Govt to award best-performing MSMES in state

CHANDIGARH : State MSME Awards will be conferred on the best performing micro, small and medium enterprises in the state at the Punjab Investors’ Summit to be held in Mohali on December 5 and 6.

Eighteen awards will be given to industries in two categories — micro and small enterprises and medium enterprises in nine sectors, including agro and food processing, automobiles and auto parts, textile, engineering, pharmaceuticals, information technology and electronics, sports, hand tools and leather.

Punjab bureau of investment promotion (PBIP) chief executive officer Rajat Agarwal said, “Companies will be selected on the basis of their business growth, investment in plant and machinery, direct employment, turnover, direct exports, product quality, credit ratings and quality certification.”

The department has already invited online applications from MSMES.

CREDIT TO BE GIVEN TO ENERGY SAVERS

He said due credit will be given to units that have adopted energy saving measures, focused on employee welfare and promoted women’s participation.

Only the enterprises that have been in continuous production for the last three years and have a permanent small scale industry (SSI) registration under the MSME Act, 2006, will be considered. Each awardee will receive a cash prize of ₹1 lakh and a certificate.

‘MSMES, NOT MOUS, TO BE FOCUS OF SUMMIT’

Agarwal said the MSME sector will be the focus of the investors’ meet.

“The government has resisted the temptation to focus entirely on big ticket international investments and has instead taken the bold step of internalising the state’s efforts to support micro, small and medium enterprises through industry partnerships, which can help change the trajectory of their growth,” he said.