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Ahmedabad is one of the hottest investment destinations in western Indian after Mumbai. The Gross Domestic Product (GDP) of Ahmedabad in 2010 is estimated to be $160 billion where denim fabrics, gems and jewellery are the major contributors for the economy of Ahmedabad.
Industries in Ahmedabad
Ahmedabad also has a large number of industries of textiles, pharmaceuticals, plastics, metal, machinery, chemicals, electronics and passenger cars. Also with many educational institutions the Gandhinagar corridor has grown as R&D and technological hub.
The city constitutes 21.5% of total industries in the state and employees 18% workers all over the state. Ahmedabad has nearly 14% of investments in stock exchanges in India. With nearly 23, 734 small scale industries (SSI), 422 large and medium scale industries the district alone generates an employment for 1, 75,000 jobs.
Businesses in Ahmedabad
Ahmedabad is a business hub even before independence and right from the period of Mughal rule. During the Mughal rule the city was famous for its textile, gems and jewellery industry and the same sectors has grown over the centuries making the city “Manchester of the West”. Apart from these businesses, Ahmedabad in the 21st century has become a manufacturing hub of India. With major automobile manufacturers, chemical, pharma and food processing industries in Ahmedabad the city is the best spot for starting and doing businesses.
Investment Opportunities in Ahmedabad
Ahmedabad is a land of heaven for investors with 12 Special Economic Zones (SEZ), 12 main industrial estates and 10 industrial parks. Under a new policy the state government has been providing incentives to the investors resulting in more industries especially in the area of Sarkhej - Bavla Road and Sarkhej - Viramgam Road.
As per the Industrial Entrepreneurial Memorandum (IEM), Ahmedabad has attracted an investment of USD 3755.8 Million during 1998-2007. The investments were majorly made in petrochemicals, refineries, drugs and pharmaceuticals. Also the proposed dedicated freight corridor (DFC) by Government of India (GOI) passes through Gujarat accounting 38 % (564 km) of the total length making Ahmedabad a hottest destination for investments.
Business Opportunities in Ahmedabad
Ahmedabad city has got an excellent infrastructure which supports and encourages business opportunities. With large number of business conglomerates like Adani Group, Arvind Mills, Reliance, Cadilla, Bosch having their business establishments in Ahmedabad has paved a path for ancillary units. Business opportunities for these small scale industries and ancillary units are more especially in the area of brass parts, spares and plastic components for auto industries. Ahmedabad is well connected by road, rail and air transport making it a best place for doing business.
Small Business Ideas in Ahmedabad
Ahmedabad district has nearly 23,734 small scale industries which are flourishing because of the presence of large conglomerates. This region is the best for small scale industries especially in the areas of textiles, paper, chemical and other by-products. With so many large automobile manufacturing companies the ancillary units in the area is a good idea and easy way to flourish. Apart from ancillary units the location is also suitable for agro and food processing units, textile units and other small scale industries.
Along with industries, Ahmedabad also has research and development centers, world famous institutes that add to the synergy of the region. Famous institutes like Indian Institute of Management (IIM), Centre for Environmental Planning and Technology (CEPT), Mudra Institute and many others are present in this region. With the development of Delhi Mumbai Industrial Corridor, the region has been adding more advantages and attracting both foreign and local investments generating revenues and employment.