The Government of Chandigarh has been framing several policies, from time to time, so as to motivate investors to invest into the Union Territory of Chandigarh. Such policy measures provide the guidelines for removing those road blocks which hampers the industrial map of the city. They include various investment incentives and schemes for the investors. They aim to create an appropriate industrial set up; improve the quality of the life of people; and contribute to the overall development of the economy. They thus endeavour to set up the right kind of business climate for various sectors of the Chandigarh.
The major being, the Biotechnology Policy of Chandigarh, which has been framed with a view to give an impetus to the economy and human resources of the Union Territory of Chandigarh by realizing the potential of biotechnology. The policy aims to spread awareness among the public about the benefits of biotechnology; as well as to develop processes, designs, compounds, equipments and solutions which have applications in the field of agriculture, industry, food and nutrition, pharmaceuticals, etc. The objectives of the policy are to:-
- Make Chandigarh a preferred biotechnology destination;
- Promote the biotechnology industry in Chandigarh and in the country;
- Provide facilities to biotech companies by the development of biotech laboratories;
- Enhance the growth of the biotechnology sector by utilizing the services of biotech professionals;
- Create employment for trained biotech professionals and other qualified personnel;
- Invite technology leaders worldwide to avail of Chandigarh's biotech facilities;
- Facilitate networking amongst biotech organizations and universities and colleges offering biotechnology, bio-physics, bio-chemistry, nanotechnology and bio-informatics;
- Encourage education and training of skilled professionals in biotechnology and related fields;
- Facilitate investment in biotechnology, health services, pharmaceutical research, medical education and related sectors by providing the required infrastructure and policy framework.
Another important policy is an Information Technology (IT) Policy, which has been announced to harness the growing power of IT for the betterment of the life of the residents of the Union Territory of Chandigarh. The policy aims to create a knowledge-based society through extensive use of IT as well as provide a responsive and effective administration for the welfare of the public. The objectives of the policy are to:-
- Use IT as a medium for effective interaction between the Administration and the public, so that exchange of information and access to Government departments is speedy and easy;
- Provide public service for the residents through e-governance which is efficient, speedy and cost effective;
- Reduce unemployment by generating more jobs in IT;
- Increase exports in the IT field and create a platform for excellence in software development by utilising the services of software professionals.
- Make Chandigarh an ideal IT destination.
Also, an ITES Policy has been framed in order to accelerate the economic growth of Chandigarh by leveraging the potential for IT and ITES in the city, and creating a competitive knowledge base for sustaining the growth of the industry. It aims to make Chandigarh a preferred location for the ITES companies. The objectives of the policy are to:-
- Make Chandigarh a major center for IT enabled services, by attracting a substantially large share of the ITES industry in India;
- Develop the infrastructure vital to the sustenance of the sector in the Union Territory;
- Attract Foreign Direct Investment (FDI) into Chandigarh in the knowledge industry for creating sustainable growth in the local economy;
- Enrich the skill sets of the youth of the city to provide them with high level employment and to enable high quality delivery of ITES.