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Economy of Hyderabad: Difference between revisions
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{{Use Indian English|date=September 2013}} | {{Use Indian English|date=September 2013}} | ||
{{Use dmy dates|date=July 2020}} | {{Use dmy dates|date=July 2020}} | ||
The '''[[economy]] of [[Hyderabad]]''', the capital of [[Telangana]], India, is based on traditional manufacturing, the knowledge sector | [[File:Inorbit Hyderabad.jpg|thumb|Inorbit Mall in the city]] | ||
The '''[[economy]] of [[Hyderabad]]''', the capital of [[Telangana]], India, is based on traditional manufacturing, the knowledge sector and tourism.<ref>{{Cite news|url=http://www.thehindu.com/news/cities/Hyderabad/article2213470.ece| title=Travel,tourism fair begins|work=[[The Hindu]]| accessdate=19 June 2017|location=Chennai, India|date=9 July 2011}}</ref> Starting in the 1990s, the economic pattern of the city changed from a primary service hub to a more diversified economy,<ref name="Rao" /> but the service industry remains a major contributor.<ref name="rediff_India_to_10_cities">{{cite web|title=GDP: The top 10 cities in India|url=http://business.rediff.com/slide-show/2010/apr/23/slide-show-1-the-top-10-cities-in-india-by-gdp.htm|work=[[Rediff.com]]|date=23 April 2010|accessdate=21 October 2011}}</ref> As of 2006, the largest employers of Hyderabad are the governments of Andhra Pradesh and India, with 113,000 and 85,000 employees, respectively.<ref>{{cite web|title=Employee census 2006|url=http://www.apdes.ap.gov.in/Census%20&%20Surveys%202006/emp-2006/sec_wise.htm|publisher=Directorate of Economics and Statistics, Andhra Pradesh Government|year=2006|accessdate=17 May 2010|url-status=dead|archiveurl=https://web.archive.org/web/20101226015719/http://www.apdes.ap.gov.in/Census%20%26%20Surveys%202006/emp-2006/sec_wise.htm|archivedate=26 December 2010}}</ref><ref>{{cite web|title=Census of central government employees|url=http://www.dget.nic.in/publications/ccge/census2001.pdf|year=2003|publisher=Ministry of Labour, Government of India|accessdate=17 May 2010|archive-url=https://web.archive.org/web/20100821110631/http://dget.nic.in/publications/ccge/census2001.pdf|archive-date=21 August 2010|url-status=dead}}</ref> | |||
Since its inception in 1591, Hyderabad has been a global trade center in multiple areas, including its status as the world's only diamond market. City-based handicrafts were sold in the Middle East and Western countries. During the rule of the [[Nizam]]'s in the 1930s, industrial growth started with the establishment of a diversified industrial zone, which grew in parallel with traditional manufacturing. | Since its inception in 1591, Hyderabad has been a global trade center in multiple areas, including its status as the world's only diamond market. City-based handicrafts were sold in the Middle East and Western countries. During the rule of the [[Nizam]]'s in the 1930s, industrial growth started with the establishment of a diversified industrial zone, which grew in parallel with traditional manufacturing. | ||
In the 1930s and 1940s, city-based industries started importing technology from the western world for industrial manufacturing. With the introduction of the railways, the city became well connected with the port cities of | In the 1930s and 1940s, city-based industries started importing technology from the western world for industrial manufacturing. With the introduction of the railways, the city became well connected with the port cities of Bombay (now [[Mumbai]]), Madras (now [[Chennai]]), Calcutta (now [[Kolkata]]), and [[Karachi]] (now in [[Pakistan]]).<ref name="Albion CX19">{{cite web|title=Other Albion CX19|url=http://www.albioncx19project.org.uk/other_cx19s.htm|work=Albion CX19 Restoration Project|accessdate=18 June 2012}}</ref><ref name="Neelakantan">{{cite conference|title=Economy, population and urban sprawl|url=http://www.cicred.org/Eng/Seminars/Details/Seminars/PDE2007/Papers/IYER_Neelakantan_paperNairobi2007-project.pdf|work=Urban Population, Development and Environment Dynamics in Developing Countries|pages=7–19|date=13 June 2007|accessdate=18 June 2012}}</ref> During the 1950s and 1960s, most of the Indian premier public enterprises—BHEL, NMDC, HMT, BEL, IDPL, ECIL, DRDO, and HAL—were established in Hyderabad, changing the economical pattern of the city from a traditional manufacturing to a cosmopolitan industrial service sector.<ref name="TOI_EcoGrow">{{cite news|title=Brand Hyderabad loss of gloss?|url=http://articles.timesofindia.indiatimes.com/2011-11-14/hyderabad/30397051_1_r-d-centres-aurobindo-pharma-brand-hyderabad|archive-url=https://web.archive.org/web/20130507115644/http://articles.timesofindia.indiatimes.com/2011-11-14/hyderabad/30397051_1_r-d-centres-aurobindo-pharma-brand-hyderabad|url-status=dead|archive-date=7 May 2013|date=14 November 2011|newspaper=[[The Times of India]]|accessdate=18 June 2012}}</ref> | ||
