Indian fastener manufacturer plans to form an industrial cluster in Gujarat

Due to power shortages, rising land costs, and weak local incentives, fastener manufacturers in Punjab, India are currently planning to relocate to Gujarat and initially invest 10 billion rupees in Gujarat to form an industrial cluster. .

Narinder Bhamra, the Indian Fastener Manufacturers Association, said: “We have decided to set up a fastener industry cluster in Gujarat because local smelting, electricity, and automotive industries are widely used in fasteners, and local The government has provided us with attractive incentives."

The annual output value of the fastener industry in Punjab, India is Rs. 50 billion, and the production units include 1,200. Three-quarters of the output is sold in the Indian domestic market.

In addition, the advantage of Gujarat's port is also one of the reasons for attracting Punjab fastener manufacturers to choose to migrate. "Because of the proximity to the port, we can import cheap raw materials from China, and Taiwan will also help us reduce input costs." Bhamra said, "We will initially invest 10 billion rupees. If this industry cluster is completed, it will involve 50-60 fastener companies and cover an area of ​​100 acres."