Pune is known as the “Queen of Deccan” owing to its abundant natural resources and scenic beauty. It is located in western Maharashtra and is well known for its historical and religious places. It has a rich culture associated with it. Pune is known worldwide for its education and research sector. It is also an established IT hub and a highly industrialized city. It is one of the most developed cities in India and is a great contributor to India's economic success.
Pune is an academically oriented city with 4 universities, twenty or more engineering colleges and more than 200 other colleges. It also has many research facilities and organizations. It boasts of many renowned institutes such as Symbiosis Institute, SNDT University and others. With the government relaxing the FDI norms in the education sector, this industry offers lots of promise.
Foreign institutes are now setting up their own institutes or tying up with existing ones to establish a base in India. The education sector in Pune offers lots of promise for foreign investment.
Pune is also an IT hub with all industry majors, both Indian and foreign, having a setup in Pune. There is an IT park being developed in Magarpatta City. The Rajiv Gandhi InfoTech Park at Hinjewadi is also attracting lots of IT majors. Many other IT parks are also being set up. The proximity to Mumbai, the financial capital of India, and infrastructure is driving this boom in Pune.
It attracts about 20% of the entire industrial investment of the country. The IT exports amount to 2 billion dollars, which is amongst the highest for any city. With the IT sector continuously growing, this offers a good investment opportunity.
The real estate sector in the city is also thriving. Many people look at Pune as a second home option due to its facilities and climate. Also, rapid industrialization and growth is driving the real estate sector in Pune.
DIPP (The Department of Industrial Promotion and Policy), under the Commerce ministry, has proposed to relax the FDI norms in this sector. It proposes to remove the 3-year lock-in period on the original investment to boost the FDI flow in this sector. Thus, this is a very lucrative option to invest in for foreigners.
Many foreign banks and retail industries are also setting shop in Pune. New malls and shopping spaces have come up. With consumers becoming more receptive to foreign brands, the retail industry offers lots of growth potential.
Pune is also an automobile hub and attracts major investments both domestically and internationally.
The city of Pune is ranked 7th for its industrial development and is growing rapidly. All transport avenues such as road, rail and air are being spruced up. The Mumbai-Pune expressway is a major success. A new metro and airport are being planned to aid the growing demands of this city. Hence, this is also a good sector to invest in.
Pune offers a lot of opportunities for foreign investments. All these areas are very lucrative and offer great scope and returns on investment.