Mohali Positioned as a Leading Tier-I IT Hub at Progressive Investors Summit
During a dedicated session at the Progressive Punjab Investors Summit, held on Sunday, Mohali was strongly advocated as a premier destination for technology investments, with a focus on attracting Global Capability Centres (GCCs). The event, themed "Punjab Offer: Promoting Global Capability Centres with speed, clarity and aftercare," drew significant participation from investors and industry leaders, highlighting the region's growing appeal in the digital innovation landscape.
Government Vision and Strategic Goals
Addressing the gathering, Seema Bansal, Vice-Chairperson of the Punjab Development Commission, outlined the state government's ambitious plan to develop Mohali into a Tier-I city within the IT sector. She emphasized that several manufacturing companies in Punjab have already started integrating artificial intelligence into their production processes, showcasing the region's readiness for advanced technological adoption.
Comprehensive Incentive Package Unveiled
Additional Chief Secretary for Information Technology, DK Tiwari, detailed a robust set of incentives designed to lure investment into Mohali's IT ecosystem. Key fiscal benefits include:
- A 75% net SGST reimbursement for a period of 10 to 15 years.
- An employment generation subsidy of Rs 5,000 per employee per month, applicable for five years.
- A capital subsidy of up to 20% of fixed capital investment, with a cap of Rs 10 crore.
- 100% exemption from electricity duty for 10 to 15 years.
For Global Capability Centres, the state is offering enhanced incentives, such as an employment generation subsidy of Rs 7,500 per employee per month for five years for the first 10 units. Additionally, rental subsidies of Rs 7 per square foot for IT units and Rs 10 per square foot for GCCs are available, provided there is a minimum of 100 seats over five years.
Non-Fiscal Advantages and Regulatory Ease
Tiwari also highlighted several non-fiscal benefits aimed at streamlining operations for investors. These include time-bound clearances within 5 to 45 working days, exemption from the Punjab Apartment and Property Regulation Act (PAPRA), 1995, for IT parks, relaxed setbacks, and unlimited floor area ratio on roads with a right of way of 45 meters. These measures are intended to create a business-friendly environment that accelerates project implementation.
Industry Perspectives on Mohali's Potential
A panel featuring industry experts, including Dr. Bimal Deep Singh from Infosys, Manipal Dhariwal of Netsmartz, Rajwinder Singh Boparai from US Logistics Private Limited, and Baljit Singh of Guru Nanak Dev Global University, shared insights on Mohali's prospects. The panelists unanimously agreed that Mohali is well-positioned to emerge as a major IT hub, citing factors such as the availability of skilled manpower, the supportive ecosystem of the tricity region, and lower operational costs compared to other metropolitan cities. They emphasized that these advantages, combined with the new incentives, make Mohali an attractive destination for technology investments and GCCs.
The summit underscored Punjab's commitment to fostering digital innovation and economic growth through strategic initiatives, positioning Mohali as a key player in India's IT landscape.
