during the special conclave “MSME-The Future is Now organized by the Federation of Industrial and Commercial Organizations (FICO)-I AM SME OF INDIA in Ludhiana.
MSMEs play an important role in the economic development of Punjab, especially in the areas of production, exports and job creation. The key to Ludhiana’s rise as a major industrial center in India lies in the expansion of its micro, small and medium enterprise sector. Over the years, Ludhiana, the industrial hub of Punjab, has become synonymous with industrial excellence in the far north of the region.
The city is home to tens of thousands of micro, small and medium enterprises. The inherent entrepreneurial spirit of the people has made Ludhiana a center for the machine tool industry. Ludhiana has also become an important hub for machinery design, development and production. The fact that the city has steadily climbed the ladder of commercial success in the manufacturing sector and has set several industrial growth records in recent years is due to the visionary initiatives of industry bodies, which continually strive to set new standards of excellence.
MSMEs in the post-pandemic era play a dual role as supply units for larger sectors and as major contributors to societal and economic growth.
The aim of this prestigious business event was to bring industry leaders together in one place to chart the course for MSME development in the city of Ludhiana and across the state of Punjab.
Rajive Chawla, Chairman of I AM SME OF INDIA and Mentor of FICO spoke at length on the future of MSMEs in India and shared his thoughts on the potential of MSMEs in Punjab.
As Chawla said, “Punjab state has great potential and it is the perfect time to innovate and create new benchmarks in business.” “As a group, FICO is constantly striving to improve the commercial and industrial sectors. It plans to serve commerce and industry even better in the years to come.”
The special attraction of the event was an innovation from Citizen Group and a special stand from Crystal Switchgears.
Gurmeet Kular, President of FICO, congratulated the members on the 9th Annual Session and thanked the esteemed guests for their exemplary work during the Covid pandemic.
Kular said, “The next decade (2022-2032) belongs to MSMEs”. “FICO collaborated with MIBF for the Mumbai International Bike Fair, and with Tata Solar for solar power projects and ACMA for Gujarat Cycle Expo.”
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