Gurgaon set to show economic growth of 10-15 per cent

Written by:
Subscribe to Oneindia News

Chandigarh, May 20: While industry in Haryana is growing at a rate of 34 per cent, much higher than the national average of about 24 to 27 per cent, its Gurgaon district adjacent to National Capital of New Delhi is fast emerging as an Information Technology (IT) hub with about 350 IT and IT Enabled Services (ITES) companies flourishing there.

As compared to national growth rate of 8-9 per cent, the economic growth rate of Gurgaon district is estimated to reach 10-15 per cent during next five years as a result of implementation of new industry policy by the present Haryana Government led by Mr Bhupinder Singh Hooda and the prevailing liberal industrial atmosphere.

The annual turnover of industrial sector in Gurgaon district has crossed the mark of Rs 73,500 crore with an investment of more than Rs 18,000 crore.

There are 475 large and medium scale units with an investment of over Rs 13,000 crore and about 10,000 small scale units with an investment of Rs 4,867 crore.

The IT policy framed by the Haryana Government is likely to give further fillip to this industry with the creation of more employment opportunities.

The major incentive given to various units include relaxation in floor area ratio, rebate on registration, transfer of properties charges, exemption under Haryana shops and commercial establishment Act.

The end of textile quota regime, low interest rates, rapid technological change and labour reforms are further likely to boost productivity of industries. With the implementation of Haryana Industrial Promotion Rules-2007 by the present Haryana Government, the investment in industrial units of up to Rs five crore is expected to increase significantly.

The construction of Qutub Minar-Gurgaon Metro Corridor at a cost of Rs 570 crore is in progress which is likely to be completed by January 2010. Till now, an expenditure of Rs 154.77 crore has been incurred on this project.

The length of this Metro Rail Link is 7.08 km and it will have five stations namely Garden Estate, Sikenderpur, DT City Centre, Iffco Chowk and Sushant Lok. This would further improve connectivity between National Capital Delhi and Gurgaon. Over the years, Gurgaon district has witnessed a phenomenal growth in all spheres of development particularly in urbanisation and creating industrial climate.

Therefore, it is considered as one of the major towns of not only Haryana but has gained fame as 'Cyber City' at international level. Gurgaon is often referred as the 'Second Singapore' and as a 'Millennium City'.

A number of policy initiatives announced by the state government from time to time have provided an impetus for the rapid industrialisation in the district.

Its ideal location on the National Highway of Delhi-Jaipur road in close proximity of the Indira Gandhi International Airport and its well-developed infrastructure base like existing roads and communications network and total electrification have made Gurgaon the choicest location for the high value projects involving foreign collaboration with huge investment.

Gurgaon has emerged as a preferred destination for IT industry after the announcement of IT policy by the state Government. With a view to give boost to IT industry, a regional IT industry promotion office has been set up in Gurgaon.

The electronic city in Gurgaon is spread over an area of 40 acres for hi-tech and export oriented electronics and IT industry.

A Software Technology Park over an area of 14,000 sq ft is being developed within the Electronic city. It is allotted to software units.

Satellite communication link has been provided for the benefit of units located in the park. Information Technology and telecommunication complex in the electronic city has been planned for computer and software exports with world class facilities like Earth station, Teleconferencing, Internet-mail service and other state of art communication service.

The industrial units of Gurgaon have exported goods worth Rs 20,000 crore during the year 2006-07. Out of this, exports of worth Rs 14,000 crore are in IT sector, Rs 2,500 crore in automobile sector, Rs 2,000 crore in the sector of readymade garments and of Rs 1500 crore in other sectors.

The main items being exported from Gurgaon included cars, motorcycles, software, readymade garments, sports goods and rice to the UK, Algeria, Hungary, Denmark, Netherlands, Columbia, Sri Lanka, Japan, Bangladesh, Nepal, Australia, Korea, South Africa, the US, Europe, Austria and Mexico Gurgaon is now ranked third among the country's major software export locations in India after Bangalore and Chennai.