Hyderabad, being the capital of Telangana, is the largest contributor to the state's GDP (Gross domestic product) and [[Taxation in India#State governments|state tax]].<ref>{{cite web|title=India's 25 most competitive cities|url=http://www.rediff.com/business/slide-show/slide-show-1-indias-25-most-competitive-cities/20101209.htm|work=[[Rediff.com]]|date=10 December 2010|accessdate=10 December 2010}}</ref> In 2011, Hyderabad generated revenues of {{INRConvert|700000|m}} and contributed a third of the state's tax revenue.<ref>{{cite news|title=Civic infra bodies get a raw deal in Budget|url=http://articles.timesofindia.indiatimes.com/2012-02-20/hyderabad/31079437_1_ghmc-allocation-hyderabad-metro-rail-project|archive-url=https://web.archive.org/web/20130507020450/http://articles.timesofindia.indiatimes.com/2012-02-20/hyderabad/31079437_1_ghmc-allocation-hyderabad-metro-rail-project|url-status=dead|archive-date=7 May 2013|date=20 February 2012|newspaper=[[The Times of India]]|accessdate=18 April 2012}}</ref> In 2021, the GDP (PPP) was {{US$}}74 Billion, placing the city sixth in India and 93rd in the world.<ref>{{cite web|title=Country briefing: India–economy (III-local economy)|url=http://globalhealth.mit.edu/home/india-economy/#_ftn5|publisher=[[Massachusetts Institute of Technology]]|date=1 September 2010|accessdate=16 May 2012}}</ref><ref name="rediff_India_to_10_cities"/> Hyderabad and its suburbs house the highest number of [[special economic zones]] among India's cities.<ref name="TOI_Hyd_Economy">{{cite news|title=Heat on Hyderabad|url=http://articles.timesofindia.indiatimes.com/2011-07-12/hyderabad/29764436_1_hyderabad-global-city-srikrishna-committee|archive-url=https://web.archive.org/web/20110717112125/http://articles.timesofindia.indiatimes.com/2011-07-12/hyderabad/29764436_1_hyderabad-global-city-srikrishna-committee|url-status=dead|archive-date=17 July 2011|date=12 July 2011|newspaper=[[The Times of India]]|accessdate=19 April 2012}}</ref> | |||
In the 1970s, the pharmaceutical and electronic industries were established in the city because of its strategic location in south-central India, for which it is known as ''the gateway to south-central India''.<ref name="TOI_EcoGrow"/><ref name="TIE_Hyd_gateway">{{cite news|title=Hyderabad airport set to become air passenger hub, pips Nagpur|url=http://www.indianexpress.com/news/hyderabad-airport-set-to-become-air-passenger-hub-pips-nagpur/907799|newspaper=The Indian Express|date=4 February 2012}}</ref><ref name="Bhargava-Bhatt">{{cite book|title=Land and people of Indian states and union territories|publisher=Kalpaz Publication| pages=330–399|year=2006|isbn=81-7835-358-X|first1=Bhargava|last1=Gopal K|first2=Bhatt|last2= S.C}}</ref> Since the 1990s, the economic patterns of the city have changed it from a | In the 1970s, the pharmaceutical and electronic industries were established in the city because of its strategic location in south-central India, for which it is known as ''the gateway to south-central India''.<ref name="TOI_EcoGrow"/><ref name="TIE_Hyd_gateway">{{cite news|title=Hyderabad airport set to become air passenger hub, pips Nagpur|url=http://www.indianexpress.com/news/hyderabad-airport-set-to-become-air-passenger-hub-pips-nagpur/907799|newspaper=The Indian Express|date=4 February 2012}}</ref><ref name="Bhargava-Bhatt">{{cite book|title=Land and people of Indian states and union territories|publisher=Kalpaz Publication| pages=330–399|year=2006|isbn=81-7835-358-X|first1=Bhargava|last1=Gopal K|first2=Bhatt|last2= S.C}}</ref> Since the 1990s, the economic patterns of the city have changed it from a primary service hub to a more diversified spectrum,<ref name="Rao">{{cite book|title=Cities in transition|url=https://archive.org/details/citiestransition00raon|url-access=limited|publisher=[[Routledge]]|pages=[https://archive.org/details/citiestransition00raon/page/n129 117]–140|year=2007|isbn=978-0-203-39115-0|first=Nirmala|last=Rao}}</ref> with the growth of IT enterprises, biotech, insurance, and financial institutions, and a strong employment base in ancillary activities such as trade and commerce, transport, storage, communication, real-estate and retail, which employ three times more people than the IT industries.<ref name="Neelakantan"/> As of 2020, Hyderabad has six lakh employees in the IT/ITES sector, working in more than 1500 companies.<ref>{{cite web|url=https://www.livemint.com/industry/infotech/lay-offs-loom-over-it-sector-in-hyderabad-telangana-govt-urges-centre-to-act-11588317514170.html|title=Lay-offs loom over IT/ ITES sector in Hyderabad, Telangana govt}}</ref><ref>{{cite web|url=https://www.thehindubusinessline.com/info-tech/it-staff-strength-in-telangana-to-double-to-10-lakh-in-3-4-years/article28445718.ece|title=IT staff strength in Telangana to double to 10 lakh in 3–4 years}}</ref><ref>{{cite web|url=https://www.thehindu.com/news/cities/Hyderabad/hyderabad-overtakes-bengaluru-in-it-office-space-occupation/article29480100.ece|title=Hyderabad overtakes Bengaluru in IT office space occupation}}</ref><ref>{{cite web|url=https://www.livemint.com/companies/news/hyderabad-it-companies-told-to-gradually-ramp-up-operations-11589079377864.html|title=Hyderabad IT companies told to gradually ramp up operations}}</ref> The service industry in this arena remains dominant, with 90% of the workforce.<ref name="Bhargava-Bhatt"/><ref name="MIT">{{cite web|title=Country briefing:India–economy | ||
