Economy – Economy is driven primarily by cotton, electrical goods, jewelry and chemical industry. Over 1200 MSMEs are currently existent in Bhopal. Tourism is also a thriving industry with several tourist spots such as UNESCO heritage site, lakes, etc.
SALIENT FEATURES -
Bhopal is the 14th largest and 3rd greenest city in India
The city was also ranked 3rd in best governance and administrative practices by a renowned Not for profit organization (Janagraha).
It is also ranked as the 27th least polluted city amongst 102 cities in Asia
DETAILED PROFILE -
Bhopal’s economy is essentially divided into modern and traditional industries. MSMEs which accounts for more than 7100 cr of exports need a special focus as they can generate employment opportunities and enable skill development.
Despite heavy investment in electrical machinery and transport sector, the city’s image is guided by tourism, governance, education and health care.
Many national and State level Government Institutions and financial organizations operate from Bhopal. BHEL, the largest manufacturing and Engineering enterprise has its biggest unit in the city.
Mandideep, the industrial suburb of Bhopal houses many esteemed companies such as Eicher, Crompton Greaves, Procter & Gamble, Larsen & Turbo, Fujitsu and HEG.
Madhya Pradesh State Electronics Development Corporation Ltd. is developing a Software & Hardware Technology Park in Bhopal. Multinational companies (MNCs) such as Taurus Microsystems, Fujitsu and Genpact are planning to set up their centers in this Technology Park.
The industrial sector is currently providing direct employment to around 28000 people and this can go up to 45000 in the next 3-5 years.
Bhopal is home to some of the nationally renowned research facilities and academic institutions. ISRO’s Master Control Facility, AIIMS, National law academy, MANIT and SPA along with 200 engineering, management and medical institutions that allows Bhopal to compete into the league of cities with the unique combination of industrial presence, research and big talent pool.
Bhopal’s beautiful topography, scenery combined with good governance, has led the city to be rated as one of the most livable and happiest cities. The city seems to have high potential for tourism and is capable of developing an environment conducive to business growth which will enable Bhopal to be a front-runner in the next economic wave that will be fueled by the Smart City Mission.
Bhopal is strategically placed at the center of India with good rail, road and air connectivity. This is a basic criteria required to attract investment and business.
Bhopal has more than 1200 MSMEs. High investments exist in electrical machinery and transport equipment business.
Being the state capital, the city attracts high investments and special attention from the government as it drives regional economy. Its proximity to Mumbai also improves access to the financial capital of India.
Bhopal is home to some of the most renowned institutions of national repute such as Maulana Azad National Institute of Technology, National Law Academy, School of Planning and Architecture, IISER making it one of the greatest education hubs in the country. It houses various institutions and establishments of national importance like BHEL, ISRO’s Master Control Facility etc.
Bhopal is popularly known as the city of lakes with fourteen lakes making it a tourist attraction. The plenty of heritage buildings and centers for art and culture such as Bharat Bhavan or National Museum of Man, which makes tourism a major attraction in Bhopal.
Three UNESCO sites within 50 kms of the city and further add to the potential for tourism.
Insufficient core infrastructure especially in the domain of sanitation and waste management is a major concern leading to cleanliness issues.
The urban sprawl in Bhopal is yet to be controlled. Currently, population of 2 mn is spread across 450 sq kms of municipal area and planning area of 800 sq km. unplanned sprawl is posing serious challenges to infrastructure sustainability.
Travel demands are rising rapidly. Very high growth rate of vehicular population and fewer modes of local transport with lesser coverage area are leading to congestion.
Lesser employment opportunities for graduating students are forcing them to seek employment outside the city. So while the city supports education, it does not derive complete benefits of talent development.
75% of the population are in LIG and EWS Category, while 25% of the population are living in slums and lacks social development.
There is tremendous potential for the existing land pool with the government to be utilized productively for creating residential/commercial centers.
There is immense scope for development of the tourism industry and related segment such as hotels, food chains and travel agencies.
Industries looking to start establishments in Bhopal will have plenty of fresh manpower available from local engineering, medical and management institutions
Creation of Health/Medical Hub by creating subsidiary health infrastructure in support of AIIMS may transform Bhopal into an important medical center of central India.
Urban sprawl consumes resources unnecessarily as it requires expansion of utility networks and greater travel times across the city. This has to be managed through sustainable improvements in urban form.
While several education institutes are available producing fresh talent, there may be a need to improve the quality of education and standard of curriculum to meet the industry demands.
Cleanliness is a major issue and requires investment in infrastructure and monitoring. Projects related to waste management and sanitation require high capital investment in the absence of creative funding mechanism.