Punjab Govt To Strengthen Agri Value Chain To Strengthen Agri Sector

Punjab's corporate sector, including banks, has developed expansion plans ranging from bolstering self-help groups (SHGs) to investing in the agro-value chain. The efforts will help to increase the income of the farmers as well as strengthen backward integration.

IndusInd Bank, which was supported by Hinduja, has set aside a specific amount for microfinance. The According to Rajya Sabha Member Vikramjit Singh Sahney, “Hinduja Group stated that the bank has set aside Rs 2,000 crore for microfinancing, particularly for women entrepreneurs and self-help groups, at the Progressive Punjab Investors' Summit in Mohali. They also committed to providing infrastructure for the whole agribusiness value chain, such as tiny cold storage facilities for small farmers. To prevent stubble burning, the bank will also finance balers and happy seeders.”

The MP said that the Lulu Group, a large retailer based in the UAE, would invest in Dera Bassi's agri-value chain. According to Sahney, "the state is ready to attract significant investment in the agri value chain for preservation, grading, and sorting of fruits and vegetables." Sahney also stated that the processed produce would be sold through the Lulu Group's more than 230 hypermarkets and shopping centres in 22 countries.”

The Lulu Group would also construct a massive cold chain facility, with a total investment of Rs 150 crore. For this, the group has already purchased 40 acres of land.

According to the MP, the Agricultural and Processed Food Products Export Development Authority (APEDA) was planning to establish Basmati Rice Export and Pesticides Research Centre in Tarn Taran.

Furthermore, the Hinduja Group has expressed interest in manufacturing electric vehicles in Punjab, as well as opening a driver training institute in collaboration with the government.

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