Economy Of Lucknow

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Lucknow has been ranked in the 6th position in terms of job creation and has been a major place for trading and market in the North India and has emerged as a big hub for the services and goods industry. The capital city of Uttar Pradesh being in lucknow, various government departments and offices of PSUs are found in the city and these are also great sources of recruitment for the people of the state. Due to the liberalization of the state policies, a number of opportunities can be found in the sectors of business and in the service sectors so that many people are going for the self employment opportunities in increasing numbers.

The Small Industries Development Bank of India or SIDBI, Pradeshiya Industrial and Investment Corporation of Uttar Pradesh or PICUP and the office for the region of the Uttar Pradesh State Industries Development Corporation and many other government agencies have their headquarters here. Some other business promoting institutions in the city of lucknow are Entrepreneurship Development Institute of India and Confederation of Indian Industry.

Manufacturing and Processing:

The biggest manufacturing units in the city of lucknow are

  • Hindustan Aeronautics Limited
  • Tata motors
  • Eveready Industries

Small scale as well as medium scale sector industries are found in the industrial part of the townships such as in

  • Aishbagh
  • Chinhat
  • Amausi,
  • Talkatora

Real Estate:

Lucknow’s economy is highly influenced by the boom of the real estate in the city and has become an important place for the property growth in terms of the ccosts, because of the developmental works that are going on by the government in regions of gomtinagar and Alambagh. Many malls have come up in the lucknow region such as :

  • SaharaGanj Mall,
  • Fun Republic Mall,
  • Riverside Mall,
  • Phoenix United Mall,
  • Westend Mall
  • Singapore Mall,
  • Felix Square Mall,
  • City Mall,
  • Gardens Galleria,

Traditional Trade:

The town of lucknow has been a traditional location for the sale of melons, mangoes, grains, etc which are grown in the neighbouring areas of the city. In close proximity are the sugarcane plantations and various sugar industries. Due to such landscapes and provisions, Edward Dyer brought up a unit that worked with molasses, which later on became Dyer Breweries in 1855, as the first brewery on a commercial scale. Further name change into Mohan Meakin brewery was done in 1967, but then the name brewery was removed as the company started some other activities.

Many small scale industries are also well known in the region of lucknow where embroidery works, Lakhnawi zardozi and chiikan work are also quite famous and good sources of money. Many fashion designers are using these kinds of dressing in the fashion shows and for the movie stars.

Kite making in Lucknow had transformed into a great work of artistry, when nawabs were ruling in the area and could be called as a small scale industry.

The city of lucknow also has many small scale industries for the making of tobacco products such as kivam, making of a variety of attars or scents and even items like handicrafts, pottery, earthen toys, bone carving products, work on silver and gold foil, etc.

Emerging Businesses:

Rapid development is being seen in various forms of businesses such as banking, retail industry, information technology, education, legal infrastructure and various other aspects.

  • Commercial pProperties
  • Multiplexes
  • SEZs
  • Business Centres
  • Financial Institutions
  • Entertainment Centres

Software Technology Parks of India was established in 200, in lucknow by the ministry of Communication and Information Technology so that sufficient exposure and focus can be laid down on the promotion of biotechnology and information technology in the city. Another biotech park is being aimed for in the city by the Ministry of Science and Technology. This city has already been selected for the Project of Smart City which is being devised by the STPI. The Ministry of Communications and Information Technology set up Software Technology Parks of India in 2001. .Currently, biotechnology and information technology are the two focus areas to promote economic development in and around the city. The Ministry of Science and Technology is setting up a biotech parkin the city.Lucknow is also one of the selected cities for the Smart City project of STPI{citation needed} .