Hyderabad Witnessing Unprecedented Growth in Business & EconomyHyderabad, one of the major metropolitan cities of India, is the capital of Andhra Pradesh. Not only this, Hyderabad is the financial, economic and political capital as well. The city contributes maximum to the state's gross domestic product (GDP), state tax and excise revenues.
Hyderabad is proud to be ranked as the second best Indian city for doing business in the Doing Business 2009 Report published by the World Bank Group.
Hyderabad has numerous IT hubs, Software Parks, etc. Among other industries, Tourism Industry plays a very a very important role in the business and economy of Hyderabad.
Hyderabad is also known for small business and small and medium scale industries that it has. It was once used to be tagged as The City of Pearls being a centre of large diamonds and natural pearls trade. For which, many local markets are also situated across the city. Moreover, retail sector in Hyderabad is an emerging one among others. Nowadays, many national and international brands have established their retail business in the city. Talking about other sectors Hyderabad is a biopharmaceutical hub of the world, can be tagged as India's pharmaceutical capital.
In the recent years, Hyderabad has seen facets of transition in terms of positive developments in the real estate sector, whether it's small, medium or large scale.
Also, the investment sector is witnessing a big turnaround in Hyderabad as it is the global information technology hub for which it is known as Cyberabad (Cyber City). Both IT and IT-enabled services are good revenue contributores for the Hyderabad's business and economy.
There are many companies based at Hyderabad General Electric, Tata Consultancy Services, Infosys, Wipro, Mahindra Satyam, Accenture, Oracle Corporation, Dell, Cisco, AT&T Inc., ADP, Broadridge, Intel, IBM, Deloitte, Hewlett-Packard, Motorola, to name a few among others.
The Government of Andhra Pradesh also understands these economic and business aspects of Hyderabad and gives highest priority to the industrial sector for balanced and sustainable economic growth. As industrial growth plays a key role in the process of economic development through employment and entrepreneurship hence the government also welcomes venture capitalists and investors for future prospects.