By Tricitynews
Chandigarh 14th November:- A Memorandum of Understanding (MoU)
has been signed by Invest Punjab (Punjab Bureau of Investment Promotion),
Government of Punjab, with Pumpkart - one of the largest Startup from Punjab,
which is all poised to become the first Unicorn from the state. Sibin C, MD,
Punjab Small Industries & Export Corporation(PSIEC) signed the MoU on
behalf of Punjab government and K S Bhatia, Co Founder & CEO, Pumpkart on
behalf of Pumpkart.
Under the MoU the Micro Small &
Medium Enterprises (MSMEs) of Punjab will get the advantage of E Commerce to
both promote and sell their products. Under the MoU many concessions including
discounts on the transaction fees will be given.
The MOU signing took place at Hotel
JW Marriott here and was attended by leading bureaucrats and industrialists
from Punjab. Vini Mahajan, Additional Chief Secretary Investment Promotions and
Industry & Commerce, Punjab was the Chief Guest, while Sibin C, MD, Punjab
Small Industries & Export Corporation was the guest of honour.
Vini Mahajan said that she is happy
to announce the MoU signed with Pumpkart for the promotion of MSME’s in
Punjab. She is here to support and encourage new thinking and enterprises
who dream big. Growth of micro, small and medium enterprises (MSME’s) is our
priority. While the nation and the world have been passing through the phase of
economic recession, Punjab has attracted over Rs 50,000 crore new investments.
The industries in Mandi Gobindgarh are being revived. Keeping in line with the
Make in India programme, we have formulated the Make in Punjab policy. This is
a time to work together. Our focus is on providing jobs to the youth and our
dream is to make Punjab number one once again.
K S Bhatia, Co Founder & CEO,
Pumpkart said that Punjab has more than 2 Lac MSMEs and Pumpkart’s E Commerce
business model would give them a direct access to the domestic market without
adding in any costs. Implementing the MOU in 4 different phases it is targeted
to bring in at least 10% of these MSMEs on Pumpkart’s E Commerce platform in
the next 2 years. These are exciting times for us at Pumpkart. 'P' today stands
for Pumpkart and also Punjab. Our aim is to create a growth story for Punjab
and we will work tirelessly to achieve the objective.
Sibin C. said that MSME sector is the
strength of our state. After this tie up with Pumpkart, now we are looking for
other E Commerce platforms also. He thinks, a lot of awareness is required in
this regard. That is why; the government has been organizing various awareness
camps to underline the need for E Commerce amongst the MSME sector of
Punjab.
On a growth trajectory currently
after securing funding last month, Pumpkart is continuously adding “firsts” to
its portfolio- the MoU with Punjab government being the latest. Amongst the
whole online ecosystem of Punjab, Pumpkart has become the first E Commerce
company to sign an MOU with the Punjab Government.
The event was also graced by the
Chairman of Chamber of Industrial & Commercial Undertakings (CICU),
Ludhiana, Upkar Singh and Gurmeet Bhatia, Former Chairman, CII Punjab, Kumara
Guru DNV, Director(External Relations) of Indian School of Business(ISB) among
many others.
Manish Saini, Co Founder, Pumpkart said
that we have already laid out a well thought out execution plan which is being
implemented. This includes training for MSMEs using E Commerce platforms to
further their businesses. The first of the many workshops to train onboard
MSMEs is starting on November 15th at Ludhiana from whereon the
workshops will move to Jalandhar, Kapurthala, Amritsar, Hoshiarpur and the
other districts of Punjab in Phases.
Kumara Guru DNV said that Pumpkart
is not only about pumps, it has adopted a wide approach towards business. It is
one of the leading start ups in the state and Punjab is always known for the
spirit of enterprise. The benefit of this association will go not only to the
state, but to the whole of the country.
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