Economy of Ahmedabad
Ahmedabad is the largest inland industrial center and the second largest industrial center in western India after Mumbai. The gross domestic product of Ahmedabad metro was estimated at $160 billion in 2010. It is the largest supplier of denim and one of the largest exporters of gems and jewellery in the country. Ahmedabad hosts the headquarters of major public-sector banks Ahmedabad Dist Co Op Bank, Ahd Mercantile Co-Op Bank Ltd, Ahmedabad Mercantil Co Op Bank, Dena Bank, Corporation Bank,The Cosmos Co - Op Bank,Manager Gujarat Ambuja Co-Operative, The Gujarat State Co-operative Bank Ltd.Gujarat State Coop Bank, The Kalupur Bank, Ahmedabad Capital Bank, Kutch Bank co op, Bank of Rajasthan, Bank of Marwad,
The textile industry has been the main industry of Ahmedabad. On 30 May 1861, Ranchhodlal Chhotalal founded the first Indian textile mill called the Ahmedabad Spinning and Weaving Company Limited, to be more popularly known as the Shahpur Mill later on. This was followed with a series of textile mills like the Calico Mills in 1880 by Maganbhai, and other mills founded by industrialists like Ambalal Sarabhai and Kasturbhai Lalbhai which gave Ahmedabad the title of Manchester of India. The textile industry saw a decline in the early part of the 20th century, but was revived again due to the First World War and also by the Swadeshi movement led by Mahatma Gandhi during the independence movement. Arvind Mills is one of the largest textile mills in the country. An Arvind mill is one of the three largest producers of denim in the world.
Ahmedabad G. D. P. was $65 billion in 2008. Ahmedabad also has a thriving chemicals and pharmaceuticals industry. Two of the biggest pharmaceutical companies of India - Zydus Cadila and Torrent Pharmaceuticals are located in the city. The city also serves as the corporate headquarters of the Adani Group which is a leading trading and export company of India. The Nirma group of industries running a large number of detergent and chemical industrial units in Gujarat, also has its corporate headquarters in the city.
The last few years has seen the rise of the Information Technology industry in Ahmedabad. A Nasscom survey in 2002 on the ‘Super Nine Indian Destinations’ for IT-enabled services (ITES) had ranked Ahmedabad fifth among the top nine most competitive cities in the country.
Companies based in Ahmedabad include: Adani Group, Arvind Mills, Cadila Healthcare Gujarat Samachar, Infibeam, Nirma, Sadbhav Engineering Limited, Sandesh, Torrent Cables, Torrent Pharmaceuticals, and Torrent Power.
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- ""Ahmedabad joins ITES hot spots", The Economic Times, 16 August 2002". Retrieved 2006-05-14. Archived September 2, 2005, at the Wayback Machine.
- "A Complete Overview on Cadila Healthcare". business.mapsofindia.com. Retrieved 2009-02-04.