Commercial & Industrial Property News Update

India - C&W Lists Ahmedabad As Top Emerging Business Destination

October 22, 2012

A listing of the top 10 emerging business destinations in India revealed that Ahmedabad attracted the highest amount of investment, said Cushman & Wakefield (C&W).

Property consultant Cushman & Wakefield's latest survey of the top 10 emerging business destinations in India found that Ahmedabad in New Delhi has racked up the highest amount of investment over the past two years.

Since 2010, Ahmedabad has garnered Rs 71,270 crore in investment dollars for the development of business and commercial facilities. The city leads in terms of cities offering long-term investment potential, said C&W, adding that the other nine Indian cities in order are Vishakhapatnam, Kochi, Vadodara, Bhubaneswar, Chandigarh, Coimbatore, Jaipur, Indore and Nagpur.

Second-place Vishakhapatnam gathered investment of Rs 58,180 crore, followed by Vadodara which attracted an investment of Rs 24,720 crore. In total, Rs 1,83,700 crore have been invested in the 10 cities.

"Ahmedabad has attracted nearly 39% of the total investments announced for these cities since 2010, followed by Vishakhapatnam at 32% and Vadodara at 13.5%," C&W said in a statement.

The survey, titled Top 10 Emerging Business Destinations in India was released by Urban Development Secretary Sudhir Krishna. It took into account infrastructure (including physical, social and real estate), economic activities and government support and initiative.

The report added that the volume of investment by various companies in these 10 cities has seen a seven-fold increase over the last two years.

The bulk of the amount invested in Ahmedabad came from the automobile and auto-components sector, followed by telecom and real estate & infrastructure.

Vishakhapatnam, with an investment of Rs 58,180 crore, saw an increase in investment from its metals and metal processing sectors, followed by in petrochemicals. Vadodara's investment of Rs 24,720 crore came, too, from similar sectors such as metals and metal processing, followed by real estate and engineering sectors.

The report said that metals and metal products manufacturing firms have contributed the highest amount of investment over the period, with a share of 39%. Power production companies came in second at 16%, while chemical and petrochemical firms contributed about 11%.

C&W India Executive Managing Director, Sanjay Dutt said, "These emerging locations represent the possible growth trajectory India's economy will follow in the next few years."

"Businesses are looking at identifying other suitable locations to setup or expand as they provide the advantage of either lower production and operation costs and access to better resources or to avail better infrastructure and/or benefits of favourable government policies," he added.

Tags: Commercial real estate, Warehouse for sale, Business space

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