Time for India's smaller cities to shine? Rajkot, Nagpur, Thrissur register over 150% jump in Hurun's top hotspots for companies

While Mumbai and Bengaluru have been at the forefront of bagging big companies and businesses as prime locations, Burgundy Private Hurun India 500 has showed that smaller cities like Thrissur and Nagpur could become hotspots for companies soon.

This comes as the report shows that the business map of India is changing with Mumbai and Bengaluru registering a decline in the number of companies while Hyderabad, Gurugram, and Noida saw a significant increase, indicating a shift in India's business landscape.

Cities like Nagpur, Thrissur, Rajkot among others registered a growth of over 150% in terms of companies coming to these locations for businesses.


Additionally, the report has shared that companies who were features in the list are employing more people than ever. "In 2024, their workforce grew by 20%, adding nearly 1.4 million new jobs and expanding to a total of 8.4 million employees. These companies now employ around 16% of India's total workforce, highlighting their significant role in national employment," said the report.

Homebuyers and investors are showing increased interest in Tier 2 and Tier 3 cities, driven by the success of government initiatives like the Smart Cities Mission and the AMRUT Yojana. These programs have greatly enhanced infrastructure, spurred job creation, and attracted industries and foreign corporations. The government remains committed to affordable housing, with schemes like Pradhan Mantri Awas Yojana (PMAY) providing a major boost.

As property prices continue to rise, the demand for affordable housing is becoming more crucial for low and middle-income groups. This emphasis is expected to fuel sustained growth in the sector through 2025.