Hyderabad may be the scion of a young state but since its inception, the city has been the industrial and commercial hub worth replicating by other states. Hyderabad has been primarily blessed with progressive reforms in industrial policies and government agencies. The city has evolved in a very short duration as the most preferred IT destination and also a business-friendly landscape of other industries.
After his Masters in Electronics and Instrumentation Engineering, Sourish was not exactly lacking in job offers but he wanted an environment of continued advancements where his productivity would be challenged. Hyderabadâ€™s industrial development attracted him but his family wasnâ€™t happy with the relocation. Finally, the 2018 news story clinched the deal. The state had attracted investments worth Rs 1.34 lakh crore, 8,167 industrial units and generated an employment potential of over 8.52 lakh!
An Industrial Timeline
Remember Allwyn refrigerators and Vespa scooters? These public sector units form the golden history of Hyderabadâ€™s industrial landscape among many others. HMT, BHEL and HAL are other stalwarts of the industrial landscape along with Bakelite Hylam and Gulf Oil in the private sector. As the â€™80s approached, Hyderabad made its mark as a pioneer in the pharmaceutical industry. Dr. Reddyâ€™s, Aurobindo Pharma, Matrix Laboratories, Diviâ€™s Laboratories are some of the giants in this regard.
As the decade turned, the industrial landscape too changed with the dominance of IT both homegrown and MNCs. Thereafter, the power and infrastructure sector registered a flourishing expanse with Lanco Group, GVK, GMR Group, IVRCL among other small segment players. Following close on its heels, the real estate and construction industry took an expansion leap.
Today, the IT and ITES sectors are again trending. Mention must also be made of two media house giants Deccan Chronicle and Eeanadu.
Ease of Doing Business
Hyderabad has time and again proved its mettle when it comes to a business-friendly atmosphere. Here certifications, clearances, and approvals for setting up business come with the mandate of time-bound delivery. The law in the form of TS-iPass makes setting up industries an easy process with zero red tape and maximum facilitation. Amazon and MRF industries received approvals in just 11 days and 10 days, respectively.
For industrial set-ups, the state laws offer lucrative incentives and subsidies to the industry with tax incentives, reimbursements of duties and state funds. While Hyderabad was always a popular business address, in the last five years, investments in various sectors including IT, pharma, and manufacturing have upped its industrial viability quotient.
Strong Industrial Eco-System
An industrial eco-system is any conducive environment that allows for an industrial landscape to spread and prosper. In this regard, Hyderabad has the requisite pillars to develop, support and sustain industries.
A well-established large-scale as well as private industrial undertakings already in place. From public sector electronics manufacturing and defence industries to several middle-segment and small-scale entrepreneurial set-ups, the city has a diversified industry base.
The education system and institutional framework of Hyderabad are also quite commendable in churning out talent that serves as the provider of manpower. The city has many skill generating training institutes and engineering colleges that contribute to the skilled labour force.
Infrastructural Giant and a Global City
Hyderabad with its Outer Ring Road, connecting radial roads and the upcoming Metro Rail is very suitable for industrial growth. The city is also growing further in terms of infrastructure and policy frameworks such as the promise and delivery of uninterrupted power supply. Hyderabad is also known for its cost-effectiveness, and availability of skill both local and immigrant that stands to diversify the industrial distribution.
HyderabadÂ is one of India’s most liveable metro cities. It is a multi-cultural city with a rich history and a cosmopolitan outlook. This unique combination has ensured why Hyderabad is favoured by people within the country and from abroad too. A pleasant climate all year round, superior public infrastructure, knowledge and technological parks, IT hubs and serene residential areas have together made this city a desirable address for industries.
What the Figures Say
In the 2018-19 financial year, Hyderabadâ€™s export of IT products amounted to INR 1.09 lakh crores, a growth of 17 percent that is almost twice the countryâ€™s nine percent growth rate. In 2011, Hyderabad generated one-third of the stateâ€™s tax revenue by contributing INR 70 crores.
Pro-business and industry incentives are responsible forÂ the growth of the industriesÂ of Hyderabad, and this momentum is set to accelerate further. Cost reimbursements in retrofitting with energy-efficient equipment, subsidies in patent filing, sale deeds, etc. are welcome offers. There are additional incentives available for mega projects, start-up companies, SMEs and mid-scale companies, companies offering engineering services, women entrepreneurs, and corporate social responsibility.
Hyderabad is the city that every skilled worker is looking forward to today. Like Sourish, a number of other young talented professionals are inspired to take part in the thriving industrial landscape of Hyderabad.