The employment generated in the industrial sector exceeds 3.51 lakh persons. There are many prominent units engaged in the manufacture of cars, motorcycles, automobile parts, telecommunication equipment, electrical goods, software development, hardware, sports goods, rubber products, readymade garments, light engineering goods, pharmaceuticals, terry towels, food items, air conditions, Shoes, pesticides and insecticides.

Gurgaon has attracted foreign direct investment of Rs 5,000 crore through Haryana State Industrial and Infrastructure Development Corporation, (HSIIDC) Haryana Urban Development Authority and Department of Industries to set up industrial units at IMT Manesar, Udyog Vihar, Electronic City, Pace City and Industrial Development Colony Estate. The new projects under implementation are special economic zone, KMP expressway, Metro Rail link, Multi layer parking facility in HSIIDC, Vinjya Nikunj and setting up of Gems and Jewellery park.

The incoming units include Satyam Computers Service, I Labs, Agilent Technologies, CSM Computers, WNS Global, Oracle in IT Sector and Yes Bank in Banking with BPO, Erricson, American Express, XL Insurance in BPO, Genpact, Bank of America and Accenture in call-centre service.

Today, Gurgaon is home of world famous IT companies like Hughes Software, Tata Consultancy service, HCL, GE Capital and Silicon Graphics Alcatel, American Express, Convergys, Motorola, Ericcson, Polaris, Sapient, Hewitt, Dell, Samsung, Aricent, Microsoft, IBM, Siemens, Fidelity, Genpact, Oracle, WNS, Google, Accenture and Wipro.

There are 405 units of IT and IT enabled services with an investment of Rs 2,470 crore and providing employment avenues to 1.50 lakh persons. The ITeS segment is the fastest growing segment of IT sector.

Most of the multinational companies are shifting their work requirement to outsource from India. It is due to availability of English speaking personnel, liberalised industrial policies, well developed infrastructure, road network and telecommunication network.

The latest Nasscom-Mckinsey report has scaled up the revenue projections for ITeS sectors to 40 to 50 billion dollars by the end of 2008.

The automobile industries in Gurgaon is producing passenger cars, motor cycles, scooter and its components worth Rs 43,500 crore.

The other category of industries which have shown tremendous growth in district Gurgaon is readymade garments and a cluster of high fashion readymade garment units have come up in Udyog Vihar. Some of the units have also won National Awards and many are also exporting their products. The prestigious units include Orient Craft Ltd, Pearl Global, GIVO, DCM Benetton, Gaurav International, Chelsea Mills, Modelma exports.

The other industries in Gurgaon are of rubber and plastics, agro-based and food processing, pharmaceuticals, electrical, leather as well as few companies in the field of biotechnology. The main industries in this field are Cosco, Enkay Rubber, Perfetti, Haldiram, HFCI, Martin Haris, TERI and Ranbaxy Laboratories. At present, a total of 10,236 units of these industries are running in Gurgaon and they have invested Rs 18,303 crore, thereby providing employment to over 3.58 lakh persons.

Out of these, major share is of engineering and automobile industry with 2,357 units. These units have made an investment of Rs 11,225 crore and they provide employment to about one lakh persons.

Similarly, 727 units of readymade garments and textile have invested Rs 1,432 crore and are providing employment to 84,798 people.

Rubber and Plastic industry has 405 units with an invested Rs 307 crore, employing 11,475 people and agro-based food processing industry has 55 units with an investment of Rs 440 crore generating employment for 4,400 people.

The Electronic and Electrical industry has 95 units with an investment of Rs 274 crore. These units are providing employment to 3,378 persons and 71 units of leather and footwear industry with an investment of Rs 209 crore have generated employment for 5,354 persons. As many as 33 units of Pharmaceutical industry have invested Rs 65 crore and provided employment to 1,650 persons.


Please Wait while comments are loading...