Business and Economy of BhopalBhopal a Y-class city with its economic contribution is touted to drive the Indian economy forward. Being home to many businesses both large and small scale, ranging from industrial goods to handicraft items it is contributing significantly in the economic growth of India in general and Madhya Pradesh in particular. With an urban population of approximately two million and a stable political environment it serves as a hot spot for trade and commerce. This position is also bolstered by the high literacy rate and an ever expanding urban catchment area; the factors that ensure a myriad of investment opportunities in Bhopal.Bhopal today is a thriving town with Business opportunities in Bhopal are too many to name and flourishing in every nook and corner of the city. Anything and everything to do with business in Bhopal is finding an echo, be it an entrepreneurial venture like a plush hookah lounge for a select clientele or a several million Mall development project for the masses.
Economy of Bhopal
The major small and medium scaled industries are located in Govindpura industrial area. It has 1044 such industries.The largest engineering and manufacturing enterprise in India, Bharat Heavy Electrical Limited has a unit in Bhopal. A major manufacturer of heavy electrical equipments, BHEL serves as an important source of employment in Bhopal and nearby areas. The city is also a home to the DB Corp, which is called Bhaskar Group informally, a Rs. 1700 crore (Rs. 17 billion) business conglomerate with strong presence in media. The publication and head office of Bhaskar Group is located in Maharana Pratap Nagar. Another major publishing house i.e. Manjul Publishing House famous for the translation of the Harry Potter series of novels into Hindi is located in the old city of Bhopal.
As mentioned before that Bhopal is divided in to two parts, the old city and the new city. The major industries in the old city are medicinal, electrical goods, chemicals, cotton and jewelry. Other industries include flour milling, cotton dying, cloth weaving and painting, as well as sealing wax, making matches, and sporting equipment. The residents of the city are also engaged in large retail businesses. Beautiful zardozi and small string purse,batua is also a popular handicraft item made in old city of Bhopal. In addition, there are also a large number of garages in the Old City which specialize in automobile conversion.
Mandideep is another industrial suburb of Bhopal. With total exports of around 2,300 crore rupees ($500m; £300m) per year it has ever remained a hub of economic activities in Bhopal. Hindustan Electo Graphite and Lupin Laboratories ltd. are two famous industrial units in Mandideep area. While Hindustan Electo Graphite (HEG) ranks amongst the largest graphite electrode plant in the world, other Lupin Laboratories ltd. is famous name in the field of bio-medical sciences. Apart from these two many others like Eicher Tractors have their operational unit at Mandideep.
In recent years many business houses are competeing to tap the ample business opportunity in Bhopal. The city saw the sudden emergence of mall culture which has now emerged as an accepted part of the life of Bhopal. Many new venues for business are coming up giving Bhopal a tag of ever growing city in India.
Also Read: Industries in Bhopal, Infrastructural Development in Bhopal
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