Punjab ’s information and technology (IT) sector claims that it has recovered from the Covid-19 pandemic’s impact on investment, evidently from the claims of the department. A lot of international businesses have started their operations in knowledge process outsourcing, database management, network and administration, IT infrastructure management, software design and development, and intellectual property management in the state.
Making these claims here on Sunday, the principal secretary in the Punjab department of investment promotion, information technology, and industries, Dilip Kumar, said the investment trend in the IT services and electronics sector had looked upwards once again because the state government had helped the enterprises adapt to the new working conditions during the pandemic. He said: “The new investment will create jobs in the region.”
The investment in the IT and electronics sector touched Rs 7.7 billion in the financial year 2021-22, an increase of about 67% over the last fiscal. Mohali has emerged as a hub of this industry because of the international airport, world-class amenities, number of companies, greenfield sites, and plug-and-play infrastructure. For developing the IT parks, the Punjab government now offers IT City plots through Greater Mohali Area Development Authority.
Whether this upward trend, as claimed by the department, keeps up the market and its demand is yet to be seen. What happens with the technology sector, only time will tell.