What is (PSIDC) Punjab State Industrial Development Corporation ?
Punjab State Industrial Development Corporation (PSIDC) was established in the year 1966 with the objective of promoting industrial development and upgrading the industrial sector in the state of Punjab. It provides financial, technical, and promotional assistance to the recipients for their industrial growth. PSIDC offers a wide range of services including land redevelopment, business advisory, credit facilities, skill development & upgradation, export marketing & promotion, etc.
History of Punjab State Industrial Development Corporation (PSIDC)
The Punjab State Industrial Development Corporation (PSIDC) was established in 1966 with the primary objective of promoting industrial growth and development in the state of Punjab. The PSIDC currently has a portfolio of investments totaling over Rs 1,000 crore. The corporation is headquartered in Chandigarh and has regional offices across the state.
The PSIDC is engaged in a wide range of industries including textiles, food processing, chemical & pharmaceuticals, automobiles, infrastructure development, and information technology. The corporation’s flagship project is the Gurdwara Sahib Industrial Town located in Sector 17-B of Chandigarh.
Functions of PSIDC
The Punjab State Industrial Development Corporation (PSIDC) was established in 1966 to promote industrial development in the state of Punjab. PSIDC functions include providing financial and technical assistance to small and medium enterprises, advising the government on industrial policy, marketing the state’s industrial products, and developing new industrial Parks in Punjab. PSIDC also operates a number of specialized institutions, including the Industrial Infrastructure Bank and the Punjab Investment Board. PSIDC has played important role in facilitating projects of Godrej-GE(White Goods), Century textiles(Pulp and Paper), Gujarat Ambuja (Cement), IC(Paints), and HPCL – Saudi Aramco(Mega project for Grass Root Refinery) in Punjab.
Investment opportunities in Punjab State
There are many investment opportunities in Punjab State, owing to its strong industrial base and the presence of significant natural resources. The most developed sectors include agriculture, food processing, textiles, automobile manufacturing, and pharmaceuticals. Other key sectors include engineering, information technology, power generation, and distribution, construction materials, and handicrafts. Major developing and developed industries in Punjab are Cycle& cycle component manufacturing, tractor, and agriculture machinery, cotton&blended yarn, hand tool manufacturing,
The state has a well-developed infrastructure, including ports and airports. The government has made efforts to promote investment and create an environment conducive to business growth.
Punjab is home to some of India’s leading companies: Hindustan Coca-Cola Beverages (HCCB), PepsiCo India Limited (PEP), Godrej Consumer Products Ltd (GCPL), Ranbaxy Laboratories Limited (RANBX), United Phosphorus Limited (UPPL), Hero MotoCorp Ltd (HMCL) are some of the largest in the country.
Industrial Area Developed by PSIDC Punjab
The Punjab State Industrial Development Corporation (PSIDC) is one of the important organizations in the state that has been working for the development of industrial Parks in Punjab. PSIDC has developed 45-plus Industrial Parks in Punjab. To date, it has developed around 720 hectares of land in different parts of the state into industrial estates. Out of these, around 550 hectares are under the operative phase and around 150 hectares are under the acquisition phase.
How to Buy Industrial Land / Plot of PSIDC Punjab
If you are planning to buy industrial land or a plot in Punjab, then you should contact the Punjab State Industrial Development Corporation (PSIDC). PSIDC is a government-owned corporation that specializes in the procurement and development of industrial estates and industrial areas.
To purchase land from PSIDC, you will first need to submit an application. After submitting your application, PSIDC will conduct an appraisal of the property. If the property meets PSIDC’s requirements, then the corporation will offer you a price for the land. Once you have accepted the offered price, you will need to complete some paperwork related to the purchase. This includes providing PSIDC with documentation related to your financial situation and your plans for using the land. Finally, PSIDC will issue you a deed of sale.
You can also search on Industrialplot.com, an exclusive property portal for Industrial properties, here you can find lots of Industrial land /Plots for sale or lease in Punjab.
Conclusion
Punjab State Industrial Development Corporation (PSIDC) is an industry-centric public sector organization that was established in 1966 with the objective of promoting industrial development in the state. PSIDC currently has a portfolio of more than 500 projects and employs over 3,000 people across its seven offices located in Amritsar, Chandigarh, Jalandhar, Ludhiana, Mohali and Zira.
