Hyderabad surging as economic powerhouse of India: Savills report

Hyderabad: London-based international property consultant Savills on Sunday released a report, ‘Hyderabad: The Sprint’, which states Hyderabad is surging as the economic powerhouse of India.The report from Savills, which operates in 70 countries, highlights the economic growth of Hyderabad since the formation of a separate Telangana and the key factors that led to this growth.The economic success story of Hyderabad, according to the report, has been highly based on the four key factors of Policy Push, Infrastructure, Affordability, and Human Capital, with a fifth driver of the momentum also now working at great pace – the pin-sharp Sectoral Focus.
On Policy Push, the report says proactive government policies have powered the growth story of Hyderabad. Investor-friendly policies such as the Information Communication Technology (ICT) Policy 2.0 have contributed significantly to the expansion of MNCs in Hyderabad. The new IT policy focuses on digital empowerment of citizens, innovation, and entrepreneurship. It includes a Start-up Telangana portal which aims to be a one-stop destination for the entire start-up ecosystem of the State.“Other key policy level initiatives in recent times include Telangana Electric Vehicle (EV) and Energy Storage Solution (ESS) Policy, Space-Tech framework, statewide optical fibre network and Growth in Dispersion (GRID) policy. Similarly, TS-ipass, a single window portal for obtaining required permissions within stipulated timelines is a forward-looking initiative,” the report makes a special mention.A Savills team led by Christian Mancini, CEO Savills (APAC), Anurag Mathur, CEO Savills (India), and others on Sunday presented the report to IT and Industries Minister KT Rama Rao.“Hyderabad is now the most sought-after gateway city for global corporations cutting across sectors. It provides incomparable value-proposition whether by way of infrastructure, policy support, quality real estate or ease of living. Most companies wish to expand their footprint by increasing their presence in Hyderabad,” the Minister said.“We remain committed to creating a best in class and exemplary business hub for the next several generations. Telangana is at the forefront in identifying growth sectors and developing enabling policy frameworks to attract newer businesses. This report of Savills accurately identifies the growth drivers and emerging sectors that the Telangana government is working on,” he added.