File:Bhopal city.jpgA pictursque overview of Bhopal city.Indian Institute of Forest Management, Bhopal
The economy of Bhopal, is considered as one of the fastest growing economies in India with the city capitalizing on the geographic advantages of being at the center of the country. The economy of Bhopal represents a multi-dimensional growth in the sectors of logistics, trade, tourism, industrial, healthcare, educational and real estate. As per the Department of Planning, Economics and Statistics (Madhnya Pradesh), the nominal GDP of Bhopal district was estimated to be at Rs. 30,467 crores in 2016-17.[1]Mandideep (23 kms from Bhopal) is considered as the second most prominent economic zone of Madhya Pradesh, after Pithampur. While, Bhopal is the second most productive centre to the economy of Madhya Pradesh after Indore.[2]
Bhopal district is the most urbanized district in the state of Madhya Pradesh, with nearly 80% of its population marked as urban.[3] The city's industrial base is predominantly diverse with the presence of various small, medium and large enterprises. These industries are primarily operational in the works of textile, pharmaceutical, automobile, plastic, electrical goods, cotton, chemicals and jewellery. Old city houses several Namkeen production units along with handicraft businesses promoting indigenous cultural and traditional products.
The IT sector in Bhopal is also growing at fast pace, with many national and international IT firms establishing their centers.[4] In 2021, Bhopal was also ranked under top 10 most livable capital cities in India.[5]Bhopal has been consistently ranked number one in the implementation of the Smart City Project in India.[6]
Due to the advantage of its location, Bhopal is considered as a good option for the purpose of logistics.[7] Bhopal is witnessing increased demand in warehouses because of its central location in state as well as country and due to excessive consumer outlook for commercialisation.[8]
Rani Kamlapati Railway Station, which is India's first railway station built as per the PPP Model, is situated in Bhopal City.[9] Bhopal city also enjoys strategic advantage of having exemplary railway connection with entire zones of the country, as Bhopal Junction itself handles more than 220 trains daily.
Rani Kamlapati Railway Station, BhopalBhopal Metro, which is an under-construction rapid transportation system for the city is expected to start its operation by the end of 2023. Bhopal Metro has completed 70% of the construction work for the priority corridor till August, 2021.[10] Recently, the Madhya Pradesh government also allotted state budgetary support for the expeditious completion of the Phase-1 of project with around 28 Kms metro under construction.[11]
Bhopal's Raja Bhoj Airport is connected with all the major cities in India. In August 2021, the Union Government selected the Bhopal Airport for privatization in 2024, with the purpose of capitalizing the high capacity of the airport in terms of the significant passenger traffic and cargo operations.[12]. Bhopal airport has seen phenomenal growth in cargo operations just in a span of one year of its functioning.[13]Bhopal Airport is also set to get the Maintenance, Repair and Overhaul (MRO) facility due to its central location in India. Proposals already invited from private firms.[14]
The industrial areas of the city cover four zones marked by the state government for the promotion of the manufacturing capacity of the city. The largest zone is the Mandideep Industrial Area situated at the national highway connecting Bhopal and Nagpur. Mandideep houses numerous pharmaceutical, manufacturing, electrical, automobile, and textiles companies. The other industrial zones in Bhopal Metropolitan Region include Bagarauda AKVN, Tamot Plastic Park and Acharpura Textile Park with the close proximity of Bhopal Airport. Mohasa Babai is an upcoming industrial area in the Greater Bhopal Region.[15] Other industrial areas of Bhopal include Govindpura Industrial Area and BHEL Township Bhopal. In 2020, Volvo Eicher opened its manufacturing unit in Bhopal.
Bhopal's manufacturing units are predominantly situated in three zones of Govindpura Industrial Area, Mandideep and BHEL. Manufacturing units in Mandideep include HEG Limited, Procter & Gamble, Lupin Limited, Eicher Tractors, Insulators and Electricals Limited, Tafe Motors And Tractors Limited, B. S. Engineering Works, etc.[16]. Some other industries in and around Bhopal Metropolitan Region include:
The government of Madhya Pradesh is now promoting industries in the Greater Bhopal Area, where industrial towns are being set-up at crucial highways of the state. These towns include the Sehore Industrial Park, Tamot Industrial Area and Mohasa Babai Industrial Area in Bhopal Division. Budhni town in Sehore district is another emerging industrial area situated at Bhopal-Nagpur highway. Textile companies like Trident Group and Vardhman Industries are already operating their units in the town.[17] Recently, the Trident Group also expressed its desire to invest Rs. 6500 crore for agro-based composite mill.[18]The state highway passing through Budhni town is also set to get connected with the Delhi-Mumbai Expressway.[19]
Bhopal is home to well-known educational institutes in India and has a prominent healthcare infrastructure. Bhopal houses numerous reputed and national importance institutes which include AIIMS Bhopal, National Law Institute University, Maulana Azad National Institute of Technology, Indian Institute of Information Technology (IIIT) Bhopal, Indian Institute of Science Education and Research Bhopal, Institute of Hotel Management Bhopal, Indian Institute of Forest Management, etc. As per All-India Survey on Higher Education complied by the Ministry of Human Resource Development, Bhopal district is regarded under top 10 districts of India in terms of maximum number of colleges.[20] The National Judicial Academy (India) is a training institute located in Bhopal primarily concerning training for judicial officers who are then deputed in various High Courts & Supreme Court.
