India is becoming a new business destination outside of China on a global scale. India has a competitive advantage thanks to its advancements in science, technology, innovation. And service specialization as well as its English-speaking, highly skilled labour force. India is establishing itself as a new market for FDI (FDIs). Hence, a list of top cities for business becomes important.
According to UNCTAD’s 2020 World Investment Report, FDI Inflows reached a record-breaking USD 51 billion in 2019, a 20% increase from 2018. Due to accessibility to the necessary skilled workers, raw resources, investors, etc., a business’s initial location always influences its potential for growth and expansion. After all of that being said, here is a list of the top ten cities in India to conduct business if you are considering doing so.
Here is a list of some Top cities which are best for opening new businesses:
MUMBAI amongst top cities for Finance in India
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Starting a business in Mumbai would give you access to capital, a skilled workforce, and well-established infrastructure.
All of the reputable banks have their headquarters in Mumbai, where companies can seek for a loan (short or long term) that will be processed more quickly. Mumbai is home to Chhatrapati Shivaji International Airport, the second busiest airport in India for travel and connectivity.
The two main ports that aid in the import and export of products from India are the Mumbai Port Trust and Jawaharlal Nehru Port Trust. The six-lane Mumbai-Pune Expressway, the Bandra-Worli Sea Link Bridge, and other national highways that link to Mumbai offer substantial road transportation options. A qualified and effective staff would be provided by the hiring of fresh talent from organizations like IIT-Bombay, Narsee Monjee Institute of Management, Jamnalal Bajaj Institute of Management, and several more organizations.
PUNE
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Pune is also in the Maharashtra region, not far from Mumbai. For enterprises, having a presence in Pune while still having access to Mumbai’s capital markets, clients, and suppliers is a rare opportunity. The six-lane Mumbai-Pune Expressway allows businesses to operate in Pune and actively participate in Mumbai.
Businesses can use these affordable real estates in Pune because the cost of real estate there is not expensive. Pune is well connected by road to important cities like Bangalore, Mumbai, Goa, and Hyderabad. About 10 KM from Pune city is where you’ll find the Pune International Airport at Lohegaon. The heart of Pune is home to important institutions such the Symbiosis International University, Indian Institute of Science Education and Research, and Deccan College Post-Graduate and Research Institute.
BANGLORE amongst top cities for IT in India
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It is the third most populated city in India and the capital of Karnataka, which has a population of about 5 million. Bangalore contributes one-third of all software exports from India and is the country’s top exporter of information technology (IT).
Large tech companies include Infosys, Accenture, Wipro, Cisco, and others. Bangalore is home to an Indian organization dedicated to space exploration. The fourth busiest airport in India is Kempe Gowda International Airport in Bengaluru. Bangalore has access to Indian trains and national highways, allowing for the movement of both people and products.
Some of the important institutions in Bangalore include IIM- Bangalore, Indian Institute of Science, National Centre for Biological Sciences, and Jawaharlal Nehru Centre for Advanced Scientific Research.
DELHI
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In contrast to Mumbai, Delhi is renowned for its harsh temperatures outside of the nation’s capital. The Delhi metro features a network of around 280 stations connecting Noida, Ghaziabad, Gurgaon, Faridabad, and other cities. Delhi was the first state to adopt metro projects. It boasts a wide network of national roadways and rail systems.
Although Delhi’s population is comparable to Mumbai’s, it is less densely inhabited, making it easier to access infrastructure. The city is home to renowned academic institutions including IIT Delhi, Jawaharlal Nehru Institutes, New Delhi Institute of Management, and many others. Businesses that work on government projects have their headquarters in Delhi. Air pollution, women’s safety, and migrant workers are just a few of the issues that make doing business in the city difficult.
HYDERABAD
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The capital of Telangana state, Hyderabad, is renowned for its skilled people and IT culture. The city’s pharmaceutical companies, including Dr. Reddy’s Lab and Davis Lab, are its most well-known exports. Genome Valley, Nano Technology Park, and Fab City are just a few of the biotechnology parks that have recently been created and constructed.
For their operations in India, tech behemoths like Microsoft, Amazon, Bank of America, and Facebook have gotten to know Hyderabad. The city of Hyderabad has a lot to offer enterprises, including a skilled labour force, funding, and government support for establishment and expansion. The noteworthy institutes in Hyderabad that offer the chance to hire local talent include the Indian Institute of Technology Hyderabad, Tata Institute of Fundamental Research, and NMIMS.
CHENNAI amongst top cities for trade
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The capital of Tamil Nadu is Chennai, previously Madras. It is the fifth-most populous city with an English-speaking majority. The auto industry in Chennai is the reason for the city’s fame. About 30% of the nation’s auto needs are met there, while 60% of the nation’s vehicle exports come from Chennai. Chennai is home to numerous well-known auto manufacturers, including Hyundai, Ford, BMW, and others.
The nation’s largest location for both automobile manufacturing and component production is emerging as Chennai. Chennai is also where the integrated coach for the Indian Railways is made. In addition to the information technology business, it has a telecommunications industry.
KOLKATA
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The reason that made it to this list was the recent industrialization progress.
The MNCs can come and set up shop to serve the demands of east India thanks to the rapidly expanding major presence of information technology. Bank of India, UCO Bank, and other significant financial organizations.
Reference:
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