Chandigarh is the first planned city of India. It is the capital of both Haryana and Punjab, which is a first. It is highly developed and indulges in a lot of commercial and business activity. It has a strong transport network, great educational facilities and is lined with industrial townships. It also is an intermediary link to states such as Haryana and Punjab. All these factors make it a very lucrative investment option.
The real estate sector is one such area that is great for foreign investment. All buildings are designed on the basis of new and modern architectural principles. With growth in the IT sector in Chandigarh and more industries being set up, this sector is very promising and offers much scope for investment.
Chandigarh is also a popular tourist destination and has a very rich culture. The Sukhna Lake and Rock Garden are major attractions. It is also a gateway to famous pilgrimage sites in Punjab, Himachal Pradesh and Haryana. In addition it is also a very clean and green city. Thus, the tourism industry offers great scope for foreign investment.
The software and IT industries are also growing in Chandigarh. It has a large base of skilled professionals which is a plus for the IT industry. In addition, the policies of the government have also encouraged software companies to set shop in Chandigarh.
The Chandigarh administration has started the C-TOSS program; i.e. the Chandigarh Training on Soft Skills to improve the IT skills at the school and college level. The government also has initiated e-governance in order to improve its efficiency.
The infrastructure and amenities have driven the IT growth in this city. With, the IT industry expanding throughout India, it offers great scope for foreign investors.
The policies of the Chandigarh government are a great stimulus for foreign investment in the Biotechnology sector. It aims to make Chandigarh a biotechnology hub. To facilitate this it has provided many benefits to biotech companies. Some of them include setting u 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.
It also has many other industries such as food processing, metal and mining and machinery setups which offer growth potential. Being adjacent to agriculture hubs such as Haryana and Punjab makes this sector lucrative for foreign investment.
The education sector also offers scope. The relaxed FDI norms by the government are a further boost to this industry. The government of Chandigarh also offers incentives to universities and colleges dealing in IT and biotechnology sectors. This is because it aims to have a large base of skilled professionals for these evolving sectors.
Thus, the advantages of investing in Chandigarh are its excellent set up, skilled labor, infrastructure and natural resources. In addition, the friendly policies of the government are a boost to foreign investment. So, foreign investors can look at this city for their investment purposes and reap benefits.