The skyline of Indore.Kasturbagram Rural Institute, Indore office
The economy of Indore is notable for its importance in the areas of trading, finance and distribution in Madhya Pradesh. Indore has the largest economy in Madhya Pradesh and is the business and trading capital of the state. Pithampur Industrial Area, near Indore houses more than 1200 industrial units. Pithampur is a part of Indore Metropolitan Region, though its economic contributions are not accounted in Indore District. Located at the crossroads of western and central India, Indore has relatively good connectivity and has been the hub of trade and commerce, not only for the state but also for western India. Cotton textiles are the city's major product, but iron and steel, chemicals, and machinery are also manufactured there. The textile industry is in decline and is being replaced by a variety of new manufacturing industries. Still it is one of the largest textile industries in India. Old-time industries which flourished in Indore were handloom, hand dyeing, manufacture of niwar, oil extraction by ghani, manufacture of bamboo mats, baskets, metal utensils, embossing and engraving of gold and silver ornaments, shellac industry, etc. Ayurvedic and Unani medicines from roots and herbs were manufactured under state patronage. Indore has one of the largest trans-shipment centers for truck transport.
Apart from textile industry, Indore has oil seed extraction industry, confectionery, paper and straw board, factories for asbestos products, RCC pipes and poles, machine tools and accessories, electrical machinery and appliances, electronics goods, bicycles and ready-made garments. Indore accounts for about one third of the total ‘namkeen’ (variety of gram flour snacks) production of India. Due to its trade and industry, the residents of the city refer Indore as Mini Bombay.
Indore Urban Agglomeration had estimated 3.30-lakh workers in 1991. The workforce increased from a size of 1.13 lakh in 1961 recording an average annual growth rate of 3.64% per annum during 1961–1991. The workforce participation rate was 28.9% in 1991 and 30% in 2001. It remained almost static between 1981 and 1991 in percentage terms. The maximum growth (68.6%) took place during the decade 1971-1981 followed (51.2%) during 1981–2001.
Indore's CBD is the largest in state and also has plenty of surrounding commercial areas which are considered part of Indore. A notable one is Pithampur, which is also known as the Detroit of Madhya Pradesh.[1][2]
Indore city extends over the Vijay Nagar, forming East Indore, a continuation of the CBD. Indore has a large economy; however it tends to have a high vacancy rate. Just a few kilometres north of Vijay Nagar. Indore economy is expanding in all directions and it includes both the traditional agro industries and modern corporate and IT companies. One of the busiest cities of Madhya Pradesh, Indore is the economic nerve center of the state. With the flourishing of Indore economy, a number of management and engineering schools have been opened in Indore in order to supply the growing demand of professionals.
^Tiwary, Santosh (1 April 1998). "Pithampur small enterprises tell a tale of untapped potential". The Indian Express. India. Archived from the original on 21 January 2012. Retrieved 1 September 2009.
^Trivedi, Shashikant (9 July 2004). "Pithampur units face bleak future". Business Standard. Retrieved 1 September 2009.
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