Business and Economy
Manufacturing Sector of Ahmednagar
It is the manufacturing and service sector that Ahmednagar is keenly looking at to derive its economic growth in the coming decades. Maharashtra Government and Ahmednagar’s local administrators are fully aware that development of these two sectors is very critical for making Ahmednagar an economically potent player and to compensate for low economic growth generated by lackluster agricultural sector.
On the manufacturing side, Ahmednagar has already made an immense progress. The huge MIDC (Maharashtra Industrial Development Corporation) area located in the outskirts of Ahmednagar city is already home to over 200 industries including around 42 large scale industries.Acclaimed Indian companies like Sun Pharmaceuticals Ltd, Larsen & Toubro Ltd, Crompton Greaves Ltd and Kinetic Engineering Ltd have their factories in the MIDC area. Besides, other acclaimed Indian companies like Videocon and Kirloskar have also their factories in other parts of Ahmednagar city.
Needless to say, today these industries are backbone of Ahmednagar’s economy, as they generate huge employment for local people. It is estimated that over 1 lakh people of Ahmednagar city are employed in various industries located in MIDC and other areas of Ahmednagar city. However, Ahmednagar’s decent success in industrial sector is pretty much hampered by its lackluster performance in the service sector. In fact, apart from few banks, finance companies and software companies Ahmednagar has nothing to show on service sector front. In order to give much needed boom to the service sector Maharashtra Government has constructed an IT park in the MIDC area, but any major Indian IT companies or international IT companies is yet to open a branch here. Ahmednagar’s failure in the service sector can be mainly attributed to the lack of required skills and also administration’s apathy.