Bhopal's healthcare sector has seen rapid growth in recent years with around the corner possibility of becoming a medical hub. AIIMS Bhopal, Chirayu Group, Bansal Group, BMHRC, GMC Hamidia are some of the prominent names of the city's healthcare infrastructure.
Bhopal is classified as an important tourist destination not only in Madhya Pradesh but in entire India, with numerous lakes, dams, greenery, and historical sites being the center of attraction. The city is a unique blend of cultural heritage sites, natural beauty, and modern infrastructure. Tourist destinations in and around city attracts national as well as international visitors. These destinations include the serene Bhojtal lake, Bhojpur temple, Taj-ul-Masajid, Van Vihar National Park, Bhimbetka, Sanchi Stupa, Ratapani Tiger Reserve, Pachmarhi Hill Station, Madhya Pradesh Tribal Museum, Indira Gandhi Rashtriya Manav Sangrahalaya, etc.
Bhopal is also a hub of lavish marketplaces with various national and international brands operating their business in the city. Well known marketplaces of the city include New Market, Bairagarh Market, DB City, Chowk Bazar etc. Many national and internationals hotel brands also operate in Bhopal. These include Courtyard by Marriott, Radisson Bhopal, Taj Lakefront, Jehan Numa Palace, Noor-us-Sabah, and many more.
Bhopal has emerged as a topmost film shooting destination in recent years which thereby contributes immensely to the economy of Bhopal.[21]. The Madhya Pradesh government has indicated strong inclinations to provide support to this industry by providing subsidies to the production houses for the films being shot in and around Bhopal.[22]
Eminent Bollywood personalities have also expressed that Bhopal houses untapped possibilities to become a favourite destination for film shooting industry. Setting up of a Film City and a Film Academy is on the cards to be set-up in the Bhopal.[23]
Bhopal also houses many domestic and international software development and IT companies. These include Sutherland Global Services, ISoft InfoTech, Soluzione IT Services, Netlink Softwares Pvt Ltd., Caresoft Inc India, Osmo IT Solution Pvt Ltd., and many more. Recently, IT giant WIPRO expressed its intention to open its new software development center in Bhopal.[24]
India's first multi-skills park known as Global Skills Park is under construction within the city and is proposed to get completed in 2022. The Global Skills Park is an important initiative in the service market in India, where vocational skills are provided to make workforce employable as per industry demands. Total investments of Rs. 1548 crore expected in the mega-project.[25]
US based company Interups has invested in the Rani Kamlapati Railway Station face-lift project. The project has resulted in total investments of Rs. 450 crore and provides space for heavy corporate structures around the station.[26]
IT giant Wipro chairman, Azim Premji has announced investments in Bhopal for opening the country's second Azim Premji University. A land of 50 acres has already been alloted to the group in Kanasaiya. The total investments outlay are expected to be more than Rs. 1000 crore.[27]
Information Technology Consulting Company Tata Consultancy Services has expressed its intention to invest in Bhopal IT Park. Land allotment expected to be completed by the end of 2021.[28]
Bhopal is also an expanding ground for startups in central India. Many IT companies, automobile and corporate legal firms have been established in the city. These include Netlink Software, Electric Scooter manufacturer Enigma, IT Fusion, Surevin BPO, etc.[29]
Bhopal is home to various scientific and strategic institutes which are of national importance in accordance with the security matters. The Atmospheric Research Testbed (ART) located in Silkheda Village in Sehore District, with just 50 Kms distance from Bhopal, is a facility to examine tropical clouds resulting in more accurate predictions for Monsoon.[30] The central location of Bhopal in entire country has been the prominent reason for establishment of this apparatus within its vicinity. Bhopal also serves as one of the venues for the Indian Space Research Organisation (ISRO) Master Control Facility (MCF), the other being located in Hassan, Karnataka. This facility is responsible for monitoring and controlling geostationary and geosynchronous satellites launched by ISRO.
↑Records, Official. "Estimates of District Domestic Product Madhya Pradesh"(PDF). Department of Planning, Economics and Statistics, Govt. of M.P. Directorate of Economics and Statistics, Madhya Pradesh. Retrieved 19 October 2021.
