Chandigarh: The powerful magnet for businesses

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Chandigarh: The powerful magnet for businesses

The rapid growth of Indian IT and ITeS has placed India on the global map as the number one sourcing destination. Looking at the rate of colossal rate of development, it is expected that the IT sector of India will keep booming. A prominent focal point in this fast-developing industry is the tri-city area of Chandigarh-Mohali-Panchkula. With an International airport at Mohali and a well-connected network of railways, the city features 4/6 Lane Highways with 100% road connectivity. Its proximity to Delhi is another advantage that makes Chandigarh a lucrative choice for investors, businesses and people.

In fact, it is the Chandigarh administration planning, along with the resourceful and hardworking attitude of the people of Punjab that today it is home to flourishing small and medium scale enterprises. And in its endeavour to drive business and growth opportunities in the state of Punjab further, the state government offers certain benefits to the investors.

1. Development of Infrastructure: The state intends to bring Industrial Parks and Industrial Estates under one roof, and provide them with world-class amenities. It aims to develop state-of-the-art infrastructure and back it with robust policies for its maintenance.

2. Power Supply at low rates: for any industry to function smoothly, reliable and cost-effective power supply is a must. Realising that power uninterrupted power supply can enhance the productivity, efficiency and competitiveness of its industries, the state intends to provide power to the industries at an affordable and fixed tariff for 5 years.

3. Development of MSME enterprises: As stated earlier, Punjab is the hub for micro, small and medium scale units. By providing employment to its local population at lower capital cost and efficient resource management, these industries play a vital role in reducing regional imbalances. In order to make it a highly dynamic and buzzing sector, the state intends to build suitable capacity to give impetus to the MSMEs.

4. Strengthen Startup and Entrepreneurship: To promote startup and entrepreneurship culture in the state, and facilitate networking between support organizations and entrepreneurs, the state intends to set up a dedicated organisation to push strategy planning and implementation in this sector. To become market leaders in innovation and development, this would be a crucial step.

5. Focus on Skill Development: Innovation without skill development will be of little consequence. In order to make Punjab a globally competitive market, skill development and up-scaling of existing workforce is of paramount importance. The state intends to converge various skill training schemes to foster scale and synergy.

6. Ease of doing Business: A ‘BusinessFirst’ portal is under planning to provide all regulatory services and fiscal incentives to the businesses through an integrated platform. This will minimise confusion as a single point of credible information sourcing point will be established. The State intends to set up District Bureau of Enterprise in order to facilitate a wide range of services.

7. Fiscal and Non-Fiscal Incentives: In order to get new investors on board and enhance the development of existing industries, the state intends to offer a variety of fiscal and non-fiscal incentives. Furthermore, the state has given a package of relief measures or incentives for the revival of sick industries. Anchor investors and Extreme Border Zone have been offered special incentives in the policy.

8. Promote Stakeholder Engagement: Identification of key stakeholders from the State and Central government, industry leaders and industry associations, academic institutions and development agencies and foreign government agencies that would require continuous engagement for the policy to become a success.

These factors would empower the business culture of Punjab, thereby making it more conducive for investors to consider Punjab, specifically the Tri-city, to invest in. Considering the growth pattern the state is expected to witness, the World Trade Center is all set to make its mark in this upcoming state. A symbol of prosperity that already has its presence in 326 cities and 89 countries, WTC is the right platform that connects virtually every business hub across the globe, since it has the largest network of office complexes and intellectual capital that helps in promoting trade further. Fortune 500 companies and various other large, medium and small enterprises and startups are a part of the WTC family that houses more than a million businesses and offers international connectivity.

Thanks to its sophisticated and business enabling facilities, World Trade Center is the preferred location for International and national trade shows, conferences, seminars and meets. The facilities at WTC Chandigarh are centrally air-conditioned and offer large linear floor plates with the flexibility for making lockable offices. Large green terrace offices on inter-median floors as well as multi-use recreation terraces with spaces for fitness and festivity form a unique feature of this property. Along with being all day-lit offices glazing with non-glare orientation, WTC Chandigarh offers exclusive view of the beautiful skyline of the city.

Bringing International amenities to India, WTC Chandigarh offers premium spaces under three segments: Office Space, Retail and Suits. With an eight screen multiplex, 16,000 sq. ft. food court and an additional open-air plaza for activities and events, WTC Chandigarh becomes the ultimate destination for your leisure activities too. Loading docks, dedicated service access and shafts for Food and Beverage units are an integral part of the design of World Trade Center retail spaces.

Keeping in mind the concept of work-life balance, WTC Chandigarh brings home closer to the office. The biggest names in the corporate world get to share the same address – professionally and residentially. Therefore, WTC will be a prominent growth factor in the success story of Chandigarh.

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