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“Punjab, Haryana entering major economic boom”

CHANDIGARH: Punjab and Haryana have emerged as the most potential centres for ‘Knowledge Valley of India’ and they can attract Rs.50,000 crore additional investments with job opportunities for 2.5 million skilled and unskilled people by 2012.

These projections are part of a paper that the Associated Chambers of Commerce and Industry of India (ASSOCHAM) brought out on “Punjab, Haryana — the Knowledge Valley of India,’ and submitted to the Chief Ministers of the two States.

Addressing a press conference here on Sunday, ASSOCHAM President Venugopal N. Dhoot said that the promising areas for investments in the valley would be educational institutions, pharmaceuticals, biotechnology and nano technology, molecular biology, agro-processing, food processing, retail, electronics, hardware, medical treatment, IT simulation modules and job training through institutes of hotel management and tourism.

He said that Punjab and Haryana together make for vibrant economies because of dynamic and productive people, well-established institutional mechanism in place for fast track clearances, peaceful law and order environment and harmonious industrial relations. Both the States are entering into a major economic boom, representing a grand opportunity with the business community to utilise huge untapped potential.

Mr. Dhoot said that investments in the knowledge valley would basically aim at uplifting the people below poverty line, improve human development and achieve total literacy in the region which is less than 75 per cent.

He suggested that the region should focus on building a strong infrastructure for knowledge valley of India and should take advantage of economic spillover in Delhi/NCR region by bringing companies to its territories as Delhi and NCR cannot fulfil the requirement for large stretches of land.

Due to limited availability of space together with high costs associated with Delhi/NCR region, there would be an overflow of economic activities and investments which could be appropriately absorbed by this region, he said.

Apart from knowledge valley, food processing and retail would be other promising areas. Food processing and value addition in different climatic zones in this region could also attract huge private investments, the ASSOCHAM president added.

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