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Business and Finance in Chandigarh

The beautiful city of Chandigarh is not only limited to offering enthralling natural views, exclusive markets, cinema halls and other forms of entertainment. Chandigarh also means serious business, already acclaimed as being the best planned city of the country Chandigarh is soon going to top the list of highest GDP contributors to the economy of India. Known as one of the richest states in India Chandigarh is home to a number small, medium and large scale industries. The business and financial scenario in Chandigarh is flourishing because of the numerous investors who have found Chandigarh a suitable place for investment.

Serving as the capital of two provinces Punjab and Haryana, it is but natural that most of the commoners will be engages in government jobs. The major source of income for a chunk of the population is through government jobs and the second being the innumerable industries in Chandigarh. Blessed with favorable climatic conditions, cheap skilled labor, technology and a host of other resources Chandigarh favors the following industries; paper, basic metals basic chemicals, electrical goods alloys and machinery, food products, metal products, , transport equipment and repair services.

Industries in Chandigarh

Currently there are around 2950 Small Scale and 15 Large and Medium Scale industries in the city. A total area of approximately 1450 acres has been allotted by the government for the development of these industries. A large part of these industries consist of ancillary units producing transport components for some of the major industries situated around Chandigarh. The engineering industry is also among the most respected sectors in the state. Some of the other industries include electrical / electronic items, machine tools, pharmaceuticals, plastic goods, sanitary fittings, steel / wooden furniture and food products etc.

IT Industry in Chandigarh

Over the last few decades Chandigarh has grown leaps and bounds as far as the IT industry is concerned. In an extensive endeavor taken on by the government of the state to create a knowledge based society through the optimum usage of Information Technology, the IT industry is one a roll in Chandigarh. A favorable place for the development of Science and technology due to the infrastructure and number of institutions Chandigarh is seen as the next IT hub of the nation.