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Today, giants like Reliance, Dabur or even smaller players like Turtle are all making Hyderabad a hub to conquering the entire southern market. “Andhra Pradesh is an important state for expansion in South India. Rapid industrialisation in the state, is putting Hyderabad on the global map and its multi-cultural, multi-linguistic community is gradually making Andhra a real cosmopolitan centre,” feels Amit Ladsaria, Director, Turtle Ltd. Indeed, Hyderabad is emerging as a cosmopolitan and unlike other metros, it offers abundant space for real estate development which brings us to the next sphere abuzz with activities – real estate. Currently, players from all over the world like Malaysia’s Sunway Berhad (with its investment of Rs.350 crore to set up a township) & Germany’s ACI Real Estate et al have developed a hitherto hidden penchant for Hyderabad.
With respect to state income, we’d pick two cash cows that are taking care of its economic fortunes – IT (where the state claims to have scripted the highest growth in 2007) and pharma (where we can talk of names like Dr. Reddy’s, Lupin et al, which are investing in the state). Andhra today controls 50% of India’s pharma production and this in turn is also motivating young entrepreneurs to enter this lucrative market. Explains, Apu Gupta, COO of MedPlus Health Services Pvt. Ltd, “Andhra has an entrepreneurial energy made possible by high educational levels, good income levels, political stability, and relatively lower real estate values. And with its rich history of medical excellence, the state will continue to innovate in the realm of retail health-care.”
But that’s not the only two boosters that have added the spring to the gaits of Andhra. According to a CII Analyst, Andhra Pradesh left several states behind during 2008 even in the realm of infrastructure developmental projects. For instance, since 2006, 2.67 lakh hectares of area have been brought under the micro-irrigation scheme, which is the highest for any state in the country. “It is proposed that 29 such projects will be completed by March 2009. In addition, additional irrigation plans spread over 16.18 lakh acres are in the pipeline for this fiscal year,” promises P. Lakshamiah, Minister for Irrigation, Andhra Pradesh. Even in the energy department, this state is well in the high-improvement zone as Mohd. Shavir Ali, Minister for Energy, Andhra Pradesh asserts, “Power sector in the state has been performing extremely well, despite the non-increase in power tariff to any category of consumers.” These are no ‘flash-in-the-pan’ acts on behalf of the state; no wonder bigwigs like Reliance Power (in a coal-fired project spread across 2,625 acres near Krishnapatnam port) and UB Group (in a brewery plant) are ready to bet their bucks in this state with investments amounting to Rs.20,000 crore and Rs.500 crore respectively.
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Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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