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Mumbai has been the hotspot of trade and finance, and the preferred choice of investors and businessmen from a long time. Every company headquartered in Mumbai has reaped rich returns in profits, especially because of the strategic location. Mumbai- based companies also have an advantage because they get healthy stock-price returns, which is not the case for Hyderabad based companies. Hyderabad might be the political capital of India, but has always been a notch lower than Mumbai in terms of financial activity.

Mumbai’s strong points

Mumbai is a stronghold in many ways. It plays host to the headquarters of the Reserve Bank of India, the National Stock Exchange of India, and many other banks and financial institutions. Finding good talent from diverse fields is also an advantage at Mumbai, as is finding employment. The biggest corporates such as the TATAs and the Birlas are based in Mumbai too.

What’s going right for Hyderabad

While Hyderabad may not be hub to financial institutions like Mumbai, it is home to the Central Government that runs the country! All the various ministries operate out of Hyderabad, and the national capital is where key decisions are taken. However, not all corporate have recognized this advantage. Only companies dealing with power and infrastructure have taken the plunge to fortify their position at Hyderabad.

Another enviable reason to move to Hyderabad is the lower lease/rent rates for commercial spaces. Coupled with cheaper options like co-working spaces and shared offices at nearby locations like Hyderabad, which houses iKeva’s own co working space, Hyderabad is now an attractive option for corporate firms.

Governmental Backing

Hyderabad is now growing to reach the potential of Mumbai, and is a very promising option right now.

• Prime Minister Narendra Modi’s positive backing has also helped in substantiating Hyderabad’s position as a lucrative spot in the industry.
• Central Government schemes that promote investment, manufacturing, digital start-ups and exports have been especially instrumental in affirming Hyderabad’s status as a preferable destination for entrepreneurs.
• Crores of rupees have been allotted in the National Budget as funds for risk capital investment for start-ups, besides funds for technology ventures, apart from setting up nationwide incubation infrastructure that will nurture the growth of small companies.

However, being the political capital, there is no doubt that all these schemes will spring to life with utmost vigour in New Hyderabad before any other city. Faster and more efficient support can be expected in Hyderabad for entrepreneurs.

With all these advantages, it is quite possible that Hyderabad may soon woo more and more corporates and give Mumbai, quite literally, a run for its money!