|url=http://globalhealth.mit.edu/home/india-economy/#_ftn5=|publisher=[[Massachusetts Institute of Technology]]|date=1 September 2010|accessdate=18 June 2012}}</ref> As of 2005, out of every 1000 people of working age, 770 males and 190 females are employed.<ref name="delhi_gov">{{cite journal|title=Employment-unemployment situation in million plus cities of India|url=http://delhi.gov.in/DoIT/DES/Publication/paper61.pdf|publisher=[[Delhi Government]]|page=15|year=2005|accessdate=18 June 2012|archive-url=https://web.archive.org/web/20110812091829/http://www.delhi.gov.in/DoIT/DES/Publication/paper61.pdf|archive-date=12 August 2011|url-status=dead}}</ref> | |url=http://globalhealth.mit.edu/home/india-economy/#_ftn5=|publisher=[[Massachusetts Institute of Technology]]|date=1 September 2010|accessdate=18 June 2012}}</ref> As of 2005, out of every 1000 people of working age, 770 males and 190 females are employed.<ref name="delhi_gov">{{cite journal|title=Employment-unemployment situation in million plus cities of India|url=http://delhi.gov.in/DoIT/DES/Publication/paper61.pdf|publisher=[[Delhi Government]]|page=15|year=2005|accessdate=18 June 2012|archive-url=https://web.archive.org/web/20110812091829/http://www.delhi.gov.in/DoIT/DES/Publication/paper61.pdf|archive-date=12 August 2011|url-status=dead}}</ref> | ||
==Tourism== | ==Tourism== | ||
{{See also|List of tourist attractions in Hyderabad}} | |||
{{multiple image | {{multiple image | ||
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| image1 = Falak palace.jpg | |||
| caption1 = [[Falaknuma Palace]] | |||
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| caption2 = Buddha Statue in [[Hussain Sagar]] | |||
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In March 2012, The [[Ministry of Tourism (India)|Indian Union Tourism Ministry]] declared Hyderabad as the first ever "''Best Heritage City of India''".<ref name="Best_Heritage_City">{{Cite news|title=Heritage award for Hyderabad raises many eyebrows|url=http://articles.timesofindia.indiatimes.com/2012-03-02/hyderabad/31116258_1_heritage-city-tourism-hyderabad|archive-url=https://web.archive.org/web/20130507063934/http://articles.timesofindia.indiatimes.com/2012-03-02/hyderabad/31116258_1_heritage-city-tourism-hyderabad|url-status=dead|archive-date=7 May 2013|date=2 March 2012|newspaper=[[The Times of India]]|accessdate=20 March 2012}}</ref> | In March 2012, The [[Ministry of Tourism (India)|Indian Union Tourism Ministry]] declared Hyderabad as the first ever "''Best Heritage City of India''".<ref name="Best_Heritage_City">{{Cite news|title=Heritage award for Hyderabad raises many eyebrows|url=http://articles.timesofindia.indiatimes.com/2012-03-02/hyderabad/31116258_1_heritage-city-tourism-hyderabad|archive-url=https://web.archive.org/web/20130507063934/http://articles.timesofindia.indiatimes.com/2012-03-02/hyderabad/31116258_1_heritage-city-tourism-hyderabad|url-status=dead|archive-date=7 May 2013|date=2 March 2012|newspaper=[[The Times of India]]|accessdate=20 March 2012}}</ref> | ||
Hyderabad was the World's third best city to visit in 2013, according to [[Lonely Planet]]. In 2011 the city was ranked nineteenth in the world by [[The New York Times]] in The list of 41 Places to Go in 2011, the only Indian City in the list.<ref name="travelNYT">{{cite news|title=The 41 places to go in 2011|url=http://travel.nytimes.com/2011/01/09/travel/09where-to-go.html?pagewanted=all|newspaper=[[The New York Times]]|date=7 January 2011|accessdate=20 August 2011}}</ref> Hyderabad is known as the | |||
Hyderabad was the World's third best city to visit in 2013, according to [[Lonely Planet]]. In 2011 the city was ranked nineteenth in the world by [[The New York Times]] in The list of 41 ''Places to Go'' in 2011, the only Indian City in the list.<ref name="travelNYT">{{cite news|title=The 41 places to go in 2011|url=http://travel.nytimes.com/2011/01/09/travel/09where-to-go.html?pagewanted=all|newspaper=[[The New York Times]]|date=7 January 2011|accessdate=20 August 2011}}</ref> Hyderabad is known as the [[Hyderabadi pearls|''City of Pearls'']], due to the presence of pearls trading industry—until the 18th century the city was the only global trade center of [[Kollur Mine#Notable diamonds|large diamonds]].<ref name="Waldemar Hansen">{{cite book|title=The Peacock throne:the drama of Mogul India|publisher=[[Motilal Banarsidass]]|page=168 and 471|year=1972|isbn=978-8120802254 |first=Hansen|last=Waldemar}}</ref><ref name="Frommers India and city of pearls">{{cite book|title=Frommer's India|publisher=[[Wiley Publishing]]| page=403|year=2010|isbn=978-0-470-55610-8|author=Bruyn, Bain, Allardice and Joshi}} | |||
*{{cite news|title=Hyderabad in NYT 2011 list of must see places|url=http://articles.timesofindia.indiatimes.com/2011-01-26/hyderabad/28362599_1_hyderabad-list-nizam|date=26 January 2011|newspaper=[[The Times of India]]|accessdate=17 July 2011}}</ref> Many traditional and historical [[bazaar]]s are located in the city.<ref name="TheHindu_LB"/><ref>{{cite news|title=Glory of the gates|url=http://www.hindu.com/mp/2004/03/10/stories/2004031000490300.htm|archive-url=https://archive.today/20121209014948/http://www.hindu.com/mp/2004/03/10/stories/2004031000490300.htm|url-status=dead|archive-date=9 December 2012|date=10 March 2004|newspaper=[[The Hindu]]|accessdate=11 October 2011}}</ref> The [[Laad Bazaar]] and nearby markets have shops that sell pearls, diamonds and other traditional ware and cultural antiques.