Known as the first planned city of northern India, Jaipur is fast becoming one of the most promising business destinations. Sound infrastructure, investmentfriendly policies and good business environment are fuelling the economic growth of the city.
Home to highly skilled artisans and craftsmen, the city has become a new business address of top-notch banks, IT companies, real estate developers and industrial units. Jaipur boasts of three operational Special Economic Zones (SEZs)– two state-owned jewellery SEZs and a 3000-acre multi product SEZ being developed by real estate player Mahindra Gesco in partnership with state industrial development nodal agency RIICO.
While the state-owned SEZs are promoting the exports of local jewellers, the Mahindra SEZ is home to IT majors like Infosys, Wipro, Tech Mahindra, Naggaro Connexions and Truworth in its 750-acre IT zone and hosts companies like Q H Talbros, Veto Electropowers, Om Metals, Marsons, Dynamic Engg, Tijara Polyprep and Polymed in its 250-acre light engineering and handicraft zone.
“We have also roped in world’s three leading banks – State Bank of India, ICICI and Deutsche bank – to set up their banking services processing units in the campus. We would be generating around 1 lakh direct jobs besides 1.5 lakh indirect ones. Around 70,000 professionals are already working in the IT-SEZ while only 500 acres have been sold as yet out of 2000 acres saleable in this 3000-acre SEZ,” says Mahindra and Mahindra executive director Arun Nanda. The multiproduct SEZ is likely to attract an investment of Rs 10,000 crore over a period of 5 years. The two state-owned jewellery SEZs are doing business of over Rs 100 crore per annum.
The city is also positioning itself as a major BPO hub with leading players including Genepact, Infosys BPO and Deutsche bank in operation. While Infosys BPO and Deutsche bank are operating from Mahindra’s SEZ, Genepact, which has two centres in the city, is planning to set up an IT SEZ in Jaipur. “The operational cost in Jaipur is cheaper as compared to any metro city. It has the potential to house several businesses in near future. Availability of skilled manpower makes the prospects even brighter,” says Mahindra & Mahindra managing director and vice chairman Anand Mahindra.
Occupying a prominent place on global tourism map, Jaipur has all the top hospitality brands in its fold including Taj, Oberoi, Park Prime, Sheraton, Ramada, Le Meridien etc. The city is likely to get 17 more luxury properties to be completed by 2010. Hospitality majors like Leela Group, Bharat Hotels, Radisson, Hyatt, G L Hotels, Ramani Hotels and Nessa Leisure are set to start their operation before 2010 besides various other projects including, resorts, spas and health resorts, tented resorts, amusement parks, golf courses etc which are underway to give a fillip to the tourism industry. The city needs an inventory of at least 5000 rooms by 2010 to accommodate the overflow of tourists visiting India during the Commonwealth Games to be held in New Delhi. “Currently, hotel industry in Jaipur is running with a deficiency of 2000-2500 rooms. With these hotels on the board, there would be surplus rooms promising healthy competition among hoteliers and subsequently better services for the customers,” a government official said.
The inauguration of international air terminal is also going to boost the tourism potential of the city. The terminal building, which has come up at a cost of around Rs 100 crore, would cater to 500 passengers per hour. Jaipur Airport director Anuj Agrawal said that the international terminal would initially accommodate the existing international flights of four airline companies - Muscat flight of Oman Airways, Sharjah flight of Air Arabia and Dubai flights of Air India Express and Indian Airlines. Long distance international flights would take place in a month’s time, which would connect Singapore, Malaysia and European countries. The airport will be able to accommodate three million passengers annually, against the current 1.2 million till 2013. It is projected that this terminal would be congested between 2012-15.
The state industrial development nodal agency RIICO is also setting up a 300-acre multi product industrial area in Jaipur to fuel the industrial growth in the state. The agency has around 30 operational industrial areas in the city, housing more than 2000 industrial units. With high index of economic growth, the city is gearing up to sustain it by providing sound physical infrastructure.
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