Nashik Important Investment Destination Of Maharashtra, India
The city of Nashik is located in the State of Maharashtra
. The city has a pleasant climate. It lies on the banks of the Godavari River and the western side of the Deccan Peninsula. Nashik is one of the most important cities of the state after Mumbai and Pune and an important destination for attracting foreign investment in India.Today, Nashik is one of India's the most rapidly growing cities. The main industries that have contributed to the economic growth of the city in the last several years are manufacturing, engineering and agriculture.
The manufacturing and engineering industry is so well developed in the city that it can now boast the of production of light to heavy - all kinds of engineering products such as airplanes, automobile parts and other ancillary engineering components.
Agriculture is an important part of the Nashik economy. The city is a major exporter of onions, table grapes and tomatoes. Due to the high yields of certain vegetables here, there is an immense potential for the food processing industry also. Nashik is also increasing the production of strawberries and some flowers, such as roses, in a big way.
The main industrial zones in and around Nashik are Ambad, Dindori, Igatpuri, Satpur and Sinnar. The city of Nashik has undergone tremendous changes in the last 15 years. This has largely been due to the Maharashtra Industrial Development Corporation which converted many parts of the city, such as Ambad and Satpura, into major industrial centers.
Nashik has also grown into a major wine producing city. Nashik Wine Park is located in the district of Nashik. It is looked after by the MIDC (Maharashtra Development Industrial Corporation). MIDC serves to provide the wine park with all the facilities and amenities, such as water supply, road network, power supply and telecom, to create an environment conducive to more investment in this sector. It produces quality wines which have been praised all around the world. The government of Maharashtra has declared the Nashik Wine Park a small-scale industry with full exemption from excise duty and other tax concessions for a period of ten years. Wine production in Nashik is witnessing exponential growth thanks to the support it is getting from the government. It is a very profitable sector for investment.
Nashik is also home to several small-scale industries such as blankets, wooden artifacts, leather footwear, earthenware, tiles and bricks. Some of the large-scale industries are the rice mills, sugar industries and oil mills. Other important industries that contribute to the revenue of the city are engineering articles, dyes and chemicals, electrical parts and electronic equipment.
The government of Maharashtra has also declared that it will develop Nashik as an IT hub. Several IT parks have been proposed to come up in the city.
The city offers innumerable options to a business investor looking to invest his money. Nashik is expecting an investment of nearly Rs. 8000 crore in the near future from multinational, national and state establishments. The coming decades are going to change the economic scene of the city drastically thanks to various small and medium sized enterprises that are expected to come up here.
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