Faridabad is a huge industrial area and populated center in Haryana. Faridabad is the most populated city and 60% of the state of Haryana’s revenue is generated in Faridabad. Faridabad and Gurgaon amount to 50% of the total income tax collection of the state. Faridabad is well known for henna production, shoes, tires, tractors, switch gears and refrigerators.
Faridabad is a leading industrial city and the massive economic engine of Haryana. It is known as the industrial heart of Haryana. It has become popular for industry setters because of its location on Delhi-Mathura road. Faridabad Ballabhgarh Industrial Complex has occupied a very important place on the industrial map. Faridabad has emerged as the 9th biggest industrial town in India. Faridabad industry manufactures products such as tractors, motorcycles, huge mechanized loaders, footwear and tires. Significant products such as special alloy steel casting, LPG articles, vacuum glass flasks and forgings are also manufactured. During the last few years 70 units of dyeing, textile and printing have come up. Huge numbers of garment exporters have started switching over to Faridabad from other parts of the country. Apart from large scale industries like Whirlpool, ABB, and Thomas press, there are thousands of medium and small scale industries as well.
Faridabad has benefited from the Union Government plans to decongest Delhi by shifting a number of Central Government Offices to Faridabad. Many union government offices are based in Faridabad. Excellent infrastructure for the setting up of industry is offered by Faridabad. Authorities like the Haryana Urban Development Authority and Haryana State Industrial Development Corporation adopt and develop lands for industrial purposes. They have acquired more than 1500 plots in the district. As far as infrastructural facilities are concerned, Haryana is rated as the best state in India today, based on economy. Private entrepreneurs are free to purchase and use land from appropriate government industries.
As far as transportation facilities are concerned, Faridabad lies on a broad gauge of the New Delhi- Mumbai line. Trains for big cities like Chennai, Mumbai and Hyderabad are easily available from here. The National Highway passes through the city and is well connected to other states. Faridabad is also served by the Indira Gandhi International Airport, Palam and New Delhi Domestic Airport. Faridabad is emerging to be the hottest property destination with properties selling really fast. The real-estate industry in Faridabad is booming due to easily available and affordable property in Faridabad. Apart from manufacturing industries, ITes and BPOs have also emerged in Faridabad.
Faridabad is emerging as an area having maximum foreign collaborations. The range of products that are being exported from this district is expanding every day. In addition to this, foreign markets for the same are also expanding. Products manufactured here incorporate the latest technology and are technically superior. A large number of industries have collaborations with foreign countries apart from fully owned foreign companies. Relaxation of FDI in many sectors, which includes construction, real estate and retail, has unlocked doors for the commercial real estate sector in Faridabad.
Thus, Faridabad is emerging to be a favorite spot for foreign investors. They can reap maximum benefits of their investments in India.
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