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In the present scenario, the business environment in the largest district of Punjab, i.e. Ludhiana, is completely different from what it was some time ago. In this era of globalization and liberalization, the domestic industries need to prepare themselves to face the novel challenges of quality as well as global competitiveness. Ethical issues, social justice and sustainable environment are some of the further challenges that must be met. Ludhiana, also known as the commercial hub of the state of Punjab, becomes notable as a representation of industrial skills and hard work of its populace. The unparalleled industrial growth in the city is imitated as an exemplar all through the country.
Large Scale Industries in Ludhiana
Ludhiana is the financial and commercial hub of Punjab state and is also amongst the top business hubs in the entire northern province of the country. There are various industries that fall into different categories, including small scale, medium scale and large scale industries. The most important industries, those that contribute majorly for the population of the city, are hosiery and textile.
Nevertheless, the other main industries are manufacturers of sewing machines, cycles, cycle parts, machine tools, auto parts, electronic goods, tubes and tire industries. Among the foremost businesses, there are also industries of beer, flour, rice, vanaspathi, rice bran oil, and cattle food producers. 60 percent of the tractor parts of India and a large segment of two wheeler and auto parts of India are produced in Ludhiana. Many parts that are used in luxury German cars like Mercedes and BMW are solely manufactured in Ludhiana in order to gratify the requirements of the world.
Small Scale Industries in Ludhiana
Talking about the small scale industries, Ludhiana city has an assortment of well known businesses of manufacturing of rubber goods, knitwear items, industrial fasteners, woolen garments and many more. Most of these small scale industries are well equipped with sturdy infrastructure and plays a major role in providing the livelihood to many workers from different parts of the country.
The administration has decided to smooth the progress of these small scale industries, or SSI, by way of augmentation of the limits for investment for some of the objects that are solely set aside to be manufactured by these industries.
Scope of Business in Ludhiana
At this point of time Ludhiana city as well as the entire region of Punjab lie within the authority of SISI, known as ‘Small Scale Service Institution.’ SISI in Ludhiana city endow the young and upcoming industrialists with several services in order to benefit them. The catalog of some of the appreciated services provided by SISI includes:
EDP- Entrepreneurship Development Program
Intensive Motivational Campaigns
Specialized Training Programs, and a lot more.
The last one, i.e. the Specialized Training Program, comprises of the training on the subject of the process of export as well as the mode of wrapping for export. Ludhiana also has the ‘Chamber of Industrial and Commercial Undertakings’, known as CICU for short, which is a not for profit, non governmental, industry managed and industry lead organization and is playing a positive job in the developmental process of the state of Punjab.
Challenges before Businesses in Ludhiana
The first key set back to the businesses and industries in Ludhiana came from the revolution in the state that prevailed from the years 1984 till 1992. A number of industries set out of the city and put up their foundation in Faridabad, Haryana in the NCR region. An additional major bang comes from the privileged taxation guidelines in the adjacent hilly states that provide the industries in these states a huge advantage in competition. Various Ludhiana based industries are now moving to these states to take the benefit of these no-tax policies. Acute labor shortage is another major challenge since the last few years.