In a multi-speed world, growth defines its own parameters. Despite the recent headwinds Hyderabad has faced, its fundamentals remain solid and it continues to attain higher rank in business competitiveness. Government is actively working to improve the city’s business environment, and investors are beginning to benefit from improved efficiency and reaping the benefits of lower costs.
In a competitive world, any investment decision is influenced by sustainable growth with consistent prospect for return. The agglomeration effect — i.e. the tendency of firms to settle near other economic units because of benefits such as knowledge spillover, the presence of a specialized labor market and a developed supplier network — and the large service & manufacturing base has been an important factor for business leaders in deciding their investment decisions. With Prime Minister of India’s vision to strengthen the flow of investments in the country, Hyderabad is actively embracing the opportunity to emerge as a model of growth. The government is actively engaged in holistic up gradation of current state and unleashing opportunities for many emerging sectors.
Companies need to understand that volatility is an inherent characteristic of an emerging economy. Opportunities exist. But companies can gain, when they act in time and returns shall sustain. This calls for an integrated effort in unravelling the opportunities which exist in Hyderabad.
As Indian government officially opened up the defence industry to foreign investors, the domestic industry seems poised for another period of rapid growth. Hyderabad has the potential to become an attractive destination for governments and companies around the world that need defence & aerospace engineering services and components. The government has been proactive by ensuring that policies focus on developing good infrastructure and attracting global corporations to set up their base in Hyderabad. The real estate sector will continue to get a boost from government policies. The rapid work in developing an Information Technology Investment Region (ITIR) will further create massive opportunities in spreading of IT & ITes sector. As more companies come to the city, demand for office, retail and residential space will rise drastically, with Hyderabad offering the cheapest office space in the country can go a long way in reducing the operational expenses for the companies.
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