<ref name="TheHindu_LB">{{cite news|title=Laad bazaar traders cry foul|url=http://www.hindu.com/2008/02/22/stories/2008022257980200.htm|archive-url=https://archive.today/20121210062859/http://www.hindu.com/2008/02/22/stories/2008022257980200.htm|url-status=dead|archive-date=10 December 2012|date=22 February 2008|newspaper=[[The Hindu]]|accessdate=22 February 2008}} | *{{cite news|title=Hyderabad in NYT 2011 list of must see places|url=http://articles.timesofindia.indiatimes.com/2011-01-26/hyderabad/28362599_1_hyderabad-list-nizam|date=26 January 2011|newspaper=[[The Times of India]]|accessdate=17 July 2011}}</ref> Many traditional and historical [[bazaar]]s are located in the city.<ref name="TheHindu_LB"/><ref>{{cite news|title=Glory of the gates|url=http://www.hindu.com/mp/2004/03/10/stories/2004031000490300.htm|archive-url=https://archive.today/20121209014948/http://www.hindu.com/mp/2004/03/10/stories/2004031000490300.htm|url-status=dead|archive-date=9 December 2012|date=10 March 2004|newspaper=[[The Hindu]]|accessdate=11 October 2011}}</ref> The [[Laad Bazaar]] and nearby markets have shops that sell pearls, diamonds and other traditional ware and cultural antiques.<ref name="TheHindu_LB">{{cite news|title=Laad bazaar traders cry foul|url=http://www.hindu.com/2008/02/22/stories/2008022257980200.htm|archive-url=https://archive.today/20121210062859/http://www.hindu.com/2008/02/22/stories/2008022257980200.htm|url-status=dead|archive-date=10 December 2012|date=22 February 2008|newspaper=[[The Hindu]]|accessdate=22 February 2008}} | ||
*{{cite book|title=The rough guide to south India|publisher=[[The Penguin Group]]|page=553|year=1982|isbn=1-84353-103-8|author=Abram and Edwards}}</ref> | *{{cite book|title=The rough guide to south India|publisher=[[The Penguin Group]]|page=553|year=1982|isbn=1-84353-103-8|author=Abram and Edwards}}</ref> | ||
Hyderabad emerged as a pharmaceutical and biotechnology hub and is known as India's pharmaceutical capital and "Genome Valley of India".<ref name="Genome_Valley">{{cite web|title=Hyderabad: India's genome valley|url=http://www.rediff.com/money/2004/nov/30spec.htm|work=[[Rediff.com]] |date=30 November 2004|accessdate=13 June 2011}}</ref><ref name="TheTelegraph2">{{cite news|title=Hyderabad is a hot destination for Walsh|url=https://www.telegraph.co.uk/finance/newsbysector/transport/4339614/Hyderabad-is-a-hot-destination-for-Walsh.html|newspaper=[[The Daily Telegraph]] |date=25 January 2009|accessdate=18 October 2011}}</ref> In 2008–2009, Hyderabad's bio-pharmaceuticals exports reached {{US$}}3.1 billion.<ref name="TheTelegraph">{{cite news|title=Brand Hyderabad, takes a hit in Indian unrest|url=https://www.telegraph.co.uk/expat/expatnews/6935514/Brand-Hyderabad-takes-a-hit-in-Indian-unrest.html|newspaper=The Daily Telegraph |date=5 January 2010|accessdate=18 October 2011}}</ref> The south—central location of Hyderabad, and the incorporation of [[Indian Drugs and Pharmaceuticals Limited]] (IDPL) in 1961 proved to be a foundation of pharmaceutical industry in Hyderabad, later in the 1990s the expansion in the industry took place with the formation of [[Indian Institute of Chemical Technology]], [[ | Hyderabad emerged as a pharmaceutical and biotechnology hub and is known as India's pharmaceutical capital and "Genome Valley of India".<ref name="Genome_Valley">{{cite web|title=Hyderabad: India's genome valley|url=http://www.rediff.com/money/2004/nov/30spec.htm|work=[[Rediff.com]] |date=30 November 2004|accessdate=13 June 2011}}</ref><ref name="TheTelegraph2">{{cite news|title=Hyderabad is a hot destination for Walsh|url=https://www.telegraph.co.uk/finance/newsbysector/transport/4339614/Hyderabad-is-a-hot-destination-for-Walsh.html|newspaper=[[The Daily Telegraph]] |date=25 January 2009|accessdate=18 October 2011}}</ref> In 2008–2009, Hyderabad's bio-pharmaceuticals exports reached {{US$}}3.1 billion.<ref name="TheTelegraph">{{cite news|title=Brand Hyderabad, takes a hit in Indian unrest|url=https://www.telegraph.co.uk/expat/expatnews/6935514/Brand-Hyderabad-takes-a-hit-in-Indian-unrest.html|newspaper=The Daily Telegraph |date=5 January 2010|accessdate=18 October 2011}}</ref> The south—central location of Hyderabad, and the incorporation of [[Indian Drugs and Pharmaceuticals Limited]] (IDPL) in 1961 proved to be a foundation of pharmaceutical industry in Hyderabad, later in the 1990s the expansion in the industry took place with the formation of [[Indian Institute of Chemical Technology]], [[National Institute of Pharmaceutical Education and Research, Hyderabad|National Institute of Pharmaceutical Education and Research]], the Centre for Cellular and Molecular Biology and [[National Institute of Nutrition, Hyderabad|National Institute of Nutrition]] along with the regional institutions making Hyderabad the hub of pharmaceutical and biotechnology in India.<ref>{{cite book|title=The Geography of India: Sacred and Historic Places|publisher=Britannica educational publishing|page=188|year=2011|isbn=9781615302024|last=Pletcher|first=Kenneth}}</ref><ref>{{cite journal|title=The pharmaceutical industry in India and Hungary|publisher=[[World Bank Publications]]|pages=9–10|year=1997|issn=0253-7494|last1=Felker|first1=Greg|last2=Chaudhuri|first2=Shekhar|last3=György|first3=Katalin|journal=World Bank Technical Paper}}</ref> | ||
