The new emerging India: Growth in Tier 2 cities
26 Oct. 2010 General
The world witnessed the greatest slow down over the last 2 years, but the broadening economy of India set it apart from the rest. The once known low-cost labor nation for IT services is now been increasingly recognized as a source for value-added goods and service partner of the world.
The entrepreneurial drive within the Indian subcontinent to create avenues for filling market voids with the lag in infrastructural development of the nation is what sets the country apart. With the increasing focus on the nation to provide services in the field of IT, BPO, ESO and KPO, the governing authorities too have realized the need for rapid infrastructural development of not only its Tier 1 cities like Mumbai, Delhi, Bangalore but also the rapidly growing Tier 2 cities like Ahmedabad, Pune, Jaipur, Vadodara.
As the Tier 1 cities start to get saturated and affected with over population, the growth in Tier 2 cities offer humongous potential as they already possess the basic amenities required to establish businesses. The ample availability of resources like land, skilled labor with the provision of connectivity helps set up shop for service providers.
A 2009 study on these emerging Tier 2 cities of India by the UK Trade & Investment gives a summary of why developing partnership with companies in these cities would be beneficial in the long run. The study shortlists and analysis 9 cities on their social indicators, physical infrastructure, social & cultural indicators and economic indicators.
Supporting entities like social & professional networks and state agencies also play an important role to predict the longevity of this growth. One of the initiatives by the State agencies in Gujarat was Vibrant Gujarat, a summit organized biennially since 2003 to attract and facilitate global business alliances.
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