Chandigarh facing stiff competition for investment in IT

Chandigarh is facing a stiff competition from the towns like Pune, Mysore, Cochin and Coimbatore to secure a larger pie in the investment in Information Technology sector.

Speaking to Business Standard on the sidelines of third 'e-Revolution', a two day IT Conclave organised by the IT department of Chandigarh and its partners, the president of Nasscom, Lakshmi Naryanan, said that the city has the highest potential of investment in IT sector in north of Delhi due to its natural endowments but lamented the slow pace of infrastructure growth.

He added that entrepreneurs in north should use the information published by the Nasscom and BCG Consulting Group to prepare a framework for innovation in technology for the BPO industry.

According to Narayanan, the burgeoning demand in the IT sector in India can be met only through innovation in technology.

He offered the governments of Punjab and Haryana to have training schools to train the graduates on the contemporary trends in the industry. "Only 25-30 per cent graduates are suitable for jobs and this is a serious area of concern," said Narayanan.

At the same platform, the IT Minister of Punjab APS Kairon reiterated the states' plan to set up Knowledge City in 400 acre at an investment of Rs 900 crore in Mohali. He told that the state government would consult Nasscom in the execution of plan of the Knowledge City to design it according to the requirements of the IT players.

His counterpart from Haryana HS Chatta said that besides Gurgaon, the state took the initiative to set up a 74-acre IT park in Panchkula.

The sagging real estate market in Punjab refrained many players to invest in the region.

Whether 'e-Revolution' conclave will be able to project this part of the country as a suitable location for the expansion of IT sector remains to be seen.