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Punjab emerging as a major investment destination | Punjab is fast emerging as an important investment destination in the Information
Technology sector. There are many IT majors already located in the State and the
Punjab government is upbeat about luring investors by promoting its existing potential.
`Doing Business in Punjab - an IT Investor's Guide' was launched recently. It
is designed to promote Punjab as an IT investment destination and aims to present
an overview of Punjab as an emerging IT/ITes destination. It also gives details
about the growth of IT/ITes industry and procedures and clearances required for
establishing an IT/ITes, Park and Special Economic Zone (SEZ) with the aid of
clear flowcharts. "Our interaction with the IT and IT industries in down south
and elsewhere [informed us] because of the recession everybody is trying to cut
down the cost and so they are looking for tier-2, tier-3 states and cities," said
Manoranjan Kalia, Industries and Commerce Minister in Punjab. To enable IT entrepreneurs
establish and operate their business in Punjab, a `Single Window' service has
also been started by Punjab Infotech. This service will provide a `single point
of contact' to investors for getting clearances and avail of incentives as per
the policy from various departments within the stipulated time period. It will
also provide information on policy initiatives and schemes in the state. In order
to boost IT investment, the Punjab Government is contemplating offer of free land
to IT entrepreneurs, who apply within the stipulated period. "We are coming out
on a focal point at Kapurthala, Jalandhar in which we have marked about 50 acres
of land for the IT industry. We have discussed it already with the Chief Minister
Prakash Singh Badal. He has decided to give uninterrupted power supply to the
IT industry in order to encourage this. Moreover, there was a survey of the world
bank that Punjab has been adjusted at number one, as far as the ease of doing
business is concerned. They did a survey of 17 cities and Ludhiana emerged as
number one investors' destination," said S.S.Channy, Principal Secretary, Industries
and Commerce in Punjab. To promote the entrepreneurial atmosphere in the region,
the State government, in a joint venture with TiE, is setting up an incubation
center. Spread over an area of 12,000 sq ft, the center will be situated in punCom
Technology Park at Mohali. Punjab is committed to encourage self-employability
to young graduates and provide a transit point to IT companies which do not have
their own infrastructure. It will also promote research and development in the
field of software technology. |
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