Invest in Puducherry: Exploring Investment Opportunities

Tourist arrival of over 1.2 Mn in 2021

Agriculture and tourism sectors are major contributors to the economy of Puducherry and about 45% of the UT's population depends on agriculture and allied activities.

The main crop of this territory is paddy. The principal food crops are rice, maize, ragi, and pulses. The cash crops include cotton, sugarcane, oilseeds, coconut, sesame and chillies. The important horticultural products are bananas and mangoes.

Puducherry has mineral deposits of limestone, clay, lignite, phosphate rocks, canker, and laterite. Many lucrative investment opportunities in Puducherry are available as some of the territory's key industries include chemicals, textiles, leather, electronics, light engineering, metals, tourism and food processing.

Puducherry is situated on the Coromandel Coast of the Bay of Bengal. Being a former French colony, the territory witnesses a prominent presence of French culture. The territory is conveniently located about 135 km away from Chennai, with a minor port located between two major ports at Chennai and Tuticorin. Gingee and Pennaiyar are the major rivers in the region. Ministry of Shipping has identified a lighthouse in the territory to be developed in phase-I of its Lighthouse Tourism initiative.

Agriculture

Agriculture is one of the most important occupations for the people of Puducherry

In November 2020, the National Bank for Agriculture and Rural Development (NABARD) unveiled the ‘Potential Linked Credit Plan’ (PLP) for Puducherry worth $467.74 mn for 2021-22
Vision 2047 is signified by the following targets for Agriculture and Fisheries
- GSDP of Primary Sector valued at INR 12,037 Cr by 2046-47
- Targeted area under Pulses measuring 4500 hectares with an estimated production of 5400 MT by 2030
- 100% supply of recycled water for Agriculture

Tourism and hospitality

Puducherry is an attractive tourist destination with its beaches, French architecture, churches and Hindu temples

While domestically, tourist arrival was observed from Bengaluru, Hyderabad, Kerala, Chennai, Odisha and West Bengal, foreign travellers were mostly from European countries, especially France
In 2021, Puducherry witnessed the arrival of 12,53,213 domestic tourists and 321 foreign tourists

Marine Products

The coastline is about 45 kms, with 26 landing centers and 1,000 sq. km. of continental shelves (with potential for marine fisheries )

It has a fishermen population of about 95,467, of which 29,383 fishermen are actively engaged in fishing from 27 marine fishing villages and 23 inland fishing villages/hamlets
The union territory is also endowed with 1400 Ha of inland water area in the form of ponds and tanks suitable for both capture and culture fishery
In January 2021, the Department of Fisheries and Fishermen Welfare in Puducherry introduced a helpline to assist fishermen in contacting the department to resolve their grievances
In addition, the government will provide transponders at a subsidised rate. It will offer a subsidy of $ 68.90 and as transponder costs $ 206.69, the fishermen would only have to pay $ 137.79 to procure the device