Chandigarh, ‘The City Beautiful’ is a major standout among the most encouraging financial centres of the new, vibrant and promising India. The Tri-city, is on the rise and catching the eye of global real estate developers, companies and investors.
In recent years Chandigarh has been successful in attracting foreign investments in IT, Infra, biotechnology and other agro-based industries. Mohali and Panchkula are well known for IT-enabled services and outsourcing, while biotechnology is becoming favourite with agro investors.
The policies of the Chandigarh government, lower operating costs along with the presence of skilled talent pipelines from nearby educational institutions act as a great stimulus for Start-ups, SME, MSME and giant IT & ITeS conglomerates to moving in and expand in the city. To boost the growth of the software industry, Chandigarh administration has started the C-Toss program: i.e Chandigarh Training on Soft Skills at school and college level. The program also has initiated e-governance in order to improve its efficiency. Along with IT, the administration aims to establish Chandigarh as the rising biotechnology hub in the country. To facilitate this it has provided many benefits to biotech companies. Some of them include setting up suitable infrastructure and policies, provide employment opportunities, and encouraging education and training in biotech fields. It has also invited technology pioneers to Chandigarh and has facilitated networking amongst biotech organizations, and universities and colleges.
Further, the start of an international airport in Chandigarh has created and additional interest in the global and Indian leaders to explore and create new avenues of the growth in the city. Here are some of the major factors that would shed light on Chandigarh’s potential as a rising business destination.
• 1st in Human development index in India
• 1.82x The national average per capita income
• 7th among top 50 IT and outsourcing destination globally
• 97.25% of the population is urban
• Robust Infrastructure for better connectivity
• Superior quality of Life to maintain social stability
• Abundant skilled workforce to deliver quality work
• Lower cost of operational as compared to Delhi, Mumbai, Bengaluru, Chennai, Pune and other establish cities.
All the factors are boding well for the rapidly developing economy of Chandigarh and the Tricity is experiencing a sturdy business growth for the last couple of years.