Pune emerge as Engineering, R&D and IT services powerhouse of India
With 85% of the country’s software companies development
centres headquartered in Pune, the city is poised to become the next innovation
hub in Asia shows a study by a business advisory firm Zinnov Management Consulting
and Software Exporters Association of Pune (SEAP).
The study, Advantage Pune The Innovation Frontier, which was released last week,
delves into the historical evolution and rise of Pune as the engineering, R&D and
IT services powerhouse of India, while deliberating on the way forward for the city.
Within the overall industry ecosystem, key areas of strength for Pune include banking
and financial services, insurance, IT services, automotive engineering and enterprise
software product engineering. The city employs 61% of India’s R&D employee base
for software product companies, said the study.
About 124 software product start-ups have come from Pune in the last decade. The
city has 112 development centres of multinational corporations and there are 17
Special Economic Zones all of which make it an attractive destination. Pari Natarajan,
co-founder and CEO of Zinnov Management Consulting, said, Pune has not only contributed
to the growth of the state, but also to the overall IT growth of India. We are also
seeing an explosive start-up ecosystem here, which is very unique to the city. Pune
houses close to 124 indigenous startups with business and productivity software
accounts to about 50 percent of it. In the years to come, the city can easily propel
itself to the global league through some smart marketing efforts and creating a
more vibrant Brand Pune.
Stressing on the city’s education advantage, the study finds that while Pune has
traditionally been a location of industrial engineering, it now produces a large
and diversified pool of engineering graduates every year. Pune produces over 12,000
engineering graduates every year and it is expected to further increase as more
colleges come up, the study said. The city also houses several premier research
institutions and has been witness to rapid development of infrastructure, the report
said, adding that this massive infrastructure and urban growth will attract more
multinational corporations.
Courtesy: Times of India
