The city of Pune dates back to the 6th century, and historically traces its phenomenal growth to the rise of the Maratha Empire and the rule of the Peshwas. With the independence of India, came a spurt of development in Pune. The years between 1950 and 1960 witnessed an industrial revolution of sorts, setting the wheels in motion for the city’s growth. By the 1970s, Pune was well on the path of becoming a major engineering city in India, with home-grown and international companies setting up shop here, and creating jobs along the way.
In the early 2000s, corporate houses in Tier I cities chose to expand their footprints to Tier II cities – Pune being one of them, owing to a variety of reasons such as market downturns and escalating costs of running businesses in Tier I cities. This is when, the city, already known as the “Oxford of the East” soon began waking up to the emergence of the IT sector. Today, Pune is home to over 350 innovation centres and start-up firms, IT and off-shore divisions of large international banks, and global IT firms such as IMB, Eaton, BMC Software, Accenture, TCS, Infosys, Wipro and many more.
Pune has emerged as the 7th largest industrial hub in India and the 2nd largest in Maharashtra, after Mumbai. The city’s vibrant and dynamic culture, educational institutions and job opportunities attract many students and migrants each year from across India and overseas. This has propelled its growth and led to the development and construction of vital infrastructure and roads, residential projects, and retail and office spaces to meet the ever-growing demand for housing, entertainment, and trade and commerce. Pune’s growth has been exponential in the last decade, to say the least!
Pune’s diverse history is closely linked to the ascent of the Maratha empire of the 17th and 18th centuries, during which time it became the political seat of the Indian subcontinent…