Over the last four decades,
Gurgaon has emerged as an
industrial hub because it is a favoured destination for industrial investment, given the proximity of national capital region (NCR) belt to the country’s capital New Delhi. Bolstered by strategic location and rapid infrastructural developments, millennium city has emerged as a sought after destination for fortune 500 multinational companies and some major IT companies. This region is also home to several business districts characterized by the integrated developments encompassing retail spaces, workplaces, entertainment options and food and beverage outlets.
Favourite Spot for Companies Due to its Proximity to Delhi
Gurgaon has emerged as one of the most important city of India in the last two decades. At the same time, its proximity to Delhi means that companies have access to political decision makers. There are diverse range of companies here, ranging from major telecom players of the country to automobile manufacturers and banking companies. Also, its proximity to an international airport makes it an access point for a vast pool of professionals from different sectors. The size and quality of its office stock, along with government incentives to the sector, have positioned Gurgaon high up on the radar of the investors and industrialists. According to the census data, the population of Gurgaon doubled between 2001 and 2011, from 876,000 to more than 1.5 million due to increasing employment opportunities. “Companies looking for larger tracts of land are coming to Gurgaon as well as the city is soon going to become logistics hub”, says
Deepak Bagla, CEO, Invest India.
Developed Infrastructure
Gurgaon has emerged as a vibrant hotspot of excellent connectivity and a series of developments in infrastructural sector that has led to the emergence of several industrial hubs in the vicinity of Gurgaon, which includes Manesar, Neemrana, Bawal, Dharuhera and Bhiwadi on one hand and Cyber City, Sohna Road, Udyog Vihar on the other. According to industry experts of the country, amidst of all infrastructural developments and increased interest of developers, commercial and industrial boom of Gurgaon is here to stay.
Further, it’ll fuel residential developments and transform it into a prominent nerve center as well as the sub-business district of the region on the lines of DLF Cybercity. “Gurgaon has now become an upmarket, white collar hub as students from different streams are moving here to shape their carrier”, says Vinayak Chatterjee, Chairman, Feedback Infra.
Increasing Number of Startups
The region has already become favourite destination for some of the leading global brands like Toyota, Mitsubishi, Honda, Suzuki, etc. which are making colossal investments in real estate. The companies have created a city to suit their needs. Startups too are basing themselves in Gurgaon, so that they can be close to the huge network of corporates. The industries situated here have created a pool of skilled professionals such as engineers, managers who are constantly pushing the outsourcing industry in new and innovative ways.
Provides Opportunities to Professionals of Different Industries
Gurgaon is also well placed to lead big data analytics in the country. Also, the region has universities that supply millions of skilled candidates who are trained in quantitative disciplines like economics, mathematics and statistics as well as in computing and software development. The professionals get attracted towards Gurgaon as it gives them a desirable kind of living atmosphere at not so exorbitant prices. With the overall lifestyle, the city is becoming one of the most sought after place for all kinds of talent from different sectors.
Although, there is lack of municipal or basic cleanliness facilities, most of the industrialists are still setting their industries in Gurgaon as there is not any other city in the country that can offer talent in an entire gamut of services and that too at a single place. “With diversified industries not limited to hospitality, healthcare, retail, banking, education and many others joining the bandwagon, makes Gurgaon more attractive for potential investors”, says Vineet Taing, President, Vatika Business Centre.
Increasing Number of Outsourcing Players
Gurgaon is now the biggest hub of outsourcing companies in the world. Experts say that especially after the success witnessed by industries, more than half-a-million new jobs have been created in the area. Infact, India has now almost over 50 per cent market share in the world’s IT outsourcing industry and 70 per cent of that work happens from Gurgaon. According to the data published by India Brand Equity which is a foundation set up by the government, the total global and domestic outsourcing market opportunity for India is expected to grow multi-fold from $500 billion in 2008 to $1.7 trillion by 2025.
How’s the Future of Industries in Gurgaon
Industrialists across Gurgaon are aiming to put in on the global map in the coming years. This city has the potential to serve as a benchmark for future cities in terms of infrastructure and industries from different sectors. The city will expand with the growing modern retail spaces, residential towers, carefully planned spacious green spaces and of course with the growing investment of industrialists. As the city houses some of the biggest domestic and global corporations, it’ll be gauged as an option by many corporates to set up their branches in the coming years.
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