Pune has evolved as the most favored business destination for companies keen on expanding operations in India. The city has also fast emerged as an IT and education hub, attracting many overseas companies to set up their base in the city.
Pune and Information Technology are already inseparable concepts today, with the city having over 50 established and prominent IT-eS companies with their main offices here such as Accenture, Amdocs, AtoS, Capgemini, Cognizant, Deloitte, GlobalLogic, Hexaware Technologies, Infosys, Larsen & Toubro Infotech, Mastek, MphasiS, SunGard and Symantec. These companies generate scores of jobs each year, for Pune’s highly qualified software professionals, in addition to jobs in the BPO sector.
It is a well-established fact that Pune is one of the most preferred software and business-process outsourcing destinations in the country.
Companies prefer Pune over Bangalore because of lower real estate costs involved in setting up business here. Companies that are looking to set up business in Pune can easily avail of business loans and buy property either within the central business districts (CBD) of the city or in emerging locations that are conveniently close to the other companies, which in turn helps boost business.
With commuting distances being significantly lesser when compared to cities like Mumbai, Bangalore and Delhi NCR, the attrition rate from management point of view is relatively better. . Pune offers its working population the perfect work-life balance and this plays a very significant role in talent retention and overall employee satisfaction, in turn boosting business. Pune’s professionals are a far more content lot, than in any other Indian city.
Pune is also fast emerging as the hot-bed for start-ups and incubation centres. According to a study more than one-fifth of India’s start-ups are belong to Pune. 21% are product start-ups and 11% of start-ups are under NASSCOM’S programme 10,000 Startups. A study called ‘Think Pune’ by IIM-Ahmedabad’s CiiE along with PuneTech, TiE Pune, SEAP, NASSCOM and POCC claims that Pune is home more than 350 innovation and incubation centres.
The study also says that Pune has a good mix of startups focusing on projects like enterprise, infrastructure, biotech, and clean-tech.
The city also boasts of mature entrepreneurs with over 80% having prior corporate or start-up experience. This is also one of the reasons that most of Pune’s start-ups are already generating revenues.
Pune will eventually lead other cities in the matter of business sweepstakes, and there is no time like the present to stack all bets in Pune’s favor.