One of the largest cities of Madhya Pradesh, Indore is the economic hub of the state. The diversified economy of Indore is backed by traditional textile industries and modern corporate and IT companies. There are a good number of textile mills in the city and Indore has a strong grip over the wholesales garments market in India.
Further, with the blooming economy of Indore, a number of management and engineering colleges have come up in the city to match the growing demand of professionals. All over the country, Indore is the only city that houses both, IIT and IIM.
Indore: Fast Emerging as Auto Component Manufacturing Hub
Indore and its satellite regions of Pithampur and Dewas are fast emerging as an auto-component manufacturing hub. The units involved in component manufacturing are very much hopeful that MP would rise to 4th position from the current 7th position. There are a lot of activities taking place in this segment, which will definitely impact the economy of the city.
Various major auto brands are in the pipeline dewaqq to open their shops in and around the city. Eicher is going to open a new plant in Lebad near Indore, two new tractor manufacturing units to come up in Dewas and Bhopal. As soon as the component supply of MP units to Gujarat units take off, the growth rate of the sector in MP would reach around 25 to 30% in the next three years.
Indore among the List of Emerging Tier II and Tier III Cities
Smart Cities Council along with Indicus Analytics has formulated a list of 20 cities with population exceeding a million, as per 2011 census, that are contributors in country’s growth and whose progress can influence the pace of modernization of rural India and supplement the overall development of the country.
Increase in the Number of Jobs in Indore
All the current developments in the city are likely to fuel jobs in Indore. As a matter of fact, Indore recorded 19% increase in the hiring activity, which is a good sign of improved job market in the city. In the report, it was also revealed that tier-II cities were leading the talent demand. IT and infrastructure were the top job creators and Indore was leading from the front for having the highest percentage in hiring of candidates.