Planning to set up a business in Gurgaon? Want to know about the economy of Gurgaon? Know all about the economic condition of Gurgaon before you make an investment.
After India gained her independence, Gurgaon was a relatively backward place. But over the years, it has slowly climbed to the top of the list of major Indian cities. This has been made possible by the setting up of a number of major industries in Gurgaon.
Agriculture and industry
Gurgaon is a perfect example of how agriculture and industries can co-exist. It is to be remembered that Gurgaon is a city in Haryana. The state of Haryana is an agrarian one. Agriculture has always been the prime occupation in this state. Even today, 80% of the population in Gurgaon is engaged in agriculture. But the city is also home to a large number of industries. Thus, Gurgaon has an agricultural as well as industrial economy.
Industries in Gurgaon
Over the years, a number of industries have been set up in Gurgaon. The factors that helped this include
- Government assistance
- Smart policies by the Haryana government, including a favorable tax policy
- Proximity to the Indira Gandhi International Airport in Delhi
- 100% electricity supply. Every home in Gurgaon has electricity.
- Good connectivity to cities like Delhi, Jaipur and Faridabad
- Less pollution
The major industries in Gurgaon include
- Business Process Outsourcing (BPO)
- Automobile manufacturing
- Real Estate
- Textile manufacturing
- Power generation
The biotechnology and agro industries are also coming to the fore.
Fast facts about economy of Gurgaon
- The outsourcing industry of Gurgaon was born in 1997. Gurgaon is the biggest outsourcing hub in India today.
- Gurgaon has a huge manufacturing industry. This includes everything from cars to textiles.
- A new SEZ (Special Economic Zone) is being constructed in Gurgaon. This is supposed to create 200,000 jobs in the near future.
- A large number of domestic and foreign investors, including NRIs (non-resident Indians) have set up businesses in Gurgaon.
- Along with Faridabad, Gurgaon generates more than 50% of the income tax revenues in Haryana.
- Gurgaon is a large manufacturer of automobiles, including cars, bikes and scooters. Hero Honda, the world’s greatest motor cycle manufacturing company, is based in Gurgaon.
Companies in Gurgaon
Gurgaon is home to a large number of national and international companies. These include
- American Express
- British Airways
- General Motors
- HCL technologies
- Hindustan Lever Limited
- Hero Honda
- IBM Daksh
- Maruti Udyog
- New York Life
The economy of Gurgaon is a booming one, despite the recent economic downturn. It is expected that Gurgaon’s economy will continue to grow in the coming years.