Indore emerges as the fifth best city for business investment
Indore pips Hyderabad and Gurgaon to emerge as the 5th best business destination in recent ranking unveiled by GIREM and DTZ of top 21 business destinations in the country basis infrastructure, human capital, city culture and basic quality of living
Indore: Leaving behind popular destinations such as Hyderabad and Gurgaon, Indore emerged as one of the hottest business destinations in the country in a recent ranking unveiled by Global Initiative for Restructuring Environment and Management (GIREM a not for profit industry body) and DTZ, the global leader in property services, of the top 21 business destinations in the country. The report, which scored the cities across various economic, environmental and cultural parameters, ranked Indore as the 5th best location for businesses to invest. Factors such as Human Capital, housing and climate that helped working towards it`s favorability and placing it in the top five cities list.
Indore ranks 5th with a total score of 121.04 out of 160 points. The city has good energy supply and Human capital and a high score across parameters such as water supply, mobility, schools, colleges, & housing. Indore benefits by having good climate and getaways within reach Shyam Sundar S Pani, President - GIREM said “Indore has rightfully found itself as the top five cities for businesses to invest in. It has various industries like manufacturing, IT/ITes, automobiles, alloys, pharmaceuticals, textiles, trading and banking & finance etc. Coveted projects such as Pithampur SEZ, prove that the city has the optimal infrastructure and investment environment to successfully host such projects”
GIREM has been working actively with local governments and supervisory agencies in the areas of infrastructure planning, sustainable growth and development, aimed at facilitating businesses to overcome issues of infrastructure facilities. As the business landscape across the country gets more saturated, this ranking is an attempt at identifying and creating alternate business destinations for the evolving needs of the sector.
Anshul Jain, Chief Executive, DTZ said “Rapid and unplanned urbanization in the country over the past few decades has led to unprecedented job demand. Job creation is a crucial answer to this challenge which calls for the pressing need to develop new industrial townships and business districts to ease the pressure from the already saturated business destinations. With this report, GIREM and DTZ have identified the 21 best cities in the country for this purpose, few of which are already established while others have the potential to emerge as major business destinations.
The ranking provides companies across industries and sectors with insights for future investment opportunities.”While popular destinations such as Bangalore, Mumbai, Chennai, and Pune continued to occupy top positions, the ranking revealed some unexpected contenders in the Top 10 league including Indore, Bhubaneshwar, Kochi, Coimbatore and Nagpur.
The ranking has been developed in association with leading real estate consultancy DTZ. It rates the cities based on factors such as Human Capital, Energy, Water, Transport, Housing, Healthcare, Climate, Office Space Availability and City Culture, amongst others. These constitute the basic eco-socio-economic factors critical in determining the growth of the city
Highlights of the study:
At number 5, Indore scored relatively higher than most cities on Human Capital, Housing, Climate and Getaways. Indore is the 5th top city, and has scored 121.04 out of 160 points. The city has better energy supply and it has a good Human capital, water supply, Mobility, Schools, Colleges, & housing. Indore benefits by having good climate and getaways within reach. Availability of helping hand is a plus point in Indore.
Reigning at the Number One position, Bangalore displays high potential to Attract Talent, offers favorable Weather Conditions, good availability of Office Space suiting different income groups, efficient Water Management systems, a high-quality Education System and a welcoming, multifarious City Culture. Bangalore is marginally good in Human Capital & Health Care Services and marginally bad in Energy, EHS, Housing, Malls & Multiplexes and Getaways when compared to other cities. It is very critical in Mobility, Helping hand availability & Infrastructure for helping hands.
At Number 2, Chennai scored the highest in terms of availability of Human Capital, both skilled and non-skilled; cleanliness of Environment, Hygiene and Safety; availability of Healthcare Services and accessibility to short Getaways from the city.
The 3rd position is occupied by Mumbai which scored highest in terms of availability of Power, efficient Transport Systems and easy availability of Helps such as drivers, cooks, maids, housekeeping etc.
Pune occupies the 4th position having scored a consistently high score across all major parameters including availability of Human Capital, Power, Water, Safety, Hygiene, Education Systems, Ability to Attract Talent, Climate, Office Space Availability, availability of Help, City Culture and Getaways.
At number 5, Indore scored relatively higher than most cities on Human Capital, Housing, Climate and Getaways.Bhubaneswar at Number 6 is relatively strong in terms of Water, Climate, City Culture and Getaways and shows consistently good standing across all other parameters.
Gurgaon, which has been hailed as the Millennium City and is one of the leading financial and industrial centres of the country with about 250 Fortune 500 companies, is rated relatively low at No. 19. The city loses out on availability of power, safety and environment, schools & colleges, healthcare facilities and climate. Gurgaon however does lead in availability of affordable Housing for different income segments as well as Malls and Multiplexes which offer new getaways within the city for relaxation and entertainment.
Chandigarh leads in availability of quality education across primary, secondary, higher & specialized courses with robust Schools and Colleges.
All 21 cities display very similar efficiency in terms of Water Management with Bangalore and Bhubaneshwar taking the lead by a minor 0.8, followed by Ahmedabad, Calicut, Chandigarh, NOIDA and Pune with the rest coming at similar positions thereafter.
Same is the case with Mobility in the cities with Mumbai taking the lead, followed by Chennai and Hyderabad; Ahmedabad, Bangalore, Hyderabad and Kolkata closely behind with the rest following suit not too far behind.
Where Chennai, Chandigarh and Calicut fare high on Environment, Health & Safety, Kolkata, Gurgaon and Vishakhapatnam are fairly low on the ranking.
Mumbai, Navi Mumbai, Pune and Hyderabad rank fairly low on availability of affordable housing with Gurgaon, Indore, NOIDA, Chandigarh and Calicut faring high on the parameter.
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