Ahmedabad: The Economic Powerhouse of Gujarat
Ahmedabad, the largest industrial hub in Gujarat, contributes a GDP of about USD 64 billion. The city with a phenomenal growth record has been an important base of commerce, trade and industry. It has witnessed an exceptional prosperity because of its closeness to Surat and its access to the hinterland of Gujarat.
The Industrial Hub, Ahmedabad
The city which was once criticized for dusty roads and laid back lifestyle is now experiencing an infrastructural boom and a steep rise in population. In recent years, the city has witnessed notable rise in the information technology and scientific industries. The key drivers of Ahmedabad’s economy are the chemical, pharmaceutical, garment and textile industries. In addition, it is the largest supplier of denim and the largest exporter of gems and jewelry. The city has already won accolades for its thriving education sector and is now taking swift strides in establishing itself as a major IT/ITES and retail destination.
Home to Some Big Industries in India
- The city sees high influx of foreign direct investments (FDI) all round the year. It is the home to some of the top foreign companies such as Stork and Rollepaal of Netherlands and Bosch Rexroth of Germany and many more.
- The two biggest pharmaceutical companies of India-Zydus Cadila and Torrent Pharmaceuticals are based in the city.
- Serves as the corporate headquarters to the Nirma Group of Industries and the Adani Group
Growing Real Estate in Ahmedabad
Currently, the city’s realty market is in full swing, which can be accredited to the massive growth of its industrial sector and overall high rate of development on both the fronts, commercial and residential. The city’s real estate has shown remarkable growth over the past decade much thanks to the progressive policies and seamless governance. As per the industry veterans, the city is providing amazing and unparalleled returns on properties, and is one of the most sought after investment destinations in the country. With so many construction activities going in and around the city, the realty market seems to be in the upward gear.
A recent report released by property advisory firm Cushman and Wakefield Inc identified 8 Indian cities, including Ahmedabad where the office space demand is all set to go up. The office space demand has been increasing over the past few years, with capital values for commercial properties rising by whopping 20-30% in areas like Sarkhej-Gandhinagar and Prahladnagar.
Joining the Startup Race
As most of the Indian cities making their way ahead to become topmost destination for startups, and in the same race, Ahmedabad is also making quite a progress. Ahmedabad has been identified as one of the five upcoming startup hubs by NASSCOM Startup Landscape Report 2014. With so many top-notch development organizations, numerous incubators along with elite academic institutions, venture capital initiatives and the Gujarati entrepreneurial DNA, the city is definitely a potential destination for the innovative startups.
Job Opportunities Galore
The glory of city will be incomplete without mentioning about its robust job market. Jobs in Ahmedabad are available in bounty for job seekers across all backgrounds and educational levels. Currently, the job market in Ahmedabad is flooded with jobs pertaining to wide range of job verticals. An individual must take the help of the various online job portals in order to uncover the available opportunities in the city.
It would be good to say that Ahmedabad is on the growth curve just like other leading Indian cities. Whether it is the flourishing economy or the lucrative employment opportunities or the growing startup culture in the city, Ahmedabad has all the potential ingredients to give a stiff competition to the top cities in India.