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Time of India
10-07-2025
- Business
- Time of India
Steely resolve: City to get Rs 2000 cr investment for plant
Ludhiana: Soon after the visit of Madhya Pradesh chief minister, Mohan Yadav, to Ludhiana, a leading industrialist from the city announced his plan to set up a new steel plant here. Right after Yadav courted local industrialists, Sachit Jain, vice-chairman and managing director, Vardhman Special Steels, announced Rs 2,000 crore investment for the plant. During Yadav's visit, several units, including Vardhman Textiles, announced investments in Madhya Pradesh. Voicing concerns about the increasingly volatile conditions at home, with both the government and environmental activists leaving them cornered, local industrialists evinced keen interest in the MP CM's pitch. "We have just announced a Rs 2,000 crore investment in a new steel plant that will come up in Ludhiana," Jain said at a gathering. "This city, with its unmatched energy and dynamism, is the right place to do it," he added. Interacting with industrialists and experts during a discussion on manufacturing excellence organised by the Chamber of Industrial and Commercial Undertakings (Cicu), Jain revealed that the decision was made after a comparative analysis of opportunities in nine states. "The opposition is criticizing this government, saying industry is going to MP for investments but we have just announced that we are going to invest in a steel plant in Ludhiana," he said. Days ago, Madhya Pradesh chief minister Dr Mohan Yadav visited the city pitching an attractive set of investment incentives, ranging from 40% capital subsidy, machinery and labour subsidies and incentives to streamlined clearances and pro-industry infrastructure, among other announcements. The visit sparked keen interest from several business leaders, with some industry associations committing investments and others sharing plans to take delegations to MP.
Time of India
27-05-2025
- Business
- Time of India
Traders visit Samrala port, get hands-on experience of export biz
Ludhiana: Dozens of aspiring exporters took part in a practical training visit to the pristine inland container depot (ICD), also known as a dry port, in Samrala's Bija village recently. The visit was part of an export training programme organised by the Chamber of Industrial and Commercial Undertakings (CICU) to provide hands-on experience and knowledge of the export process to budding entrepreneurs and MSMEs. Many participants said they were learning about exports for the first time. "I had no idea about duty drawbacks, IC dates, or road tap incentives before this," said Paras Kapoor, who runs an auto parts business manufacturing components for trucks and tractors. "I had my doubts about documentation, packaging requirements, and logistics, all of which got clarified on seeing everything here in practice." Participants strongly emphasised the need for the govt to conduct more such training programmes and make them accessible to all businesses. "Such trainings should be free and widely available," said Bhavneet Singh of Sukhbir Enterprises, a Ludhiana-based auto parts manufacturer. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo "Many businesses have export-quality products but hesitate due to lack of knowledge. If we want 'Make in India' to become 'Sell to the World,' we need to educate entrepreneurs." At the Samrala dry port, attendees were shown the entire export workflow, including customs clearance procedures, material inspection protocols, container handling, and interactions with officials and rules. Trainers also explained export schemes, refund processes like duty drawbacks, IC dates, and govt incentives available to businesses. Anuj Saharan, who is into forging business, praised the mix of theory and practice. "Most small businesses don't even know what benefits they're eligible for under MSME export schemes. This training gave clarity on the shipping process, export documentation, and practical do's and don'ts." Several participants shared that they had held back from exporting, despite having quality products, because of the perceived complexity of the system. "There's a fear of the unknown," said another participant, adding, "We've been serving domestic clients only, even though our materials are export-ready. The only thing holding us back was not knowing how to start." Experts conducting the training underlined the vital role dry ports like the one in Samrala play in simplifying exports for landlocked regions, by offering logistics and customs clearance services closer to industrial hubs. Vinod Kumar, the instructor of the exports training programme at CICU, called for a broader push to help local businesses tap into international markets. "The govt must start conducting free exports training to make 'Make in India' go global," another attendee said. "Though there has been focus on exports, but without wide accessible training on importing and exporting, the true potential of 'Make in India' cannot be unleashed," he added. BOX VISIT AN EYE-OPENER I had no idea about duty drawbacks, IC dates, or road tap incentives before this. I had my doubts about documentation, packaging requirements, and logistics, all of which got clarified on seeing everything here in practice Paras Kapoor, who runs an auto parts business manufacturing components for trucks and tractors Such trainings should be free and widely available. Many businesses have export-quality products but hesitate due to lack of knowledge. If we want 'Make in India' to become 'Sell to the World', we need to educate entrepreneurs Bhavneet Singh of Sukhbir Enterprises, a Ludhiana-based auto parts manufacturer Most small businesses don't even know what benefits they're eligible for under MSME export schemes. This training gave clarity on the shipping process, export documentation, and practical do's and don'ts Anuj Saharan, who is into forging business There's a fear of the unknown. We've been serving domestic clients only, even though our materials are export-ready. The only thing holding us back was not knowing how to start A participant
