Chandigarh: A preferred location for National and International investors

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Chandigarh: A preferred location for National and International investors

Chandigarh is one of the cleanest and safest cities in India. Low crime rate and high social stability make Chandigarh a preferred location for enjoying a good quality of life. It is also one of the greenest cities of the country with approximately 1400 nos. green belts, parks and gardens. The location of Chandigarh as the regional centre of the adjoining states of Punjab, Haryana and Himachal makes this city the focal point of political and bureaucratic activities too.

Being a planned city with prestigious educational institutes and modern high class amenities, Chandigarh is highly developed and encourages a lot of commercial and business activities in and around the city. It is the most preferred foreign investment destinations in India. The budding IT sector, biotech industries and agro-based services makes it the perfect spot for attracting foreign investment. The policies of the government are such, so as to encourage education and training in the aforementioned sectors, hence generate more employment opportunities for its residents.

In its endeavour to make Chandigarh the epicentre of growth and development, the administration aims to launch a well-planned programme that would include:

Biotechnology Incubator Facility: Prominent names in the Biotech industry would help in setting up the facility that would be used for testing of new products and their assessment on the basis of their economic feasibility.

Bio-informatics Facilities: After establishing the facility, the next step would be to set up common testing facilities for applied research. The leading institutions of Chandigarh would collaborate on this to establish cells for research and exchange of information using computer software.

State of the Art Research: The research facility would aim to provide a safe environment to the industry to work with highly pathogenic microbes. This would be a part of the Biotech Incubator.

Consultancy Services Cell: Scientists and biotech industry experts would provide complete, accurate and genuine consultation in the field.

Identifying Business Potential: National institutes would identify product-oriented products that would enhance and facilitate business development.

Facilitation Committee: Information regarding Biotech Policies of the Administration, a committee of officials would help to expedite all clearances required by researchers and business firms.

Not just that, Chandigarh administration has also given impetus C-TOSS (Chandigarh Training on Soft Skills) – a program that focuses on providing basic skills at school and college level. The government also provides incentives to colleges and universities offering IT and biotechnology courses. This would help create a large base of skilled professionals for these mushrooming businesses. This is one of the biggest factors that are currently attracting big business players towards Chandigarh.

In fact, earlier this year at the World Economic Forum held at Davos, Switzerland, Punjab projected itself as the most preferred investment destination. The delegation from Punjab in its meeting with S. Iswaran, Singapore’s minister of communications and information focused on enhancing infrastructure facilities in Punjab. The minister agreed to help the Indian state for the urban-planning initiative by engaging Singaporean government owned infra company Surbana Jurong for its upcoming project.

Not just foreign funding, local businesses are also continuously expanding their operations and investments in Chandigarh.  Surya Pharmaceuticals aims to bring international medical products to the country. The company plans to invest Rs 500 crore to build a Greenfield integrated project for the manufacture of Active Pharmaceutical Ingredients (API) and formulations. The company is also looking at purchasing land in Mohali district for the construction of a new manufacturing facility.

Therefore, with the ever-expanding business facilities in and around Chandigarh, coupled with government incentives and offerings, it is safe to assume that the city will be a benchmark for economic prosperity in the times to come, and WTC Chandigarh will play a pivotal role in driving the growth ecosystem. A symbol of prosperity that already has its presence in 326 cities and 89 countries, it has the largest network of office complexes and intellectual capital that helps in promoting trade further.

Bringing global amenities to India, WTC Chandigarh offers premium spaces under three segments: Office Space, Retail and Suits. With this, WTC Chandigarh is set to become the ultimate destination for thriving business activities.

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