Indore, once known for its cleanliness, delicious food and cultural heritage, has now entered a new era. The city is now fast becoming a major hub of IT and industries. Its growing economic momentum has brought it to the attention of investors. In the coming few years, Indore can become one of the largest multi-industrial hubs in the country.
Huge growth potential by 2030
Experts believe that by 2030, the IT and industrial sector in Indore will grow by 30 to 40 percent. This growth is visible not only in figures but also on the ground. Every year more than 65,000 youth are coming out of the city after getting trained efficiently, who are attracting big companies from India and abroad.
Expansion of Global Capability Center
Global Capability Centers (GCC) are also opening in large numbers in Indore. More than 37,000 people are getting direct employment from these centers. Foreign companies have also started preferring Indore for their new branches. Due to this, the demand for premium office space and high-end housing is increasing rapidly in the real estate sector. The trend of all amenities home is also big.
New heights of IT sector
Indore’s IT sector is also growing tremendously. There is a growth of 25 to 30 percent in IT exports. At the same time, the growth of the local IT sector has also reached close to 43 percent. This makes it clear that Indore will be included in the country’s leading technology hubs in the coming times. Indore will soon be named among cities like Pune, Bangalore and Gurgaon.
Increasing GDP and economic strength
Indore’s economic contribution is also increasing continuously. Currently, the city’s GDP is close to Rs 5.4 lakh crore. It is estimated that by 2030, it will increase to more than Rs 8 lakh crore. This means that Indore will start playing a big role in the country’s economic stream.
Strong academic and industrial base
Indore has more than 300 engineering and technical institutes. IIM and IIT are also present here. These institutes are constantly preparing professionals who meet the needs of the companies. Also, more than 150 ESDM units and 5 special economic zones are also established here, which provide a permanent base to the industries.
Why Indore?
IT EY of Central India. Recently got new investment of 1 thousand crores for IT and infrastructure.
Increasing demand in real estate
As new industries and companies are coming to Indore, the number of people living here is also increasing. This is leading to a huge increase in the demand for both residential and commercial properties. Especially high-salaried professionals are getting attracted towards premium residential properties.
Big impact of new policies of the government
The government of Indore has also made many new schemes under the IT Policy 2023. With these schemes, companies are getting special concessions and facilities, due to which the trend of corporate companies is increasing towards Indore. Also, schemes like Smart City Project, Metro, Super Corridor and Smart Road Network are also increasing the modernity of the city.
Possible increase in property prices
Real estate experts say that property prices in Indore may increase by 30 to 40 percent in the next few years. This increase is being seen not only in premium residential properties but also in commercial office spaces.
Great rental income opportunities
As high-salaried people start settling in Indore, the demand for co-living spaces, luxury housing and gated townships is also increasing. This is providing investors not only property value growth but also regular and good rental income.
Indore is the best
Start-up – Centre of Innovation
Indore is now also emerging as a start-up and innovation hub. Innovation clusters, incubation centres and research parks being created by the government are encouraging start-ups. Due to this, the demand for office space, co-working hubs and corporate parks is also increasing rapidly.
Expansion of digital infrastructure
E-commerce companies and IT service providers are also expanding rapidly in Indore. The main reason for this is the strong digital infrastructure of the city. This has also attracted the e-commerce sector to invest here.
Increasing demand from local talent
Earlier the youth of Indore used to go out for jobs, but now employment opportunities are available here. Due to this the number of local people settling in the city is increasing. When people start working on a good package in their city, they also invest in property here. This also keeps the local demand for real estate stable.
Golden opportunity for investors
There are many strong reasons for real estate investment in Indore. IT and industrial growth, modern infrastructure, government concessions, better connectivity, high-salary talent pool and ever-increasing property demand are making Indore the safest and most profitable destination for investment.
future time of Indore
It is clear that Indore is now becoming the next big economic hub of not only Madhya Pradesh but the entire country. Investors who invest in real estate in Indore today will become partners in its increasing value and stable returns in the future. Indore’s development is no longer limited to plans, but is clearly visible on the ground. In the coming years, this city will be counted among the leading cities of the country. Looking at the speed at which infrastructure development is taking place here, it would not be wrong to say that Indore is the future IT hub of the country.
Source- Dainik Bhaskar
