ASSOCHAM holds Xelerate North-2021 virtual summit; focus on industrial development

Chandigarh: Xelerate North-2021, a day-long virtual summit, was organized by India’s premier industry body ASSOCHAM. Lauding the efforts of ASSOCHAM in accelerating the pace of development in the Northern states, Himachal Pradesh Industries Minister Bikram Singh said that there is a need to adopt a multi-pronged strategy to take North India’s economy to the next level.

"To further grow its already impressive pharmaceutical industry, the Himachal Pradesh government recently asked the Central government to sanction a ‘Bulk Drug Pharma Park’ for the state that will boost industrialization and generate employment for the people of the state. The state aims to be an herbal state by 2025.” added Singh, while speaking as Chief Guest at Xelerate North 2021’s inaugural session on ‘Public-Private Partnership Holds The Potential To Drive Socio-Economic Growth.’

ASSOCHAM President and MD, Transport Corporation of India Limited, Vineet Agarwal shared that factors such as world-class infrastructure, a good education, and healthcare system are important. However, the presence of a favourable policy environment has been listed as the most essential factor in the ability of a state/country to attract investments across a variety of sectors.

Secretary General, ASSOCHAM, Deepak Sood said, “A variety of projects like highways and industries are being implemented under the PPP mode. The infusion of innovation with emerging trends is of paramount importance for which enabling government policies are needed.”

Amrit Sagar Mittal, Chairman, North Region Development Council and Vice Chairman, International Tractors Ltd, stressed on the need for public-private partnership (PPP) to build a manufacturing and services ecosystem in the region to transition from a largely agrarian economy.

A session with MPs' on the theme charting a favourable policy environment to attract investments across sectors was also held.

Jamyang Tsering Namgyal, MP from Ladakh, said, “With the outbreak of the pandemic the tourism sector in Ladakh suffered a large drop in business activities. Beside this, every year we also see the region mostly cut off from the rest of the country in the harsh winter season. Therefore, to counter such challenges, we are deliberating to make Ladakh a ‘Sustainable Tourist Destination’ so that round the year the region can get business.”

Sunita Duggal, MP, Sirsa, Haryana, said: “There are a lot of opportunities in agro based industries in Haryana as the government is offering various beneficial schemes and subsidies to boost this sector. To expedite the initiatives, we need to raise more awareness as agriculturists or investors hesitate a little to explore new ventures.”

Dharambir Singh, MP, Bhiwani-Mahendragarh, Haryana, said, “There is a lot of scope of fruit and vegetable cultivation in our constituency. Investors can set up any food related industry and reap the benefits of it."

The ‘Xelerate North-2021’ also had dedicated deliberations on North centric topics- India’s hub for Pharmaceuticals and Ayurveda; J&K, Ladakh: Leveraging true economic potential; Chandigarh: Making a Smart City- Improving quality of life and driving economic growth; Punjab: A Preferred Investment Destination; Haryana: The Modernized Investment and Trade Hub of India.