With a population of five million six hundred thousand at last estimate, Ahmedabad is one of the top ten largest urban cities in India at seventh place, and is the largest city in its state. It has also been named as the Eastern version of Manchester. This is since its textile industry is bolstering to become one of the largest in the country. It was also one of the well-known cities during the campaign for independence in India. Civil and worker’s rights campaigns were at one time or another held at this city, making it one of the main centers of political unrest during past times.Lately though, the city has been making waves not for its civil unrest, but because of the advances in construction and drastic increase in the number of people in this city. The city is also beginning to attract newer industries like information technology, research and development for industry giants in the whole world. The growing reputation of the city as an education hub has attracted talented individuals all over the country to its schools. Aside from this, many companies are cashing in with the number of people they hire from Ahmedabad schools and universities.
The city is located on the western side of India on the Sabarmati River’s banks. At an elevation of more than fifty meters on average, the city terrain is mostly flat except for the Thaltej-Jodhpur Tekra hills. The city stands on an area classed as an earthquake-prone zone. The three prevailing seasons through the year in Ahmedabad includes the dry summers and winters, as well as the very wet monsoon season. From the middle of June until mid-September, the monsoon rains bring a humid environment to the city, with rainfall at around ninety-three cm annually. The higher end of the average temperature range is around thirty degrees Celsius, with the lower ranges around fifteen degrees Celsius during the colder months of the year.
Ahmedabad’s Growing Economy
Having the largest industry inland throughout western India and being one of the most important trade and industry centers in the area are just a few of the things that Ahmedabad’s economy enjoys. The Surat port at one time became one of the most important trade destinations during Muzaffarid rule. The 19th century brought about the boom of the textile industry in the city, with The Ahmedabad Spinning and Weaving Company beginning the onslaught of all other mills to follow in its footsteps. Currently one of the country’s largest mills, Arvind Mills has its operations based in the city of Ahmedabad.
Modern, more advanced industries have begun to take root in the city, with pharmaceuticals companies having their research and development laboratories in the city. The top two companies, Zydus Cadila and Torrent Pharmaceuticals, have their headquarters based in Ahmedabad. Industrial companies also have taken root in the city with their production facilities, from domestic to multinational corporations. Ahmedabad, along with the rest of India, is showing up on the radar of companies because of the lower cost of manufacture in the country.
The city infrastructure is currently being developed to be able to accommodate more people and industries. The Sardar Sarovar Project, with dams, canals, and other water works will aim to provide potable water production for the general population along with electricity from the dams. Information technology is also blooming in the city, and following on the model of Bangalore, Ahmedabad has been placed fifth in the ranking of cities in the country for IT development.
Investing in Ahmedabad
The steady improvement in the infrastructure of the city of Ahmedabad is a good sign for investors to put their money within businesses in the city to let their money have high rates of return. The modern residential buildings and the malls being put up are very good indicators of progress and the more affluent population are able to spend discretionary income for their wants. Thus, more and more multinational companies are rushing in to sell their products to these residents so that they’ll be able to get more sales from India’s rising middle class.
The prospects for investment in Ahmedabad are very promising because of the situation in the development of the city. The healthcare, commercial, and other industries are taking steps up to become at par with cities on the global scale. The prices of land in the city are also on the rise because of the entry of large malls and other establishments that typically raise the overall value of land near their location. Recently, the trend has been that demand has far exceeded supply, doubling prices of the land available in the area. Even still, the average cost of buying land in this city is still below the average of other areas.
The urban area of the city is also a very enticing opportunity for investment, in either corporations wanting to set up base in the city, or for entrepreneurship and small business startups, whether tangible or intangible, like software companies. The location of the city is also nearer to Mumbai, and gives good access to other areas of the city as well. Lately, Ahmedabad has also gained a status as AA class in market potential value, with almost thirty-one percent of the total value of the state. One other very positive aspect of the city is that they have established industries that still have potential for large growth. The textile production in the city is still also growing along with the demand, and as the need for additional production arises, so will capital needs to cope.
The city of Ahmedabad is a good place to invest in, and provided that you know how to spot a good opportunity, you can make a lot of money from high investment returns in Ahmedabad as well. The total cost of investing is far lower in this city than in other metropolitan areas, so you can get a lot of starting investments for the same amount of money in Ahmedabad compared to other cities.