Hyderabad, an ancient city is considered to be the major economic hub of India during the recent years. Incepted in 1591, this city has the highest number of special economic zones in India.
The major sectors of Hyderabad include Tourism, Biopharmaceutical, Retail & Real Estate, Electronics and Information Technology. Due to its steady market growth, the city is the biggest contributor to the GDP (Gross Domestic Product) of Hyderabad and also state tax.
Also known as hi-tech city, Hyderabad holds a large number of IT companies around the place.
Growth of Industries in Hyderabad
With cosmopolitan culture, the city has taken great efforts in developing a hospitable environment for Small Scale Industries (SSI) and tiny industries. Known as the City of Pearls, Hyderabad would be the perfect destination to shop bangles, silverware, lac bangles embedded with stones, pearl jewelry sets and much more.
The retail industry has created a great mark due to the growing national and international brands that have set up retail stores in the tech city. Let us have a quick look at some of the major industries in Hyderabad in a detailed manner:
According to few reports, it is estimated that Hyderabad is the World’s third best city to visit in 2013.
Some of the major tourist attractions of the city include Charminar, Chowmahalla Palace, Mecca Masjid and Qutub Shahi Tombs.
IT Industry in Hyderabad
Also known as Cyberabad, the city is among the top global centres of information technology.
Many of the software companies, call centres and business process outsourcing firms (BPO) have started to establish their infrastructure firmly in the city.
Moreover, these IT companies operate the Hyderabad centre for carrying out all their call center operations and technological development services.
It is important to know that Hyderabad is chosen as the base of operations by the large multinational technology giants. The major multinational IT firms located in Hyderabad include CA Technologies, Texas Instruments, Oracle Corporation, Virtusa, IBM, Motorola, etc.
Generally, the software companies have developed their offices in Hyderabad for two simple reasons. This include the untapped intellectual talent in the region is immense and the other one is the cheap labour which is abundant in the city.
Hyderabad is known as the India’s pharmaceutical capital and large number of major biotechnology hubs is located in the city.
The incorporation of Indian Drugs and Pharmaceuticals Limited (IDPL) in 1961 has enabled the city to be recognized by many international pharmaceutical companies across the world.
Therefore, it is estimated that Hyderabad will become a major transit hub between Europe, US, Asia and other parts of the world. The city is one of the fastest growing economies in India that offers great employment opportunities and investment options for the people.