*SMALL AND MEDIUM ENTERPRISERS TO GET BENEFIT
CHANDIGARH – The Punjab government has setup a Punjab Infotech Venture Fund to attract investment in Information technology and software sector and to help the small and medium entrepreneurs to set up their units in the State.
Disclosing this here today Punjab Industries Minister Mr. Tikshan Sud said that this fund has been set up by Punjab government through its bodies like Punjab Infotech, Punjab State Industrial Development Corporation Limited and Punjab Financial Corporation in association with the Small Industries Bank of India.
He said that primarily this fund had Rs 20 crore and within next two years it will increased to Rs 100 crore. Talking about the main objective of the fund Mr Sud said that Punjab is doing very well in the I.T and Software sector and Punjab export in the IT software has crossed Rs 1000 crores . He said that from this fund financial assistance would provided to small and medium entrepreneurs through soft loans.
He said that besides that Punjab Infotech also signed a MoU with Mumbai based Subhkam Ventures to help out in the fund management. He said that I.T. sector was providing largest employment in India and after Mohali, Punjab is all set to develop I.T. parks in Kapurthala and Railmajra in S.B.S.Nagar. He said that this fund was mainly meant to create large scale investment as well as to widen the sectoral coverage from present I.T. and software sector to other knowledge based sectors.
