: Punjab IT sector attracts Rs 770 cr worth investments in 2022 #FinanceIndia #StockMarketNEWS Punjab IT sector attracts Rs 770 cr worth investments in 2022 Chandigarh, June 18 (KNN) The IT and

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Punjab IT sector attracts Rs 770 cr worth investments in 2022 #FinanceIndia #StockMarketNEWS
Punjab IT sector attracts Rs 770 cr worth investments in 2022 Chandigarh, June 18 (KNN) The IT and electronics industry in Punjab manifest a 67 per cent increase in its growth in FY22 as compared to FY21. It attracted investments worth Rs 770 core.

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

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.

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.”

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. (KNN Bureau)