Punjab has huge potential for entrepreneurs: Experts

December 6th, 2008 - 8:34 pm ICT by IANS  

Chandigarh, Dec 6 (IANS) Despite the recession in the US and the global financial crisis, Indian markets are comparatively safe and still present extensive opportunities for entrepreneurs, experts say.A global organisation working for promoting entrepreneurship throughout the world feels that there is no dearth of scope for entrepreneurs in India, especially in Punjab which still possesses a huge potential for them.

“Entrepreneurs in Punjab have an excellent scope in the fields of life sciences, automotives, leather industry and eco-tourism, said Suren G Dutia, chief executive officer (global) of The Indus Entrepreneurs (TiE) here Saturday, a non-government organisation focused on promoting entrepreneurship.

Starting from Silicon Valley in the US, TiE has now over 50 chapters in 11 countries.

Dutia said he had observed that many people are returning to Punjab from different developed countries and are using their experience to establish their own business here.

Asked his views on the global meltdown, he said: “It has an immense impact on the industry all over the world. In Silicon Valley, most of the companies are adopting various cost cutting measures and it has certainly affect their business.”

“However, it can be a blessing in disguise for the both budding and established entrepreneurs all over the world. As now they have a chance to capitalise on the situation, by creating new ventures and by bringing out novel and innovative ideas”, he added.

About their further planning for Punjab, Shivneet Singh, executive director, TiE, Punjab and Chandigarh said they had currently 55 members from the state.

“We are catering to their needs and assisting them from our Chandigarh office only. On the basis of response that we have got so far and on the basis of our own analysis, very soon we are planning to open two-three chapters of TiE in some districts of Punjab”, he added.

Singh said they already had collaborations with various management and engineering colleges of the region. “However, our recent tie-up with Information Technology (IT) department, Chandigarh is a big boost for us. Now we can certainly work more comprehensively in this region”, he said.

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