The Panjab University in collaboration with the various departments including Departments of Alumni Relations, University Business School, UIAMS, CIIPP & DST-TEC organized an Interactive Session on “Consideration on Chandigarh’s Path to Becoming an International Financial Centre” at the SAIF/CIL Conference Hall, Panjab University.
The Chandigarh Administration has entrusted Panjab University with the responsibility of preparing the proposal for establishing an International Financial Centre (IFC) in Chandigarh. This is a matter of great pride for Panjab University, as it reflects the institution’s academic strength, research capabilities, and longstanding contribution to nation-building. With its multidisciplinary expertise and the collaborative support of CRIKC institutions, Panjab University is well positioned to provide the intellectual foundation and policy framework required for such a landmark initiative.
One of the oldest Universities in India, the Panjab University (PU) initiated at Lahore in 1882, has a long tradition of pursuing excellence in teaching and research in science and technology, humanities, social sciences, performing arts and sports. The University supports excellence and innovation in academic programmes, promotes excellence in research, scholarship and teaching. The glorious traditions of the University established during the period of more than 140 years of its long service to the nation since its inception are a source of inspiration for the present generation of faculty members and students. This is a matter of great pride for Panjab University, which has been chosen by the Chandigarh Administration to prepare the proposal for establishing an International Financial Centre in the city.
The establishment of an International Financial Centre (IFC) in Chandigarh was the central objective of the discussion. The dialogue focused on how Chandigarh, with its strategic location, modern infrastructure, strong academic and research ecosystem, and cultural vibrancy, can position itself as North India’s knowledge-driven financial hub.
Prof. Latika, Dean Alumni Relations, introduced the event and warmly welcomed the participants, setting the tone for the interactive session. She outlined the objectives of the discussion and emphasized the relevance of Chandigarh’s vision to establish an International Financial Centre.
The keynote address was delivered by Ms. Pam Kaur, Group Chief Financial Officer, HSBC, and distinguished alumna of Panjab University, who completed her B.Com and MBA (Finance) from the Panjab University, Chandigarh. She began by offering condolences to those affected by the recent floods in Punjab. After that she shared her insights on the global financial landscape, underscoring how talent building, innovation, and investor confidence can transform regional economies. She emphasized the importance of investing in human capital to create a steady pipeline of skilled professionals, citing the example of Dubai’s growth. She also underlined the need for rule of law and reliable legal mechanisms that meet international standards.
The event was graced by Shri Diprava Lakra, Finance Secretary, Chandigarh, as Chief Guestspoke about the fundamentals of the economy—land, labour, and capital. He pointed out that in Chandigarh, land costs and rents are very high, which poses challenges for industrial expansion. He stressed that the city must also leverage opportunities in business, banking, insurance, and financial services, where it has the potential to emerge as a strong hub.Concluding his remarks, he highlighted carbon trading as a possible way forward, representing a point where Chandigarh can balance sustainability with economic development.
Speaking on the occasion, Prof. Renu Vig, Vice Chancellor, Panjab University, expressed her appreciation for the Chandigarh Administration’s decision to entrust Panjab University with preparing the proposal for the establishment of an International Financial Centre in Chandigarh. She highlighted large alumni base of Panjab University that includes Prime Ministers, Presidents, bureaucrats, and sports personalities.She also emphasized the need for stronger industrial presence and innovation-driven growth to create opportunities for the youth and to position Chandigarh and Punjab as attractive destinations for global businesses.
We had a special guest with us, Sh. J.M. Balamurugan, IAS Officer and Additional Chief Secretary, Government of Panjab, who graced the event.
The program concluded with a Vote of Thanks, where gratitude was extended by Prof. Parmjit Kaur, Dean of Business Management and Commerce, Professor and Chairperson, University Business School, Panjab University Chandigarh to the distinguished speakers, dignitaries, participants, and organizing committee for making the event a success. It was observed that the establishment of an IFC in Chandigarh would not only transform the city but also deliver far-reaching benefits at the national level, including economic growth, regional development, global competitiveness, knowledge creation, and employment generation.
