At the southern end of Andhra Pradesh, Sri City, a world-class Integrated Business City, completes a vibrant decade of activities. The area is a witness to industrial production’s steady growth, taking a massive leap from conventional agriculture.
A Special Economic Zone (SEZ), Domestic Tariff Zone (DTZ), Free Trade Ware Housing Zone (FTWZ) and Electronics Manufacturing Cluster (EMC) The emergence of Sri City, the world-class Integrated Business City, in a strategic location 55 km northern Chennai, in 2008 developed the lifestyle of thousands of public in a range of 100 sq km in the Chittoor and Nellore districts of Andhra Pradesh.
Its gateway prevails onward the NH-16, near Tada township in Nellore district, and in the Varadayyapalem and Satyavedu Mandals of Chittoor District, the business/industrial/leisure/residential areas are all scattered. The area was one of the most backward regions in the state before Sri City came into existence.
There did several industries barely in this area before the advent of Sri City. The region has become a bustling region over the years, with investments in Sri City, while enjoying local support due to job development and overall improvements.
Sri City has a well-balanced blend, even in job creation too. Over 35,000 individuals are employed by all businesses (including direct and indirect ones).
According to a recent survey, half of this number is engaged in industries’ jobs. The rest is involved in support services such as construction, contract vehicles, workforce supply, housekeeping, protection, own village company, etc.
The land acquisition process was a fascinating challenge. Many of the problems for a consent-based settlement were resolved by the Sri City Administration, and 10,000+ acres of land were purchased without litigation.
These projects are now part of the government of India’s new land acquisition Act. But in one decade, the region has attracted the attention of multinationals, in addition to being India’s leading industrial destination, with the involvement of renowned higher learning institutions such as IIIT and IFMR.
Sri City provides everything an organization wants, from total production and service infrastructure to amenities and lifestyle facilities. It was built as a world-class city focused on the principles of integrated growth and ‘new urbanization’ that can lend itself in the future to scalability and sustainability.
Sri City stands as a glittering example of an exceptional industry taking advantage of the massive population, talent pool, and well-developed best-in-class industrial infrastructure.
The cultural foundation place with multi-level domestic options, commercial and local development complements the business zone to make life self-sufficient and allow Sri City to work & live a genuinely pleasurable experience.
Its proximity to Chennai, South India’s industry and commercial centre give Sri City a competitive advantage over other areas. In the form of schooling, jobs, and overall socio-economic growth, the local effect of Sri City is manifested.
The CSR program of Sri City aims to improve the communities comprehensively, focusing on enhancing critical social criteria such as access to quality education, better health care, social infrastructure, livelihood choices, etc. The Sri City villages have seen a dramatic shift in the population’s composition, with strong diversification, which is a significant indicator of the economy’s health. The strategic location of Sri City provides access to the very best of both states.
In recognition of its world-class infrastructure, international standards, and dedication, Sri City won several prestigious awards, including the Asian Most Admired Brand for 2017-18, and the prestigious Green City ‘Gold’ ranking from that Indian Green Building Council (IGBC) in appreciation of its national perfection in 2017.
Over the years, the paddy belt has become a vibrant industrial entity, with nearly one hundred operating units emerging in a decade. These include Isuzu, Colgate, Palmolive, Lavazza, Alstom, Kobelco, Foxconn, PepsiCo, Mondelez, Kellogg’s, and many other leading brands. The mega-industrial operation of the area has also been a game-changer. Indian warehouses also provide their best services to make it more successful for growing business here.
People who gave away their land for Sri City’s growth were rewarded and enriched more than one way. These include Isuzu, Colgate, Palmolive, Lavazza, Alstom, Kobelco, Foxconn, PepsiCo, Mondelez, Kellogg’s, and many other leading brands. The mega-industrial operation of the area has also been a game-changer. People who gave away their land for Sri City’s growth were rewarded and enriched more than one way.
As soon as it emerged as a well-established brand among the country’s prominent corporate organizations, Sri City appeared as one of the most significant global production hubs in the nation among its world-class foundation and local advantage for exports and imports, giving a fillip to job development and bringing the economy on the fast track.
With its plug-and-play infrastructure, Sri City became one of the leading industrial destinations in the Sunrise State of Andhra Pradesh after the state bureaucracy (AP). Since the state government has embarked on an important exercise to develop the state with significant industrial investments, Sri City is featured in state investment clusters, although it is a private SEZ.
Sri City is the chosen business destination for investors willing to grow their business due to its ideal location, tax incentives, rich manufacturing traditions, and full support during the investment process implementation. The steady influx into Sri City of many global corporations, major Japanese, European, American, and Indian multinational corporations, validates the investment opportunities and makes it the worldwide reference point for SEZ. For Sri City, the most vital advice is the long list of its achievements.
Approximately 180 companies from 28 countries have selected Sri City as their home, investing nearly Rs.40,000 crores. The city is already full of development, brought alive by more than 100 operating units from different industry divisions. Any more production units are below development and will soon be a part of this automated growth engine.
During the past seven years, the aggregated value of exports from Sri City units has been about Rs.5000 crores. All these Japanese industries’ combined investment amounts to over Rs.9040 crores, providing over 9000 people with job opportunities.
Ten years ago, the entire region, which was the most backward region in the state, was known for its low potential for jobs.No proper education and medical services were available. But today, with the advent of Sri City and India’s leading industrial destination, with the presence of several major corporations, renowned higher education institutions, the whole country is attracting the region’s attention.
As the current focus of economic development and high return on investment in the industrial corridors of Bengaluru-Chennai and Visakhapatnam-Chennai, Sri City stands out as one of the best places for long-term development and growth.