The establishment of the [[public sector]] in biotechnology and the [[ | The establishment of the [[public sector]] in biotechnology and the [[Genome Valley]], Fab City and the Nano Technology Park established significant infrastructure in bio-technology. These attributes attracted regional companies and [[Multinational corporation|MNC]]s to set up offices, warehouses, [[Research and development|research and development centres]] in the city.<ref>{{cite news|title=Job market booming overseas for many American companies|url=http://www.huffingtonpost.com/2010/12/28/job-market-booming-overseas_n_801839.html|newspaper=[[Huffington Post]] |date=28 December 2010|accessdate=6 October 2011}}</ref> In 2012, the city hosted the [[Convention on Biological Diversity]] (2012 COP 11).<ref>{{cite news|title=COP-11:centre mum on Rs. 1,000cr funds|url=http://www.asianage.com/hyderabad/cop-11-centre-mum-rs-1000cr-funds-249|newspaper=[[Asian Age]] |date=12 May 2012|accessdate=15 May 2012}} | ||
</ref> | </ref> | ||
The commercial market structure of Hyderabad is defined into 4 sectors—The Central Business Districts (CBD), the sub-central business centres, the neighbourhood business centres and local business centres.<ref name="Peter Scott">{{cite book|title=Geography and retailing|publisher=[[Rutgers University Press]]|pages=137–138|year=2009|isbn=978-0-202-30946-0|first=Scott|last=Peter}}</ref> Since 2007, The [[Retail|retail industry]] in Hyderabad is on the rise,<ref>{{cite news|title=Hyderabad, Chennai & Bangalore witness high rental growth: retail survey|url=http://www.thehindubusinessline.in/bline/2007/11/16/stories/2007111650820500.htm|newspaper=the Hindu Business Line|date=16 November 2001|accessdate=16 November 2007}}</ref> and several central business districts are spread across the city.<ref name="TOI_CBD">{{cite news|title=Despite Telangana heat, city's information technology cup brimming over: report|url=http://timesofindia.indiatimes.com/city/hyderabad/Despite-Telangana-heat-citys-Information-Technology-cup-brimming-over-Report/articleshow/13015756.cms|newspaper=The Times of India|date=6 May 2012|accessdate=6 May 2012}}</ref><ref>{{cite news|title=Will the real central hub stand up?|url=http://www.hindu.com/pp/2005/07/23/stories/2005072300260100.htm|archive-url=https://archive.today/20130103022033/http://www.hindu.com/pp/2005/07/23/stories/2005072300260100.htm|url-status=dead|archive-date=3 January 2013|date=23 July 2005|newspaper=[[The Hindu]]|accessdate=11 October 2011}}</ref> | The commercial market structure of Hyderabad is defined into 4 sectors—The Central Business Districts (CBD), the sub-central business centres, the neighbourhood business centres and local business centres.<ref name="Peter Scott">{{cite book|title=Geography and retailing|publisher=[[Rutgers University Press]]|pages=137–138|year=2009|isbn=978-0-202-30946-0|first=Scott|last=Peter}}</ref> Since 2007, The [[Retail|retail industry]] in Hyderabad is on the rise,<ref>{{cite news|title=Hyderabad, Chennai & Bangalore witness high rental growth: retail survey|url=http://www.thehindubusinessline.in/bline/2007/11/16/stories/2007111650820500.htm|newspaper=the Hindu Business Line|date=16 November 2001|accessdate=16 November 2007}}</ref> and several central business districts are spread across the city.<ref name="TOI_CBD">{{cite news|title=Despite Telangana heat, city's information technology cup brimming over: report|url=http://timesofindia.indiatimes.com/city/hyderabad/Despite-Telangana-heat-citys-Information-Technology-cup-brimming-over-Report/articleshow/13015756.cms|newspaper=The Times of India|date=6 May 2012|accessdate=6 May 2012}}</ref><ref>{{cite news|title=Will the real central hub stand up?|url=http://www.hindu.com/pp/2005/07/23/stories/2005072300260100.htm|archive-url=https://archive.today/20130103022033/http://www.hindu.com/pp/2005/07/23/stories/2005072300260100.htm|url-status=dead|archive-date=3 January 2013|date=23 July 2005|newspaper=[[The Hindu]]|accessdate=11 October 2011}}</ref> | ||
[[File:Hyderabad India, a view from Golconda fort.jpg|thumb|right|A view of 16th century ruined city of ''[[Naya Qila]]'' | [[File:Hyderabad India, a view from Golconda fort.jpg|thumb|right|A view of 16th century ruined city of ''[[Naya Qila]]'']] | ||
==Retail and real estate== | ==Retail and real estate== | ||
The [[World Bank Group]] ranked the city as the [[ | The [[World Bank Group]] ranked the city as the [[Ease of doing business index|second best Indian city for doing business]] in 2009.<ref name="Doing Business">{{cite web|url=http://www.doingbusiness.org/data/exploreeconomies/india/sub/hyderabad|title=Ease of doing business in Hyderabad – India (2009)|publisher=[[World Bank Group]]|accessdate=8 February 2011}}</ref> In 2020, the economic analysis group [[GaWC]] ranked Hyderabad in its second tier ([[World City|Beta- World City]]) of cities by importance.<ref name="GaWC 2010">{{cite web|title=The world according to GaWC 2020 |url=https://www.lboro.ac.uk/gawc/world2020t.html |publisher=[[Loughborough University]] |year=2020 |accessdate=16 November 2020}}</ref> In 2011, [[DTZ]] ranked Hyderabad as world's third most affordable office location,<ref>{{cite news|title=Hyderabad 3rd most affordable office location in 2011: study|url=http://www.deccanchronicle.com/channels/business/news/hyderabad-3rd-most-affordable-office-location-2011-study-699|newspaper=[[Deccan Chronicle]] |date=22 April 2012|accessdate=22 April 2012}}</ref> while ''[[Business Today (India)|Business Today]]'' ranked Hyderabad as the fourth best city to live in India.<ref name="businesstoday2">{{cite web|title=Best cities to work, play and live|url=http://businesstoday.intoday.in/story/best-cities-to-work,-play-and-live/1/4266.html|work=[[Business Today (business magazine)|Business Today]] |date=27 August 2011|accessdate=28 August 2011}}</ref> Hyderabad witnessed a high growth in the real estate business, making it among the top five concentrated cities for housing in India.<ref>{{cite news|title=Realty boom squeezes veg supply to city| url=http://articles.timesofindia.indiatimes.com/2011-06-27/hyderabad/29708219_1_realty-boom-vegetable-farm-land| archive-url=https://archive.today/20130103091840/http://articles.timesofindia.indiatimes.com/2011-06-27/hyderabad/29708219_1_realty-boom-vegetable-farm-land| url-status=dead| archive-date=3 January 2013|date=27 June 2011|newspaper=[[The Times of India]]|accessdate=21 October 2011}} | ||
