Boost to Punjab's IT sector, private firms commit Rs 770 cr investment in FY22

Vijay C Roy

Chandigarh, June 17

Despite economic slowdown due to the Covid pandemic and other factors, the IT and electronics industry in Punjab witnessed a significant growth in the financial year 2021-22, attracting investments worth Rs 770 crore, an increase of nearly 67 per cent over the previous year.

Among major IT companies that showed interest in the state are Japan-based Meritech Software, Xeam Ventures, Ortus Infotech, Virtuoso Netsoft and Talwar & Talwar Consultants.

Besides, Dixon Electro Appliances, a joint venture between Dixon Technologies and Bharti Group’s Beetel Teletech, is setting up an electronics manufacturing plant in Ludhiana with an investment of more than Rs 200 crore. The company has got production-linked incentive (PLI) approval under the Government of India’s PLI scheme for the telecom sector and has significant growth plans in the state.

Continental Devices (CDIL), which manufactures semiconductor components and offers services to international companies, has also invested in the state for its expansion and modernisation.

Punjab-based Allengers OEM, manufacturers of X-ray tubes, flat panel detectors, monitors, high-voltage cables and exposure switches, is also expanding its capacity in the state.

Dilip Kumar, Principal Secretary, Department of Investment Promotion, Information Technology and Industries, said the state’s IT and electronics sector had witnessed a significant recovery after the pandemic. These investments would boost employment opportunities for the state’s IT and other professionals.

To attract the IT Industry, the state government is offering plots in the IT City in Mohali with requisite infrastructure.

Job avenues for professionals

• 67% hike in investments in FY22
• Rs 200 cr plant by Dixon in Ludhiana
• Major projects by firms like Meritech Software, Xeam Ventures, Ortus Infotech