Economy of Lucknow

Lucknow Ranked 6th among all the cities in India for fastest job-creation,[1] The city is a major market and trading place in northern India and an emerging hub for producers of goods and services. Being the capital of state, the Government departments and the public sector undertakings are the principal employers of the salaried middle class. Liberalization has created many more opportunities in the business and service sector and self-employed professionals are burgeoning in the city.

Structure and growth in employment

The distribution of main workers in 2001 by different categories reveals that almost 21 percent are cultivators while another 6 percent are agricultural laborers. This is quite understandable in the district where rural population percentage is low as 37 percent. What is remarkable is that the share of population in rural areas has registered a decline from about 37 percent in 1991 to 36 percent in 2001. In the same row cultivators declined from 29.73 percent in 1991 to 21.06 percent and agricultural labourers declined from 8.70 percent to 6.50 percent in 2001. Agricultural fervor of the workforce shows a decline in favour of non-agricultural activities in the state.

Business headquarters

The city is the headquarters of both:

The other business-promoting institutions that have a presence in Lucknow are the Confederation of Indian Industry (CII) and Entrepreneurship Development Institute of India (EDII).

Manufacturing and processing

Among the bigger manufacturing units, Lucknow has:

The city's small-scale and medium-scale industrial units are located in the industrial enclaves of

some medium-small industrial units are-

Real Estate

Real estate is one of the many booming sectors of the Lucknow's economy.Lucknow has one of the fastest growing property rates in almost all the areas due to redevelopment of several areas (like Gomtinagar and Alambagh) by the present government. There are several malls like:

Traditional trade

Emerging businesses

The Ministry of Communications and Information Technology set up Software Technology Parks of India[4] in 2001. Currently, biotechnology and information technology are the two focus areas to promote economic development in and around the city. The Ministry of Science and Technology is setting up a biotech park[5] in the city. Lucknow is also one of the selected cities for the Smart City project of STPI.

References

  1. "The 10 fastest job-creating cities in India". Rediff.com. Retrieved 3 October 2010.
  2. Roger Protz (28 March 2007). "Cheers! | Life and style". The Guardian (London). Retrieved 26 March 2010.
  3. "Lucknow crafts". Archived from the original on 11 January 2006. Retrieved 23 October 2006.
  4. lucknow.stip.in
  5. "Biotech city Lucknow". Retrieved 23 October 2006.
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