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.
Find this article at: http://www.labnol.org/india/knowledge/forget-metros-tier-ii-cities-to-lead-the-growth-wave/632/
web: http://www.labnol.org/ email: amit@labnol.org
Reader Comments
I dont think they would find skilled workers there , the only advantage I see is real estate cheap costs.
I think finding skilled labour will not be tough since half of their skilled labour has already migrated to bigger cities in search of opportunities. Once things start moving up in these 11 cities the reverse migration will start
As urbanization in India continues, the urban:rural population ratio will go from the current 30:70 to the 80:20 more typical of developed economies. I think it’s clear that India’s “metros”, which are already busting at the seams, cannot support the 900 million+ people who will urbanize over the next fifty years. It will then be the 2nd and 3rd tier cities which will provide home and livelihood to these masses.