IT firms prefer Punjab as investment destination: Survey

CHANDIGARH - Punjab has emerged as a preferred destination for investments in the field of Information Technology (IT) due to its infrastructure and high quality of life, an investor perception study showed Thursday.

The survey was conducted by consultancy firm Ma Foi Randstad on behalf of Punjab Infotech, a nodal agency for facilitating IT industry in the state.

A total of 200 IT companies were part of the study.

Seven out of every ten organisations surveyed have expressed interest in looking at Punjab for expansion of their business. 71 per cent of investor organisations felt that Punjab has good visibility amongst IT organisations, Punjab’s Industry Minister Manoranjan Kalia said here after releasing the survey report.

A whopping 78 percent of respondents felt that positive labour history is conducive for business in Punjab, he added.

The study revealed that potential investor organisations were appreciative of power policy that exempts IT organisations from power-cuts and electricity duty for five years.

As many as 82 percent organisations said telecommunication infrastructure for IT sector and other factors like transportation were very helpful in setting up a venture in the state. Quality of life in the state scored a high 77 percent, making it a major contributory factor for attracting investors.

Ram Kumar, representative of Ma Foi, said: The survey was conducted using one-on-one discussions technique with either the head of the organisation or one of the top officials. We have covered 50 existing investor organisations and 150 potential investor organisations between Sep and Nov 2010.