Rajiv Gandhi Chandigarh Technology Park (RGCTP) is an extremely important project for the Union Territory of Chandigarh as it provides world class integrated infrastructure necessary for the setting up of facilities/campuses by leading Technology Companies and other IT/ITES/BPO companies for the first time in this region. Chandigarh has traditionally been a city where not many multi-national companies had earlier set up their facilities and therefore a large number of professionals had left Chandigarh in the past for other cities, in search of high level employment. The level of educational facilities here had been much higher than the level of employment opportunities available, especially in the knowledge sector. North India, as a whole had lagged behind the southern States, and RGCTP is a major step in the direction of redressing that imbalance.
Chandigarh’s economy is changing in character as the knowledge revolution sweeps the country. There has been a decline in traditional industrial activity in Chandigarh and a rapid increase in activity relating to the services sector. This is a especially evident in the fields of financial services, IT Services, Insurance Services, Hospitality, Health and Education services. The emphasis of the Administration is to promote Chandigarh in the knowledge sector. A proposal for developing Chandigarh as a financial services hub is also actively under consideration of the Administration. Projects like Chandigarh Technology Park, the education city and the film city are further likely to boost employment potential in Chandigarh and also give impetus to the economic activity here.