Pune : Economy

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Pune : Economy

Erstwhile recognized as Poona or Punya nagari, Pune is amongst the 8th metropolitan city of India and the second largest city in the state of Maharashtra after Mumbai. The history dates back to 937 A.D. when Chhatrapati Shivaji, invader of Maratha Empire spent years of his youth age and then later played an important role in establishing the city as one of the major corner stone of Maratha dynasty during his tenure.

Today Pune is emerging as a pioneer educational hub with well equipped educational facilities. Majority of population is Hindu and therefore one can find an array of temples in every corner of the city. Pune is regarded as the centre of Maharashtrian culture it is the place where cultural values and modernization goes hands in hands. Pune is up coming as the most developed centre for IT development. As the result of this city widens the gates for new employment opportunities and every year huge number of people from different parts of city and world come here with different hopes and wishes. This makes the city as the city of cultural diversity.

Recent developments during last few decades have placed Pune in the line of one of the most developed city for industrial development. Pune has encouraged the establishment the industrial centre for automobile industry. Pune is the home town of the world’s largest two wheeler Bajaj Auto. Apart from this the manufacturing plant of India’s largest car manufacturer Tata Motors is located in Pimpri, the suburb of Pune. Apart from these the manufacturing units of Kinetic Engineering, and Force Motors Ltd (earlier known as Bajaj  Tempo) are also located here.

The world's second largest forging company (Bharat Forge Ltd) is located here. Cummins Engines Co Ltd has established its Research & Technology India unit in Pune along with its manufacturing plant.  Other Engineering companies having their manufacturing unit in Pune are Alfa Laval, Sandvik Asia, Thyssen Krupp (formerly Backau Wolf), KSB Pumps, Finolex, Greaves India, Forbes Marshall, etc.

The development of IT sector in India opened the doors for development of software industries at pune. Various major Indian software companies have their office located at Pune to name few companies like Xansa, TCS, Infosys, Wipro, Satyam, KPIT Cummins, Persistent Systems and Kanbay Software have their branches in Pune. Besides this the various Software Technology Parks established by companies like HSBC Global Technology, IBM, Siemens, EDS, I-Flex, Cognizant,Symantec and Zensar.

The technological developments have established Pune as the most happening destination for the Business Process Outsourcing (BPO) centre for the companies like Convergys, WNS, Progeon, EXL and MphasiS. Thus creating the job opportunities for the upcoming youth. The government of Maharashtra have set up various developmental programmes to initiate the latest technological developments in the city and to make the entrepreneurs about the latest industrial policy of the state to set up their units in city.

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