2012

Bhubaneswar_rising

The growing might of Odisha in the economic horizons of the country is slowly getting recognized. After having topped the charts among various cities of the countries on different parameters, it is time for yet another achievement.

A recent report by Cushman & Wakefield, the world’s largest real estate services firm along with GIREM, which deals with infrastructure area in future cities have jointly identified Bhubaneswar to be among the “Top 10 Emerging cities in India”.

The findings of the  study which began on the year 2010 and took  48 cities of the country into its sampling has been published recently and rates Ahmadabad as the most promising  business destinations of India.  Cities following Ahmadabad in order of ranking are Vishakapatnam, Bhubaneswar, Chandigarh, Coimbatore, Jaipur, Kochi, Indore, Nagpur and Vadodara .

The report uses various metrics for its findings that include factors such as demographics, physical, social and real estate infrastructure, current level and scope of economic activities and government support and initiatives in determining the growth potential of the cities.

Ahmedabad attracted nearly 39 per cent of the total investments announced for these cities since 2010, followed by Visakhapatnam at 32 per cent and Vadodara at 13.5 per cent. Bhubaneswar comes next by attracting an investment of 11.2%. Apart from notching up a place in the top owing to investment it received, Bhubaneswar has got mentioned in the  report for all together different reasons which goes on to accentuate the rising prowess of the city. The report highlights the availability of quality talent pool across disciplines and specializations in Bhubaneswar, availability of lowest electricity costs in the country and significant presence of IT/TeS sector as prime reason for it being propelled to being one of the cities of the future of the country. Apart from the aforementioned things, activities such as agriculture, mining and metal production are allied sectors that provide a balanced growth to the capital city of Odisha.

The report also highlights the potential of the two cities of Bhubaneswar and Cuttack developing into a 720 sq. km integrated Urban conglomeration including Khurda, Jatani and Choudwar within the city precincts.

Mr. Sanjay Dutt, Executive Managing Director, Cushman & Wakefield India quoted that the emerging locations represent the possible growth trajectory that India’s economy will follow in the next few years. And if his words are taken into account, the future looks especially bright for Bhubaneswar!

Mentioned below are the parameters of doing business in a city and how Bhubaneswar ranks overall among other cities of the Country:

Ease of Doing BusinessRank of Bhubaneswar    Among Other Cities of India
    Starting a Business     3
    Dealing with Construction Permits     5
    Registering Properties     8
    Paying taxes    17
    Trading Across Borders     1
    Enforcing Contracts     5
    Closing Business     5

source: Cushman & Wake and Oriya Online

To read the read the full report, please click the link: C&W Report_Top 10 Emerging Business Destination in India

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