Hyderabad: Hyderabad, which was ranked the fifth most dynamic city in the world by the World Economic Forum, has performed particularly well on the jobs, infrastructure and education fronts.
Technology and Innovation was one of the 42 parameters on which cities were judged and the presence of giant brands like CISCO, Amazon Facebook, Google, Microsoft and 28 IT companies, was a plus point for Hyderabad.
These companies have contributed to the creation of 35,600 new jobs in 2015-16, taking the total work force to 4.07 lakh. The start-up incubator-IT hub has become a hotspot worldwide.
The presence of good educational institutions such as IIT & IIIT- Hyderabad, and ISB has benefited the city. The real estate market has seen an incredible rise: the municipal corporation earned `6 crore in building permission alone in 2016.
Though the population of Greater Hyderabad has increased from 72 lakh in 2011 to 1.2 crore in 2016, the city is less polluted than many others. Mr M. Sandeep, president of T-Information Technology Association, said the city has “gained marks for providing a fertile environment for innovation and successfully integrating into global networks. Technology continues to be a major driver of momentum. If the government and educational institutions develop more such IT-hubs, Hyderabad has the potential to take over from Bengaluru.”
Economist Anil Reddy pointed out that Hyderabad is the largest contributor to the state’s GDP. “The change in 2016 was in high number of investments pouring in, large boost in the power sector with less power cuts, law and order controlled in the city, responsibility of the bureaucrats, a balanced political environment, and the requirements of industry, trade and the general public being met. Also, the single-window channel for industries and corporates. If this variable is managed well, by 2020 Hyderabad has the capacity to reach the top slot.”
Source : The Hindu JLL