*{{cite web|title=Industry outlook and performance review of housing finance companies and the Indian mortgage finance market for 2010–11|url=http://www.icra.in/Files/ticker/Housing%20note04112011.pdf|publisher=[[ICRA Limited]]|year=2011|accessdate=15 May 2012}}</ref> In 2007–08, the city's prime residential areas of [[Banjara Hills]] and [[Jubilee Hills]] reached the highest growth percentage in India. ''[[The Economic Times]]'' evaluated Banjara Hills to be worth {{US$}}20.7 billion.<ref name="economictimes_RE">{{cite news|title=Check out India's most expensive boulevard|url=http://articles.economictimes.indiatimes.com/2007-08-26/news/28478099_1_expensive-location-new-construction-value|newspaper=The Economic Times |date=26 August 2007|accessdate=7 October 2011}}</ref> | *{{cite web|title=Industry outlook and performance review of housing finance companies and the Indian mortgage finance market for 2010–11|url=http://www.icra.in/Files/ticker/Housing%20note04112011.pdf|publisher=[[ICRA Limited]]|year=2011|accessdate=15 May 2012}}</ref> In 2007–08, the city's prime residential areas of [[Banjara Hills]] and [[Jubilee Hills]] reached the highest growth percentage in India. ''[[The Economic Times]]'' evaluated Banjara Hills to be worth {{US$}}20.7 billion.<ref name="economictimes_RE">{{cite news|title=Check out India's most expensive boulevard|url=http://articles.economictimes.indiatimes.com/2007-08-26/news/28478099_1_expensive-location-new-construction-value|newspaper=The Economic Times |date=26 August 2007|accessdate=7 October 2011}}</ref> | ||
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| image1 = Microsoft hyd.jpg | |||
| caption1 = [[Microsoft]] R&D Campus | |||
| image2 = Oracle hyd.jpg | |||
| caption2 = [[Oracle Corporation|Oracle]] Campus, HITEC City | |||
}} | }} | ||
Hyderabad is among the global centres of information technology for which it is known as ''Cyberabad'' (Cyber City).<ref name="Ananya_Roy-Aihwa_Ong">{{cite book|title=Worlding cities: Asian experiments and the art of being global|url=https://archive.org/details/worldingcitiesas00roya|url-access=limited|publisher=[[John Wiley & Sons]]|page=[https://archive.org/details/worldingcitiesas00roya/page/n266 253]|year=2011|isbn=978-1-4051-9277-4|author=Roy and Ong}}</ref><ref name="TOI-IT and Manish Telikicherla Chary">{{cite news|title=An Amazon shot for city|url=http://timesofindia.indiatimes.com/city/hyderabad/An-Amazon-shot-for-city/articleshow/10335301.cms|newspaper=The Times of India |date=13 October 2011|accessdate=13 October 2011}} | Hyderabad is among the global centres of information technology for which it is known as ''Cyberabad'' (Cyber City).<ref name="Ananya_Roy-Aihwa_Ong">{{cite book|title=Worlding cities: Asian experiments and the art of being global|url=https://archive.org/details/worldingcitiesas00roya|url-access=limited|publisher=[[John Wiley & Sons]]|page=[https://archive.org/details/worldingcitiesas00roya/page/n266 253]|year=2011|isbn=978-1-4051-9277-4|author=Roy and Ong}}</ref><ref name="TOI-IT and Manish Telikicherla Chary">{{cite news|title=An Amazon shot for city|url=http://timesofindia.indiatimes.com/city/hyderabad/An-Amazon-shot-for-city/articleshow/10335301.cms|newspaper=The Times of India |date=13 October 2011|accessdate=13 October 2011}} | ||
*{{cite book|title=India:nation on the move|publisher=iUniverse.com|pages=247–248|year=2009|isbn=978-1-4401-1636-0-|first=Chary|last=Manish Telikicherla}}</ref> The city's IT sector includes the IT-enabled services, [[business process outsourcing]], entertainment industries,<ref name="TOI-IT and Manish Telikicherla Chary"/> and [[Financial services]].<ref name="center for good governance Hyderabad"/> During 2008–09, Hyderabad's IT exports reached {{US$}} 4.7 billion,<ref name="TheTelegraph"/> and 22% of the [[NASSCOM]]'s total membership is from Hyderabad.<ref name="TOI_Hyd_Economy"/> The development of a township with related technological infrastructure called [[HITEC City]] prompted global and particularly US—based companies to establish their operations in Hyderabad.<ref name="Ananya_Roy-Aihwa_Ong"/> The [[Deloitte]], [[Franklin Templeton Investments]], [[GE Capital]], [[Accenture]], [[HSBC]], [[Bank of America]], [[ABN | *{{cite book|title=India:nation on the move|publisher=iUniverse.com|pages=247–248|year=2009|isbn=978-1-4401-1636-0-|first=Chary|last=Manish Telikicherla}}</ref> The city's IT sector includes the IT-enabled services, [[business process outsourcing]], entertainment industries,<ref name="TOI-IT and Manish Telikicherla Chary"/> and [[Financial services]].<ref name="center for good governance Hyderabad"/> During 2008–09, Hyderabad's IT exports reached {{US$}} 4.7 billion,<ref name="TheTelegraph"/> and 22% of the [[NASSCOM]]'s total membership is from Hyderabad.<ref name="TOI_Hyd_Economy"/> The development of a township with related technological infrastructure called [[HITEC City]] prompted global and particularly US—based companies to establish their operations in Hyderabad.<ref name="Ananya_Roy-Aihwa_Ong"/> The [[Deloitte]], [[Franklin Templeton Investments]], [[GE Capital]], [[Accenture]], [[HSBC]], [[Bank of America]], [[ABN AMRO]], [[S&P Global]], [[Ernst & Young]], [[KPMG]], [[Capgemini]], [[Genpact]] are some of the financial services companies with offices in the city.<ref name="center for good governance Hyderabad"/> | ||
