RESHAPING THE ECONOMIC LANDSCAPE
BOOMING REAL ESTATE MARKET: Increased demand for housing and commercial spaces is driving rapid real estate development
IMPROVED INFRA: Government initiatives that focus on better connectivity, transportation, utilities, etc., are helping transform these cities
MANUFACTURING HUBS: Many Tier II cities are becoming centres for manufacturing and industrial growth
CONSUMER MARKET: A growing middle class with rising disposable incomes is presenting a significant opportunity
EDUCATIONAL DEVELOPMENT: Educational institutions and skilling schemes are fostering a skilled workforce
INDIA'S GROWTH STORY is no longer confined to its bustling metropolises. Smaller towns are stepping into the spotlight, emerging as dynamic contributors to the nation's economy. Fuelled by strategic government initiatives, affordable real estate, and a wave of infrastructure upgrades, cities like Meerut in Uttar Pradesh, Vapi in Gujarat, Haldia in West Bengal, and Tirunelveli in Tamil Nadu are rewriting the script of Tier II city development.
In these cities, prices of real estate have jumped near new infrastructure projects like roads, railway lines, and, perhaps most symbolically, with the arrival of airports.
While challenges persist, the potential for these cities to attract organised players in hospitality, retail, and other sectors is undeniable.
So, what makes these towns tick?
Meerut
Meerut, a city once considered a quiet town in Uttar Pradesh, India's most populous state, has undergone a remarkable transformation over the past two decades. Located just 70 km from Noida, which is part of the Delhi-National Capital Region, Meerut is now emerging as a hub for healthcare, education, business, and infrastructure development.
Denne historien er fra January 19, 2025-utgaven av Business Today India.
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Denne historien er fra January 19, 2025-utgaven av Business Today India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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