Business in PanipatOut of 21 cities in Haryana, Panipat is a major source and contributor to its economy. Panipat was constituted as a separate district in 1992 with two sub divisions at Panipat city and Samalkha. It has fertile soil which aids in agriculture and infrastructure that leads to its industrial growth. Industries in Panipat have grown manifold basically due to its better wages and economic policies of administration.
Handloom and textile are the nerves of its business though there are many other factors leading to strong economic growth of this entire region. Panipat is the biggest producer of Shoddy or recycled yarn in the world and the topmost supplier of barrack blankets to Indian Armed Forces. Business of all scales co-exists in this city due to the immense opportunities offered to them. They get high prospects for development in Panipat as the wages, infrastructure, and geographical conditions of this place are totally favorable for them.
History of Business in PanipatApart from its blood bathed history of three fiercest battles fought from 1526 to 1761, Panipat has a distinctive place in the economy of Haryana. It became a center of industry and trade during the phase of partition in 1947. At that time, many weavers from areas like Multan, Sind, and Jhang migrated to Panipat from Pakistan and they were allotted land to settle down in this city. These weavers settled their handlooms here for manufacturing durries and mats from rough cotton yarn manually spun. These products were primarily sold in Bihar, Bengal, Assam, Uttar Pradesh, etc.
It was in 1960 that Panipat was introduced on the international platform through its latest designs developed by weavers like Mr. Amrit Lal Batra and Mr. DC Bhatia that were meant exclusively for offshore markets.
After this decade, came the era of industrial revolution in this city. In the early 1970, many leading names from Indian industries made a foray in export business. Around the mid of this decade, curtains also started to be produced by local handlooms in Panipat while tablemats were introduced by its industries in 1980 by Mr. DC Bhatia after suggestion from the advisor of Central cottage Industries Corporation of India.
It was the time when Paliwal Exports commenced its export business from the city of Panipat. Later in 1985, Chindi Durries were brought to market by M/s Mahajan Overseas.
Second hand power looms entered Panipat in 1985-86 and then began the manufacturing of curtains, bed sheets, and upholstery items.
Other significant development in industrial history of Panipat was the growth of carpet industry which began in 1970 with dyed woolen yarn. It was exported in 1985.
On the other hand, shoddy yarn was brought for the first time in Panipat in 1980 to produce blankets. The turbulence of Punjab due to terrorist activities there, led to downfall of blankets industry of Amritsar.
This influenced manufacturers in Panipat to begin production of these blankets in their looms. The shoddy blankets of Panipat gained huge recognition and were largely exported to Japan. The leading manufacturers of this city introduced shuttle less looms in 1991 for upholstery clothes production.
The latter period of 1990 witnessed the evolution of Panipat handloom and textile industries with advanced techniques like Transfer Printing Technology and latest design enhancements like zari, embroidery, and embellishments on the made ups.
Industries in PanipatPanipat has been developed as an industrial area along with its sub division of Samalkha. These industries are the backbone of its economy. It has major public sector and private sector companies operating their business in Panipat. The small industries in Panipat are its handloom and textile industries. Panipat has eight segments of textile industry including all from handloom to woolen wet processing industry and cotton yarn spinning industry among others.
The city has major medium scale and large scale industries like IOC Refinery, National Fertilizers Limited, and Panipat Thermal Power Station, Nestle India Limited, Pan Food Limited, Paliwal Exports, and Mahajan Overseas.
Its neighboring sub division, Samalkha has large foundries for agricultural machinery. These are mainly supplied to the agricultural belt of Uttar Pradesh.
Local Businesses in PanipatThough handlooms and industries are the lifeline of economy in Panipat, the city has many small local businesses also flourishing with its heavy industries. The famous Pachranga Achar (a variety of mixed pickle) of Panipat is known for its taste worldwide. There are many local weavers still working manually to manufacture durries, khes, and mats. There are many dyeing, printing, and food processing units functioning in Panipat at local levels.
Exports in PanipatPanipat has been developed as a main export hub in Haryana. Its handloom and textile products are reputed worldwide. There are around 65 industrial units working in Panipat and catering to demands from countries like Australia, Japan, Canada, Europe, Middle East, and Germany. The mats, carpets, curtains, bed sheets, table covers, and durries of Panipat are exported in huge numbers every year since the beginning of exports in the city during the decades of 70s.
It has grown tremendously with the support of government machinery. It was also awarded the prestigious Gold Trophy by Export Promotion council for exporting woolen hand tufted carpets in highest quantities.
Telecom and Other Services in PanipatThe industrial city of Panipat has many leading telecom providers for offering efficient services to its people. Panipat has undergone many changes in its geographical boundaries as well as its population in the last few decades. With this increase, need for essential services were also felt rather strongly.
The better environment, infrastructure, and high opportunities worked in favor of developing services industry in this city. Now, Panipat has leading telecom providers like Airtel, Idea, Reliance, and BSNL along with many large consultancies, BPOs, and health services institutions.
Real Estate Business in PanipatPanipat is a booming industrial town in close proximity from national capital. It is just 90 km away from Delhi. This has induced major real estate players to enter its market with their major townships and other residential projects. The city has shown positive returns even during recession to these developers.
There are many huge residential and commercial developments taking place in Panipat. The topmost realty developers like DLF, Parsvnath, and Eldeco have their projects in the city. Also the other local builders like Best Group, Shivam Realtors, and SM Colonizers are coming up with their latest ventures in Panipat.