The IT exports from Hyderabad stood second in the country at | The IT exports from Hyderabad stood second in the country at ₹1,45,522 crore (US$19.66 billion) in FY 2020-21 improving from previous year ₹128,807 crore ($17 billion, 12.98% [[Compound annual growth rate|CAGR]]) in FY 2019–20.<ref>{{cite news|url=https://www.thehindu.com/news/cities/Hyderabad/it-exports-grew-1298-to-145-lakh-cr-last-fiscal/article34783417.ece| newspaper=The Hindu |title=IT exports grew 12.98% to ₹1.45 lakh cr. last fiscal |date=10 June 2021 |accessdate=10 June 2021}}</ref><ref>{{cite news|url=https://timesofindia.indiatimes.com/city/hyderabad/telangana-records-17-93-growth-in-it-sector/articleshow/75868301.cms|title=Telangana records 17.93% growth in IT sector| newspaper=The Times of India |date=21 May 2020 |accessdate=21 May 2020}}</ref><ref>{{cite web|url=https://timesofindia.indiatimes.com/city/hyderabad/telangana-it-exports-race-past-rs-1l-crore/articleshow/69104444.cms |title=Telangana IT exports race past Rs 1 lakh crore |work=The Times of India|accessdate=2018-03-25}}</ref> The major multinational IT firms located in Hyderabad are [[Microsoft]] (the largest [[Microsoft India (R&D) Pvt Ltd|R&D campus]] outside the US), [[Google]], [[Thoughtworks]], [[CA Technologies]], [[Amazon (company)|Amazon]], [[IBM]], [[Motorola]], [[Samsung]], [[Agilent]], [[ADP (company)|ADP]], [[Oracle Corporation]], [[Yahoo!]], [[Dell]], [[Texas Instruments]], [[Hewlett-Packard]], [[Virtusa]], Kewill, [[Facebook]] and others.<ref name="center for good governance Hyderabad">{{cite web|title=Survey of child labour in slums of Hyderabad: final report |url=http://www.cgg.gov.in/publicationdownloads/Survey%20of%20Child%20Labour%20in%20slums%20of%20Hyderabad.pdf |publisher=Center for Good Governance, Hyderabad |date=17 December 2008|accessdate=16 May 2012 |url-status=dead |archiveurl=https://web.archive.org/web/20120629112955/http://cgg.gov.in/publicationdownloads/Survey%20of%20Child%20Labour%20in%20slums%20of%20Hyderabad.pdf |archivedate=29 June 2012}}</ref><ref>{{cite news|title=Tour Google India|url=https://money.cnn.com/2007/10/18/news/international/google_india.fortune/index.htm|publisher=[[CNN]]|date=23 October 2007|accessdate=5 October 2011}}</ref><ref>{{cite news|title=The top five cities|url=http://businesstoday.intoday.in/story/the-top-five-cities/0/4265.html|newspaper=[[Business Today (business magazine)|Business Today]]|date=27 August 2011|accessdate=9 September 2011}}</ref><ref>{{cite web|title=Our office locations|url=http://careers.microsoft.com/careers/en/in/offices.aspx|work=[[Microsoft]]|year=2011|accessdate=9 September 2011}}</ref> The major Indian firms with development centres in the city are [[Tech Mahindra]], [[Infosys]], [[Wipro]], [[Cognizant]], [[Tata Consultancy Services]], Polaris, and others.<ref name="center for good governance Hyderabad"/> The main areas where such IT and ITeS campuses have been set up are [[Madhapur]], [[Gachibowli]], [[Kondapur]] and [[Uppal Kalan|Uppal]].<ref>{{cite news|title=New security for Hyd software firms|url=http://articles.timesofindia.indiatimes.com/2007-07-20/hyderabad/27984205_1_check-posts-software-companies-control-centre|date=20 July 2007|newspaper=[[The Times of India]]|accessdate=15 September 2011}}</ref><ref>{{cite web|title=Google offices –company|url=https://www.google.com/about/company/facts/locations/|work=[[Google]]|year=2004|accessdate=17 May 2012}}</ref><ref>{{cite news|title=Hyderabad's software hub shines brightly|url=http://articles.timesofindia.indiatimes.com/2012-02-22/hyderabad/31086326_1_rentals-rise-office-space-rental-growth|date=22 February 2012|newspaper=[[The Times of India]]|accessdate=22 April 2012}}</ref> [[Apple Inc.|Apple]] announced the opening of a new office in Hyderabad that will focus on development of its Maps product.<ref>{{Cite web|url=http://indianexpress.com/article/technology/tech-news-technology/apple-tim-cook-india-visit-maps-office-centre-hyderabad-2808203/|title=Apple opens Development Office for Maps in Hyderabad|date=2016-05-19|website=The Indian Express|access-date=2016-05-19}}</ref> | ||
===Information Technology Investment Region (ITIR)=== | ===Information Technology Investment Region (ITIR)=== | ||
