Hyderabad: London-based international property consultant Savills on Sunday released a report, ‘Hyderabad: The Sprint’, which states that the city is surging as the economic powerhouse of India.
The report discusses the economic growth of Hyderabad and the key factors that led to this growth. Savills team presented the report on Hyderabad to Telangana IT Minister KT Rama Rao (KTR).
The report identified two key sectors that contributed to the growth, Information Technology Business Process Management (IT-BPM) and Pharmaceuticals.
KTR announces Rs 500 crores investment in pharma industry
“Hyderabad is now the most sought-after gateway city for global corporations cutting across sectors. It provides incomparable value-proposition whether by way of infrastructure, policy support, quality real estate or ease of living. Most companies wish to expand their footprint by increasing their presence in Hyderabad,” said KTR.
“We remain committed to creating a best in class and exemplary business hub for the next several generations. Telangana is at the forefront in identifying growth sectors and developing enabling policy frameworks to attract newer businesses,” he added.
The economic success story of Hyderabad is based on the four key factors of Policy Push, Infrastructure, Affordability, and Human Capital, with a fifth driver of the momentum being Sectoral Focus.
The report says that government policies have powered the growth story of Hyderabad. Policies such as the Information Communication Technology (ICT) Policy 2.0 have contributed significantly to the expansion of MNCs in Hyderabad.
Comparing with other major urban centres in the country, the report said that Hyderabad has been through a period of high economic growth.