A city of immaculate planning and modern architecture, Chandigarh is the first planned city of India, along with Mohali and Panchkula, forms the Tri-City, with a combined population of over 2 million.
With a literacy rate of 86.77% and a national average per capita income of 1.82x, this location features 1st in the human capital development index in the country. It also ranks 1st in the Human Development Index in the country.
A blooming and affluent city, Chandigarh is a great setup for businesses, and indulges in a lot of commercial and business activity lined with industrial townships and is a catalyst to regional and infrastructural growth. Let’s find out why.
• Superior Quality of Life: The Tri-City is popular for its low crime rate, high social stability and best of educational, health and recreational facilities in the country. Chandigarh has a GDP of INR 38, 806 Crores at Current Prices and per capita income of 2.32 Lacs evidence of a prospering business ecosystem and customers’ buying power especially for retail sector.
• Abundant Skilled Talent ready for Industry: With a plethora of renowned colleges, this region offers a vast pool of highly skilled talent in business administration, technology and hospitality.
• Robust Infrastructure for Industry: The backbone of a successful business district, this region ensures surplus and 24×7 affordable power topped with excellent connectivity to Delhi, Haryana, Punjab and Himachal Pradesh.
• Competitive Costs: Absence of high wage inflation, operational and real estate costs proves to be advantageous to this landmark.
• Investment friendly Policies: These government policies provide a favourable climate for innovation and creativity and is supported by government and business bodies like CII and FICCI.
Chandigarh – An excellent destination for foreign investment
Being a popular tourist destination with an extremely rich heritage, Chandigarh offers great scope for foreign investment. In fact, it has the 8th highest FDI inflows in India.
The prominent growth of software and IT industries along with the promising policies of the government which encourage software companies to set up shop in the area, offer great scope for foreign investment and a promising future for the Tri-City.
Its excellent set up. Skilled labour, infrastructure and natural resources, provide an inviting opportunity to foreign investors to come, invest and reap benefits manifold.
WTC and the Future of Chandigarh
The World Trade Centre Association is a name that has become synonymous with business growth and development across the world, with a powerful fabric of commerce that runs through 330 cities and 100 countries, connecting 1 million businesses.
In order to accommodate all these lucrative opportunities, the World Trade Center, Chandigarh is coming up, and has proven to be a major catalyst to the economic growth of the region. Bolstering strategies to develop export-oriented economic zones by attracting foreign business and multinational companies, the services offered by WTC Chandigarh are continuously improving the local business competitiveness and also increasing foreign direct investment inflow. Their familiar professional relationship with other WTC members have in turn ameliorated both Chandigarh/Tri-City region and the global business community. Where, on one-hand it has been the in-bound access point for WTC members and businesses around the world to connect with the local business community, on the other hand it has been the outbound channel for local businesses to get direct access to the global market.
This Tri-City is increasingly thriving into an ecosystem which helps businesses, be it Fortune 500 or mere start-ups by providing opportunities of networking, collaboration and mentorship.