University of rostock, Public university in Rostock, Germany

Major exporter, booming IT and startup hub of M'wada, 5000 MSMEs and major industrial giants make city a thriving industrial hubVAIBHAV PARWATAurangabad, Aug 11:Aurangabad is a success story of a balanced industrialization. A city with no industrial background is today a thriving hub of industrial activity. Today Aurangabad has a renowned industrial area and is divided into Waluj, Shendra, Chikalthana, Railway Station, Paithan and now DMIC.The industrialization in Aurangabad started in the mid 70’s with companies like Lupin, API, Nirlep and Garware. The major industry sectors in Aurangabad are automotive, auto components, pharmaceuticals, breweries, white goods, appliances and now going for Delhi-Mumbai Industrial Corridor (DMIC). Few major companies that have their unit in the city are Bajaj Auto, Wockhardt, Endress Hauser, Varroc, Skoda Auto, Good Year, Siemens, Audi, MAN Diesel, Sterlite, Goodyear, Badve engineering and Garware. The district has around 6000 companies that employ nearly 1.5 lakh people and exports goods worth Rs 15000 crore.Ranked among top five citiesAurangabad has been ranked among world's top five capital cities of global innovative manufacturing and competes with cities like Beijing-Tianjin, Mumbai, Seoul, Boston and Dresden. The city is also a strong force in manufacturing sectors such as automotive, engineering, pharmaceuticals, breweries, food products, plastic, rubber, paper products and chemicals.Booming IT parkThe IT sector promotion that was initiated in Aurangabad since year 2003 along with the formation of HTPI office and IT park in Chikalthana, now hosts 50 IT units employing around 4000 people and exporting services worth Rs 40-50 crore per year to USA, Germany, Netherlands, among others.Major export hubMore than 400 companies from the city's industrial area export automobile, pharma, agricultural and polyester film products to more than 80 countries. Aurangabad annually exports products worth Rs 15,000 crore. There are some MSMEs that export to as many as 40 countries. This is 6 percent of Maharashtra's exports and 0.9 per cent of the country's exports. Bajaj Auto the largest exporter, exporting 1.5 lakh two-wheelers and 20,000 rickshaws from Aurangabad.5000 SMEs generating 85,000 jobsThe growth of Micro, Small and Medium Enterprises (MSMEs) in Aurangabad began with the establishment of Bajaj Auto. The ancillary units have grown rapidly. At present, Aurangabad has 5000 MSME units generating about 85,000 jobs. The SMEs supply parts to companies like Hero, Honda, Yamaha, Bajaj and other four wheelers manufacturing companies. The MSME sector in the country contributes to 30 per cent of the GDP. Hence the government should pay more attention to providing facilities and infrastructure to the SMEs, said Massia president Kiran Jagtap.Sector's record achievementsAurangabad has been ranked 885th from 1000 cities around the world in the start-up ecosystem. The city has also received 36th national ranking and 42nd in regional ranking. Startup Blink has recognized the city in the list of cities with the best environment for startups. The city has also received 36th national ranking and 42nd regional ranking in the cities with the best environment for startups and industrial growth.Brimming startup hubCity's start-up scene has been brimming with confidence and intense activity over the past few years, but 2021-22 saw a new high. A record number of start-ups have been registered in the district with the overall tally rising to 774. Aurangabad stands third in Maharashtra with 774 registered and 220 recognized startups. The Marathwada Accelerator for Growth and Incubation Council (MAGIC) has been instrumental in incubating and promoting startups from Marathwada since 2018. At present MAGIC is incubating 52 Startups with a total investment of Rs 50 crore, said MAGIC director Ashish Garde.Auric attracts investment of Rs 7000 croreTill date, the Shendra phase of the Delhi-Mumbai Industrial Corridor has bagged investments of Rs 5,400 crore from 175 companies. At present, 12 companies have started production and 50 units are under construction. The Bidkin phase of AURIC has bagged Rs 1500 crore.

University Of RostockFOLLOW

University of rostock, Latest News

Berlin, Aug 23 Twelve gas suppliers in Germany have registered claims for payments from funds to be collected ... ...

Seoul, Aug 22 As the South Korean tech giant plans to expand its home appliance business in the ... ...

Aurangabad, Aug 21: The Alumni Association and Career Guidance Cell of Azad College and ‘Our Voice’ (US-based NGO) jointly ... ...

Frankfurt (Germany), Aug 21 Europa League winners Eintracht Frankfurt have signed midfielder Eric-Junior Dina-Ebimbe from Paris Saint-Germain, the ... ...

Berlin, Aug 20 The number of daily Covid-19 infections in Germany continues to fall, but the infection risk ... ...

New Delhi, Aug 19 Beauty specialist Parul Garg and her sister, AnubhaVir Sharma, introduce their own range of ... ...

Dortmund (Germany), Aug 18 German football league (DFL) advisory board chairman Hans-Joachim Watzke said on Wednesday there would ... ...

Major exporter, booming IT and startup hub of M'wada, 5000 MSMEs and major industrial giants make city a thriving ... ...