After the top 8 metros of India, its now focus on tier II and III cities as these cities would drive the investment and growth phase of the country owing to the huge unexplored potential in these cities.
A UK-based firm conducted a survey on 15 Tier II cities of India to determine the emerging growth centres of India. The cities surveyed were Ludhiana, Lucknow, Chandigarh, Guwahati, Bhubaneswar, Jaipur, Ahmedabad, Surat, Nagpur, Indore, Goa, Vishakapatnam, Mysore, Coimbatore and Kochi.
The parameters studied were investment scenario, physical and social infrastructure, business environment, real estate, decadal growth, purchasing power and literacy.
Chandigarh got the number one spot while Nagpur the second. The third spot was shared by Goa and Kochi. Ludhiana and Guwahati shared the lowest ranks.
Chandigarh and Nagpur score on being well-equipped in telecom, power, roads and air connectivity. Indore and Kochi were leaders in decadal growth, purchasing power and literacy.
Chandigarh scores on having an active economy, conducive business environment and proactive government but it ranks low on social infrastructure due to the lack of quality hotels and entertainment avenues but surprisingly has been ranked well on the education front.
With retail and real estate development on upswing, the survey may serve the cause of the companies to decide on their future investment strategies.