The ''Information Technology Investment Region (ITIR), Hyderabad'' is an upcoming IT investment region jointly being developed by [[ | The ''Information Technology Investment Region (ITIR), Hyderabad'' is an upcoming IT investment region jointly being developed by the [[government of India]] and [[Government of Telangana]].<ref>{{cite web|title=Centre approves ITIR project in Hyderabad|url=http://www.thehindu.com/news/states/andhra-pradesh/article3875030.ece|work=The HIndu}}</ref> The union government has given in-principle approval on Sept 8th, 2012 for the Information Technology Investment Region (ITIR) for development of self-contained integrated knowledge clusters for growth of IT and electronic hardware manufacturing in 50,000 acres in and around [[Hyderabad]].<ref>{{cite web|title=Hyderabad to get 50,000-acre IT hub|url=http://articles.timesofindia.indiatimes.com/2012-09-08/infrastructure/33696185_1_information-technology-investment-region-itir-special-economic-zones|archive-url=https://archive.today/20130103202841/http://articles.timesofindia.indiatimes.com/2012-09-08/infrastructure/33696185_1_information-technology-investment-region-itir-special-economic-zones|url-status=dead|work=[[The Times of India]]|archive-date=2013-01-03}}</ref> The project which is modeled along the lines of [[Shenzhen]] SEZ in China, is aimed at attracting an investment of Rs 2.19 trillion ($44 billion) in the IT, ITES and electronics sectors and providing direct employment to 1.5 million people.{{Citation needed|date=February 2022}} | ||
Under the mega project, special economic zones (SEZs), industrial parks, free trade zones, warehousing zones and export-oriented units would come up in three corridors around the city which includes the areas [[Madhapur]], [[Gachibowli]], [[Uppal Kalan|Uppal]], Mamidipalli, Raviryal, [[Adibatla]] and Maheswaram, and [[Pocharam, | Under the mega project, special economic zones (SEZs), industrial parks, free trade zones, warehousing zones and export-oriented units would come up in three corridors around the city which includes the areas [[Madhapur]], [[Gachibowli]], [[Uppal Kalan|Uppal]], Mamidipalli, Raviryal, [[Adibatla]] and Maheswaram, and [[Pocharam, Medchal-Malkajgiri district|Pocharam]]. The government proposed to develop the infrastructure for ITIR at an estimated cost of over Rs 2.19 lakh crore.{{Citation needed|date=February 2022}} | ||
On 20 September 2013 the | On 20 September 2013 the central government gave the official approval for the ITIR project<ref>{{cite news|title=Hyderabad IT investment region in 50k acres|url=http://newindianexpress.com/cities/hyderabad/article603430.ece|newspaper=The Indian Express}}</ref> | ||
In April 2016, the | In April 2016, the central government informed Telangana state government that it would revise the entire plan. This, according to sources, may lead to the delay in the estimated investments of Rs 3 lakh crore and creation of nearly 60 lakh jobs. No explanation given on why the need for revise plan.{{Citation needed|date=February 2022}} | ||
== | ==Automobiles== | ||
{{Main|Automotive industry in Hyderabad}} | {{Main|Automotive industry in Hyderabad}} | ||
In 1942 [[Hyderabad Allwyn]] was established in Hyderabad as city's first auto-components manufacturing and assembling unit. The cities | In 1942 [[Hyderabad Allwyn]] was established in Hyderabad as city's first auto-components manufacturing and assembling unit. The cities strategic geographical location had attracted national and multinational companies to start up there operations, manufacturing, research and development centers in and around the city, transforming Hyderabad into emerging hub of the automobile industry that includes the [[electric vehicle]] industry.<ref>{{cite book |title= Journal of the Institute of Public Enterprise|url=https://books.google.com/books?id=xGXtAAAAMAAJ|volume=15|year=1992|publisher=[[Institute of Public Enterprise]], [[Osmania University]]|location= Hyderabad|accessdate=27 June 2021}}</ref><ref>{{cite news|title=US-based EV company Triton to set up ₹2,100 Cr- manufacturing facility in Telangana|url=https://www.livemint.com/auto-news/usbased-ev-company-triton-to-set-up-rs-2-100-cr-manufacturing-facility-in-telangana-11624706705549.html|date=26 June 2021|accessdate=27 June 2021}}</ref><ref>{{Cite news|title=Telangana emerging as automobile hub|url=https://www.thehindu.com/news/cities/Hyderabad/telangana-emerging-as-automobile-hub/article23247160.ece|newspaper=The Hindu|date=14 March 2018|access-date=22 June 2021}}</ref> | ||
In present times the Hyderabad economic zone houses national and multinational | In present times the Hyderabad economic zone houses national and multinational companies such as; [[Hyundai Motor Company|Hyundai]], [[Hyderabad Allwyn]], [[Praga Tools]], [[HMT (company)|HMT Bearings]], [[Ordnance Factory Medak]], [[Tata Advanced Systems|Tata Boeing Aerospace]], Deccan Auto and [[Mahindra & Mahindra]].<ref>{{cite web|title=Automobile|url=https://invest.telangana.gov.in/automobiles/|work=[[Government of Telangana]]|year=2021|accessdate=28 June 2021}}</ref> [[Fiat Chrysler Automobiles]], [[Maruti Suzuki]] and [[Triton Energy]] will invest in Hyderabad.<ref>{{Cite news|title=Fiat Chrysler setting up $150 million global digital hub in Hyderabad|url=https://www.thehindu.com/news/cities/Hyderabad/fiat-chrysler-setting-up-150-million-global-digital-hub-in-hyderabad/article33343983.ece|newspaper=The Hindu|last=Kumar|first=N. Ravi|date=16 December 2020|access-date=27 June 2021|issn=0971-751X}}</ref> | ||
==References== | ==References== | ||
{{ | {{reflist}} | ||
== External links == | |||
{{Portal|Hyderabad}} | {{Portal|Hyderabad}} | ||
{{ | |||
* {{Commons category-inline|Economy of Hyderabad, India}} | |||
[[Category:Economy of Telangana]] | [[Category:Economy of Telangana]] | ||
[[Category:Economy of Hyderabad, India]] | [[Category:Economy of Hyderabad, India]] | ||