Punjab governmentt inks Rs 455-cr worth MoUs with industries

The Punjab government has inked MoUs worth Rs 455.34 crore with nine prominent industries during a one-day Punjab Apparel and Textile Conclave in Ludhiana.

The companies which signed the pacts are Vin Gon India Pvt Ltd (Rs 150 crore), Fateh Alloys Pvt Ltd (Rs 110.84 crore), First Reliable Industries (Rs 50 crore), Aribha Knitwears (Rs 50 crore), Rotaxa Auto India Pvt Ltd (Rs 39.5 crore), Fateh Alloys Pvt Ltd (Rs 25 crore), Mount Meru Industries (Rs 10 crore), Ferro Sona Garments Pvt Ltd (Rs 10 crore) and United International (Rs 10 crore).

Cabinet Minister for Industry and Commerce Sunder Sham Arora, while urging industrialists to invest in the state, added that the state government is committed for the welfare of industrialists.

Meanwhile, Industry and Commerce Minister Sunder Sham Arora said all VAT refunds worth crores lying pending with the state government for over a year will be cleared by December. In July, Ludhiana industrialists will get Rs 300 crore as VAT refunds.

Image Credit : punjabtribune.com

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