Commerce
The World Bank ranked Ludhiana as the city in India with the best business environment in 2009.
The riches are brought mostly by small-scale industrial units, which produce industrial goods, machine parts, auto parts, household appliances, hosiery, apparel, and garments. Ludhiana is Asia's largest hub for bicycle manufacturing and produces more than 50% of India's bicycle consumption of more than 10 million each year. Ludhiana produces 60% of India's tractor parts and a large portion of auto and two-wheeler parts. Many parts used in German cars like BMW and Mercedes are exclusively produced in Ludhiana to satisfy the world requirement. It is one of the largest manufacturer of sewing machines. Hand tools and precision industrial equipment is another speciality. The apparel industry Ludhiana is famous all over India for its woolen sweaters and cotton t-shirts; most of the top Indian woolen apparel brands like Octave, Monte Carlo & Miss Grace are based in Ludhiana.
Ludhiana is known for Manufacturing Agricultural Implements and its Spare parts like Rotavator, Till Seed Drill, Combine Harvestors and doing continuous R&D in same sector.
Ludhiana is also having Chamber of Industrial and Commercial Undertakings (CICU) which is a non government, not-for-profit, industry lead and industry managed organization playing a proactive role in Punjab’s developmental process.
Besides industry, Ludhiana is a major agri-products producer. It is a big centre for dairy product packaging. Ludhiana is also a major trading hub for commodities for North India. It is a major consumer shopping centre with consumers coming from around parts of Punjab to do their big-ticket shopping.
The first major setback to the industry and business in Ludhiana has been the insurgency in Punjab that lasted from 1984 to 1992. Many industries moved out of and set up base in the township of Faridabad, Harayana, in close contiguity with the greater New Delhi area. Another major impact has been the preferential taxation policies in neighbouring hill states which has provided the businesses in those states a huge competitive advantage. Many Ludhiana-based industries are moving into those areas to take advantage of the zero tax policies. Another major challenges in recent years has been the chronic labour shortages.
Ludhiana is also home to the Ludhiana Stock Exchange Association.
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