Business in HoshiarpurHoshiarpur is a prominent industrial city in Punjab. It has transitioned from its industrially backward status to a budding economy in this region. With government initiatives and geographical location of Hoshiarpur, this district now poses several lucrative businesses for the local residents and industries. It offers employment to numerous skilled and unskilled people of the district and also those migrating from other parts of country.
As a district, Hoshiarpur comprises of four tehsils viz, Hoshiarpur, Garh Shankar, Dasuya, and Mukerian. It lies in Jalandhar division and shares its borders with major districts of Punjab like Gurdaspur, Kapurthala, Ludhiana, Nawashahr, and it touches Himachal Pradesh as well.
It has fertile land and rich forest reserves to facilitate many agro based industries here. Apart from these, there are rich deposits of minerals and building materials in this district. Though, lacquer and ivory handicraft is in the mainstream of local business in Hoshiarpur. It has better infrastructure for setting up new business along with lucrative opportunities and wages for induced employment.
History of Business in HoshiarpurThe business history of Hoshiarpur is not quite impressive, particularly, in post independence period of the country. Earlier to this era, there were multiple businesses and industries flourishing in the area but with partition, a major chunk of its skilled artisans moved from the region. It gave a setback to its economy and consequently led this district to become industrially backward with limited business potential. The local industries like paper pottery, leather juttis, raw wool, jute mats, and brass utensils have become extinct with machines replacing the local handmade items.
Punjab State Aid to Industries Act 1935 was formed with a view to provide financial aid to the small and cottage industries. During the period from 1970- 1975, this act largely offered financial assistance and helped to boost the business scenario in Hoshiarpur. Several other government agencies were also deployed to make this district economically and industrially viable for the new entrepreneurs.
Industries in HoshiarpurWith state aid and better infrastructural facilities, Hoshiarpur has now developed into a district with immense growth potential. As such, many small to large scale industries have been established here. Currently, there are more than 9100 small scale and more than 30 medium to large scale industries working here. These industries offer combined employment to more than 42000 workers every year. It has one major industrial cluster that manufacture tractor/ auto parts with a huge amount directed towards exports as well.
The main products of the large and medium scale industries of Hoshiarpur are pressure cookers, cotton sewing threads, steel wire, tractors, casting, sugar paper, auto parts, jeans, trousers, zips, filament yarn, and suiting- shirting. Apart from these, there are many other products manufactured in its small scale and cottage industries.
These include resin, paint, varnish, generator set, tractor parts, agriculture implements, rice sheller, auto parts, electrical appliances, valves and cocks, diesel engine, wooden furniture, ivory and art ware handicrafts, musical instruments, PVC pipes, cycle tyre tubes, cattle feed, baan and rope making, atta chakkies, and rubber/ coir mattresses.
There are major industries like Sonalika, Mahavir Spinning Mills, Reliance Industries, Hawkins Cookers, Appollo Fibers, Mukerian Papers, and JCT Mills Limited among others.
Local Businesses in HoshiarpurHoshiarpur has many local level businesses co- existing with its industries. These businesses basically pertain to the handicrafts of this region among which art ware and inlay work are quite prominent. There are many dealers selling these beautiful artifacts in the local markets. The local weavers also manufacture some fine textiles and there are many food processing, printing, and service industries in the district.
The local businesses include entertainment services, repairing of computer and automobiles, motor binding, welding work, repairing of electrical goods and agricultural implements, ice factories, and packaging industries.
Real Estate Business in HoshiarpurHoshiarpur is turning out to be the hot destination for real estate development with many profitable properties being constructed there. Residential and commercial properties are developed by local builders and these properties are posing lucrative offers to prospective buyers in the district. This growth of real estate is making new landmarks every day and attracting more people to invest in them.
People from across the country and state are getting allured to invest in residential and commercial properties of Hoshiarpur due to its immense growth potential and congenial environment. The properties are also available at quite reasonable rates here giving impetus to this sector. RS Constructions, Sehgal Property, Xen Construction, Arora Builders, Shri Balaji, Kim Infrastructure and Developers, Dee Kay International are the prominent builders in Hoshiarpur.
Agriculture Business in HoshiarpurHoshiarpur has always been a predominantly agricultural area with its major part engaged in this business. The warm sub humid climate and location of district in western Himalayan region makes it perfect for agriculture. It has large land area covered under agricultural belt with considerable cultivable land as well. Maize, wheat, paddy, sugar cane, groundnut, fodder, lentil, mango, kinnow, litchi, guava, pear, potato, and onion are the leading products here. Maize is the main kharif crop and wheat is the main Rabi crop in Hoshiarpur.
For people with lesser land area and having good stock of Livestock, poultry, as well as fisheries, these businesses are also a better opportunity for them. There are many poultry farms in district along with more than 70 dairy farms producing milk and milk products to cater to the local demands.