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Business Opportunities In Punjab

The recent liberalization of the country's economy has pitch-forked Punjab into the mainstream of global business. Punjab's inherent strengths and efforts to attract private investment make it a land of opportunities. Its rich agricultural base has the potential to add significant value to the food processing sector. Commercial agriculture can also assist the state leverage its competitive advantage in the sector.


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Similarly, the existing industrial base of the state can be encouraged to go in for forward integration in a variety of sectors such as textiles, light engineering goods, IT, chemicals and biotechnology.


Biotechnology
 
Punjab's strong agricultural base presents an opportunity for leveraging it to develop the biotechnology industry in the state. The Government of Punjab has taken significant initiatives to promote biotechnology related R&D in the state.
 
Two centers which form the nucleus of the biotech research in the region are the Institute for Microbial Technology (IMTECH) in Chandigarh which takes up research in microbial bio-processing and the Central same. In addition, it is also supporting the Scientific and Industrial organization (CSIO) which has been developing a number of biotech based diagnostic kits.
 
The state is developing a biotechnology park in the suburbs of Chandigarh to nurture commercially viable leads through companies. The park, a public-private partnership between Beckons Industries Ltd and Punjab State Council for Science and Technology, is being set up at an estimated cost of US$ 22 million. Its facilities will include a biotech incubator for research and development, pilot testing and other validation facilities. The park aims to attract Small and Medium Enterprises (SMEs) to the cluster and contribute to overall R&D in the sector.
 
The Punjab State Council for Science and Technology will act as the single window agency for setting up business in the biotech park. Major players to have shown an interest in the park include Ranbaxy, Dr Morepen, Panacea Biotech, among others.
 
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For more information you may visit:

http://www.punjabgovt.nic.in     http://pbindustries.gov.in


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