Chandigarh: A Budding Global Business Destination

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CHANDIGARH: A BUDDING GLOBAL BUSINESS DESTINATION

Indian IT and ITeS have mushroomed all over the world, putting India on the global map as the number one sourcing destination. Approximately 55% market share of the USD 185-190 billion global services sourcing business in 2017-18 is owned by India, making it the digital capabilities hub of the world. Around 75% of global digital talent is driving the country forward.

In 2017-18, the IT & ITeS industries of the country witnessed a growth of USD 167 billion and exports from the industry increased to USD 126 billion. India saw a massive growth in domestic revenues, including hardware, which today stands at USD 41 billion. Looking at the current scenario of growth, it is expected that the IT sector of India will keep flourishing at a colossal rate.

Contributing heavily in the cycle of growth and development is the state of Punjab, with the presence of more than 150 registered units in the field of software development, cloud computing, website development, business intelligence etc. It has seen no lockouts or strikes in the past decade. Moreover, Punjab is ranked 3rd in India, w.r.t Educational Development Index by the United Nations, where more than 6000 students are graduating in IIT and related fields.

A prominent epicentre of growth in this fast-developing state is the metropolitan area of Chandigarh-Mohali-Panchkula, which collectively forms a tri-city. With an International airport at Mohali and a well-connected network of railways, the city features 4/6 Lane Highways with 100% road connectivity. The area has dedicated Eastern and Western Freight corridors and provides excellent cargo handling facilities with 5 Inland Container Depots (ICDs). A multimodal logistic park is also under implementation.

Furthermore, Chandigarh offers world class amenities like international sporting venues, leading healthcare facilities and has the presence of top-tier shopping brands, which are available in world-class malls. Low crime rate and high social stability make Chandigarh a preferred location for enjoying a good quality of life. In 2018, Chandigarh was ranked 5th in the Ease of Living Index and ranked 1st among all the Union Territories.

Software Technology Parks of India (SPTI), Mohali has played a pivotal role and has contributed in the economic expansion in the zone. The State-of-art network operations centre is housed in green building with round the clock services. More than 150 are operational and provide employment to over 35000 professionals. Established in 1998 with exports sizing INR 4400 Cr., the centre, today, provides world-class facility in areas of artificial intelligence, machine learning and data analytics.

Keeping in sync with the growing demand for state-of-the-art office, retail and residential spaces, WTC offers high standards of infrastructure and a powerful fabric of commerce that runs through 326 cities and 89 countries. From Fortune 500 companies to startups, WTC houses more than one million businesses across the globe. Thanks to its sophisticated and special purpose facility, World Trade Center is the preferred location for International and national trade shows, conferences, seminars and meets.

The demand amongst global business networks to connect at a local level, at the nucleus of evolution and progress has brought WTC to Chandigarh. Owing to the above-mentioned factors and the promise of providing Grade-A buildings, WTC Chandigarh is attracting major global business players. Not just the already existing IT sector, Chandigarh is expected to see a major boost in new sectors such as Biotech and Agro-based services. It is the current favourite of investors that are looking to explore opportunities in the rapidly expanding economic market of India.

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