Jaipur Economy

Primarily known for its culture, heritage, architectural marvels, textiles, forts and palaces, Jaipur is now experiencing rapid economic growth. Its close proximity to the capital city Delhi is one reason because of which people are coming and settling down here for work. The Pink City Jaipur is one of India’s fastest growing mega cities as well.

Most of Jaipur’s economy is fueled by tourism, gemstone cutting and jewelry manufacturing, luxury textiles, small scale industries, IT industry, art and crafts and more. Jaipur is also emerging as a promising global outsourcing city.

Global Outsourcing Industry

Jaipur is emerging as a promising global outsourcing city. It ranked 31 among the 50 Emerging Global Outsourcing Cities in 2008. Companies like the Deutsche Bank Group Jaipur, Genpact and Infosys BPO Ltd. have their BPOs in Jaipur. Infosys Ltd. has its Software Development Centers here. Mahindra World City, which is a joint venture of Rajasthan government’s RIICO and the Mahindra group, hosts one of India’s largest IT SEZ. This SEZ, which is spread across an area of approx. 3000 acres, consists of a light engineering zone, textile and other industry zones. Once fully developed, this Mahindra SEZ will act as the largest job provider for Jaipur. The World Trade Park has also been developed with an aim to boost the economy of the city.

Tourism Industry

Jaipur’s tourism has widely contributed in boosting up its overall economic growth. The heritage city Jaipur lures a huge number of tourists each year with its fascinating forts and palaces, historical monuments, traditions and culture, parks, vibrant festivals, museums and temples. Some of its major tourist attractions are the Jal Mahal, Amber Fort, Sisodia Rani garden, City Palace, Jantar Mantar, Hawa Mahal, Galtaji, Birla Mandir, Jaigarh, Nahargarh, Teej Festival, Elephant Festival and the Kite Festival.

Jaipur city’s municipality and the Rajasthan government, together work on preserving and maintaining the national heritages of the city, so as to attract more and more tourists.

Hospitality Industry

Jaipur’s tourism has been a boon to its hospitality industry as well. The increasing number of tourists who visit the city every year, have led to the launch of a large number of hotels, resorts, guest houses and lodges in Jaipur. It has also given rise to several food and beverage joints in the city, including restaurants, cafes, tea shops and more.

Renowned hotels and resorts like the ITC Rajputana, Choki Dhani Resort, Hotel Clarks Amer, Jal Mahal Palace, Rambagh Palace and Holiday Inn, are known for their world-class standards and unmatched hospitality. Similarly, some of the most popular food joints in the city are Barbeque Nation, Tapri, Jal Mahal, Little Italy, Kanha, Niros and the Peacock Roof Top Restaurant.

Handicraft industry

Jaipur’s handicraft industry is also pretty strong. Several tourists, especially foreigners, buy a lot of hand-crafted products from here. The city is known for its artistic ‘bandhani’ work, stone work, handicrafts, antique jewelry items, gems, silver jewelry, decorative pieces, bangles, pottery, carpets, textiles, leather and more.

Jaipur is a home to several traditional and contemporary industries that manufacture and deal with Rajasthani clothes, blue pottery, leather-ware, footwear and handicrafts. The city is home to a large number of talented artisans, who have together helped Jaipur’s handicraft industry to grow.

Gems and Jewelry Industry

Rajasthan’s gems and jewelry industry is predominantly concentrated in Jaipur. Jaipur has been known for its fine gem cutting, polishing and jewelry manufacturing since centuries. The city is a major manufacturer and exporter of both precious and semi-precious stones. Some popular gems include emerald, garnet, topaz and amethyst.

Jaipur is a global center for supply of finely cut and polished emeralds today. It is also famed as one of the largest exporters of diamond, gold and stone jewelry. The city is known for its handmade Kundan and Meena jewelry as well.

IT Industry

Jaipur’s IT industry is growing with the launch of several software companies in the city. These companies do all IT related works including development and maintenance. Many of them are working for clients based overseas (mostly in US and UK). These software companies in Jaipur execute all the software related works (development, maintenance, consultation and production).

Jaipur’s growing IT industry is not only important to the city’s economic upgradation, but it will also create more career opportunities for youngsters. One reason behind the fast development and rapid growth of IT companies in Jaipur is the availability of human resource. We have a lot of skilled developers and software professionals in the city. Even professionals from other cities do show willingness to relocate to Jaipur. This means there is no lack of human resource and talent for the constantly booming IT companies in the city.

I wouldn’t deny that India’s core IT industry still lies in Noida and Bangalore, but Jaipur is also picking up fast. Some of Jaipur’s top IT companies include Dream Soft Technology, HCL Infosys Ltd. and A3 Logics India Ltd.

Conclusion

Overall, the city of Jaipur is progressing rapidly at a pretty good pace. It is expected to pick up with the other major cities of the country when it comes to economic development.