Economy

Hyderabad is one of the most happening cities in India. In the past ten years, it has emerged as a major hub for newer industries while retaining its earlier identity as the City of Pearls.

Hyderabad once flourished on the basis of its traditional pearl trade and unique handicrafts. The city has to date retained the age old arts and one can still get lacquer bangles studded with stones, Kalamkari and Nirmal paintings, and silverware. The main place to look for these is in the old city, in and around The Char Minar. Hyderabad also specializes in a unique art of designing cotton and silk fabric, known as Poochampalli, which is a typical style of weaving fabrics in different colours that overlap, merge, and stand out in geometrical shapes.

Recent developments in the city have seen a surge of modern industries in the field of pharmaceuticals, information technology, and biotechnology. Today, some of India’s major pharmaceutical companies like Dr. Reddy’s Laboratories, Aurobindo Pharma, Divi’s Lab, and Matrix Laboratories have their research and production centers located in Hyderabad.

Recently a project called Genome Valley has been completed near Hyderabad. This 200 acre facility provides world class facilities to over 100 biotech companies across the world. The Knowledge Park is the first of if its kind and is intended to provide a knowledge gateway to Indian and multinational companies. It now houses institutes and companies involved in activities related to biotech, including research, training and manufacturing. The US Pharmacopoeia (USP) chose to set up its first laboratory outside Washington in Genome Valley.

Even with a booming pharmaceutical and biotech industry, the real success story of Hyderabad lies in the field of information technology. Riding on the growth of the IT industry, Hyderabad has earned the label of the most wired city of India. Hyderabad has been the pioneer in digitising all government records including land records, application procedures and therefore enabled the delivery of documents in digitised form.

The exceptional growth in information technology has enabled Hyderabad to become a major destination for multinationals. HITEC City, a sprawling business park and the upcoming “Cyberabad” provide the necessary infrastructure to IT and IT enabled industries. Ofcourse Fab City, India’s first micro-processor and silicon chip manufacturing facility for the IT industry will be located in Hyderabad. The US$3bn project spanning 1,200 acres, started in February 2007, will create 5,000 jobs by 2009 and up to 1.4 million jobs by 2016 in 200 ancillary industries.

The city’s outskirts house the famous Ramoji Film City, which is spread over nearly 2000 acres. The complex offers over 500 film set locations where almost 20 international and 40 Indian films can be shot simultaneously. It has earned a place in the Guinness Book of Records as the world’s largest film studio complex, a place monopolised by Hollywood studios for ages.

With its varied industries – manufacturing, service, and research, Hyderabad offers a myriad of job opportunities for graduates, experienced professionals and entrepreneurs seeking a modern working environment.