Economy
As one of the largest cities of India and major centre of learning with several colleges and universities, Pune is emerging as a prominent location for IT and manufacturing. Pune has the eighth largest metropolitan economy [66] and the sixth highest per capita income in the country.[67]
Automotive companies such as Tata Motors, Mahindra & Mahindra, Mercedes Benz, Force Motors (Firodia-Group), Kinetic Motors, General Motors, Land Rover, Jaguar, Renault, Volkswagen, and Fiat have set up greenfield facilities near Pune, leadingThe Independent to cite Pune as India's "Motor City".[68]
The Kirloskar Group, was the first to bring industry to Pune by setting up Kirloskar Oil Engines Ltd. in 1945 at Kirkee in Pune. The Group was originally set up in Kirloskarwadi.[69] Kirloskar Brothers Limited (India's largest manufacturer and exporter of pumps and the largest infrastructure pumping project contractor in Asia[70]), Kirloskar Oil Engines (India's largest diesel enginecompany[71]), Kirloskar Pneumatics Co. Ltd., and other Kirloskar companies are based in Pune.
The Hinjewadi IT Park (officially called the Rajeev Gandhi IT Park) is a project being started by MIDC to house the IT sector in Pune. When completed, the Hinjawadi IT Park is expected to encompass an area of about 2,800 acres (11 km2). The estimated investment in the project is ₹600 billion (US$8.9 billion).[72] To facilitate economic growth, the government made liberal incentives in its IT and ITES Policy, 2003 and leased properties on MIDC land.[73] The IT sector employs more than 70,000 people. Software giant Microsoft intends to set up a ₹7 billion (US$100 million) project in Hinjewadi.[73]
