IT cos may get free land in Punjab to create new jobs

Written by Swarleen Kaur | Chandigarh | Updated: Aug 31 2009, 05:54am hrs
Punjab, considered as a late entrant in the information technology (IT) arena, is considering an innovative scheme of offering land for free to the industry in the sector if it promises to create adequate employment opportunities in the state.

During the last decade, the state has attracted investment worth Rs 718 crore in the IT sector.

As a remedial measure, the state has come up with a proposal to create a land bank for the IT sector, for which the zoning plan will be laid out.

Talking to FE, principal secretary, industries department SS Channy said, After identifying land for the purpose, we can introduce the scheme of offering it free to the IT industry. The industry will be given a target to create employment within a specified time frame. The details of the scheme will be worked out shortly.

The proposed IT incubation centre situated in PunCom Technology Park in Mohali covering 12,000 square feet will get operational within two months, Channy said.

The Centre will offer amenities like ready-to-move infrastructure, plug and play facility, common conference and other IT and ITES communication facilities.

The project is coming up in collaboration with The Indus Entrepreneurs (TiE). The state along with TiE, will assist the incubatees in providing financial assistance via venture capitalists, commercial funding and loans, technical assistance like expert counselling to start-up entrepreneurs.