Punjab has emerged a preferred investments destination for information technology owing to its strong telecom infrastructure, IT-compatible power policy, a spotless labour history and above all the quality of life in state. This is the finding of a study conducted by Ma Foi Consulting Solutions, on behalf of Punjab Infotech.
?After Mohali, Punjab is developing IT parks at Railmajra near Ropar and at Rajpura near Patiala and the response from prospective investors is overwhelming,? said Manoranjan Kalia, Punjab?s industry and commerce minister.
?We are in process of acquiring land at Rajpura while expression of interest has already been invited for Ropar IT Park, he added?.
At this stage, Punjab felt the need for commissioning an independent survey to know the pulse of prospective and existing investors, he said.
In its bid, he said, to align mandate with needs of investors, Punjab Infotech commissioned Ma Foi Consulting Solutions to conduct thus study. Two groups of investors were studied as part of survey including existing investor organisations with operations in Punjab and potential investor organisations that have operations in other parts of India. Survey was conducted using one-on-one discussions technique with either head of investor organisation or one of his direct reports.
The minister told that ?Ma Foi is a major international consultancy company having presence in 44 countries across the globe and the findings are of an extensive ?Investor Perception Study? conducted in the state?.
Punjab Infotech is the nodal agency of Punjab government meant for attracting, servicing and retaining knowledge sector organisations in state.
Kalia told FE that Punjab is on growth trajectory and he hopes software exports from Mohali region would cross Rs 600-crore mark during 2010-11.
Over 50 existing investor organisations and 150 potential investor organizations were covered between September 2010 and November 2010. Kalia revealed that seven out of every ten organizations surveyed had expressed interest in looking at Punjab for expansion of their business. ?About 71% of investor organisations felt that Punjab has good visibility amongst IT / ITeS organisations because of number of similar organisations in Mohali,? he added.
?Another major factor contributing towards IT investors keen to invest in Punjab is the state?s clean labour history. A whopping 78% of respondents felt that positive labour history is conducive for business,? Kalia said. Potential investor organisations are appreciative about power policy that exempts IT/ITeS organisations from statutory power-cuts and exemption from electricity duty for five years.