PUNJAB ALL SET TO WOO IT INVESTORS

Ruchika M. Khanna, Chandigarh
The Tribune

With the growth in the information technology (IT) sector remaining static despite global meltdown, Punjab is offering a slew of incentives to woo the IT biggies, which themselves are looking at tier-II cities and states for their expansion. From offering land at concessional rates to promises of uninterrupted power supply, providing infrastructure to allowing housing units within IT complexes, the state is hard selling itself as the next best bet.

S.S Channy, principal secretary (industries) said the state had been discussed as the next preferred IT destination during the IT conclave held at New Delhi last month. “With the choking infrastructure in the existing tier-I IT destinations, the companies are looking for an alternative. We have offered to give land at concessional rates to the companies willing to invest in Punjab.

“Chunks of land in Mohali, Ropar and Kapurthala are available with us that will be offered to these IT companies. Some companies like TCS and Infosys have envinced interest in setting base here,” he said.

It may be noted that the sky-rocketing land prices in Mohali and its periphery was one of the reasons why the IT companies were not keen on setting base here. But the promise of the government allotting land is most likely to see a huge turn-out of companies willing to invest in the state.

Punjab has also offered to provide uninterrupted power supply to these companies without charging extra. Generally, other states are charging 40-60 paisa per unit as additional costs to providing round-the-clock power.

Officials agree that Punjab being a late entrant in IT space needs to create a brand image to attract huge investments in the IT sector. “By offering these incentives, Punjab would be a front runner in attracting investment in the IT sector,” added Channy.