Thursday, 14 November 2019

Punjab Government Signs MoU With Pumpkart: State’s MSMEs to Take Advantage of E-Commerce

By 121 News

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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