Trade expo meet generates biz queries of Rs 319 crore

Tribune News Service

Amritsar, December 9

The two-day-long Reverse Buyer Seller Meet (RBSM) at Punjab International Trade Expo (PITEX) here has managed to generate business queries up to Rs 319 crore.

Over 150 delegates from SAARC nations are participating in the event and Memoranda of Understanding (MoUs) have been signed in various sectors.

Officially inaugurating the five-day expo, state Minister for Industries and Commerce Madan Mohan Mittal said that the RBSM would help build stronger trade ties with SAARC nations.

According to Dr Parveen Rathee, Regional Director, PHDCCI, Chandigarh, the buyer and sellers meet was aimed at promoting bilateral trade relations and strengthening of global economic linkages with the participating SAARC countries.

Afghanistan emerged as the biggest buyer with MoUs being signed in the food processing and packaging, agricultural infrastructure and tools manufacturing sectors.

Bangladesh and Sri Lanka showed keenness to implement Indian agricultural practices and in investing in the food processing industry. “The focus industry for each nation is different. Traders from Nepal and Bhutan made business deals in food-processing units; Bhutan and Bangladesh were keen on business deals with hardware manufacturing industry and sanitary ware; Sri Lanka also signed MoUs with hand tools and machine tools manufacturers,” said sources.

RS Sachdeva, co-chairman, PHD Chambers of Commerce, Punjab, said, “The main objective of the buyer-seller meet is to showcase India’s capability as a reliable supplier of automobile, bicycle, agri-machinery and implements, hand tools, textile, home interiors, healthcare, pharma, medical equipment and sports goods at competitive rates. It will definitely boost bilateral trade relations between the countries.”