Sri City, a destination where the world of possibilities comes alive
Located at the Southern end of Andhra Pradesh (AP), just 55 km north of Chennai, Sri City, the sprawling industrial park, beckons us as one enters the State.
Hyderabad: Located at the Southern end of Andhra Pradesh (AP), just 55 km north of Chennai, Sri City, the sprawling industrial park, beckons us as one enters the State. Recognised as one of the top business destinations in the country, Sri City was inaugurated on August 8, 2008 by Dr YS Rajasekhara Reddy, then Chief Minister of united Andhra Pradesh.
Spread across an area of 100 square kilometres, Sri City offers a number of multiple investments options and stands out as an example of a holistic Business City with investments close to $4 billion and exports exceeding $1.1 billion. It plays a pivotal role in the mission 'Make in India', and its contribution towards substituting imports by significantly multiplying exports is conspicuous.
Close to 190 companies from 27 countries call Sri City their 'home', and are spread across the Integrated Business City, which has a Special Economic Zone (SEZ), a Domestic Tariff Zone, a Free Trade Warehousing Zone (FTWZ) and an Electronics Manufacturing Cluster (EMC), all in its precincts, resonating a truly global park. Some of the biggest multinationals, such as Foxconn (mobile phones), Mondelez (chocolates), Kellogg's (cereal food), Alstom (metro coaches), Colgate Palmolive (tooth brushes), Pepsico (soft drinks), Lavazza (coffee), Danieli (steel components), Tata Smart Foodz (food products), Kobelco (cranes & excavators), Unicharm (personal hygiene products), West Pharma (pharmaceutical packing), VRV (cryogenic storage vessels), etc., are among the many brands that make this a truly multi-product manufacturing hub.
Sri City is spearheaded by Ravindra Sannareddy, the Founder and Managing Director who has demonstrated tremendous dynamism over the years, propelling the growth of this business park to global standards. As a son of the soil, he understood the pulse of the region, and acted as a catalyst in transforming the socio- economic landscape of the region. Sri City today employs over 50,000 people, of which more than 50 per cent are women folk.
During the Covid-19 crisis, Sri City has been staying on top of things, and with the cooperation of the government authorities and all the stakeholders, it could minimise disruption to the business and sustain commercial activity as much as possible. With the strict adherence of all the safety norms and the standard operating procedure at work places, Sri City is humming to normalcy. The new lessons learnt during Covid time make the green industrial hub more sustainable.
Besides being a cauldron of people and cultures from across the country and the globe, Sri City is also the second largest hub for Japanese manufacturers in India. Developed on the principles of 'work, live, learn, play', the city reverberates with life, allowing residents access to everything that makes the life lively and active.
An IGBC (Indian Green Building Council) Gold rated organisation, Sri City continues to maintain its carbon neutrality with a host of green initiatives. The bedrock of any growth are the values created by taking everyone along. Corporate Social Responsibility forms a significant aspect in the daily operations of Sri City, and Sri City Foundation's interventions in education, skill development, sanitation, healthcare and environmental awareness have significantly added towards uplifting the lives of the people of the region.
Being the current focal point of economic evolution and high yield on investment in Bengaluru-Chennai and Visakhapatnam-Chennai industrial Corridors, Sri City stands out as one of the best places for long term development and growth. Invest India, the national investment promotion and facilitation agency of the Government of India, in its publication titled 'Great Places for Manufacturing in India' and released during May this year, featured that Sri City has high potential to attract investments from other countries. Boosting local manufacturing and giving a fillip to creation of more and more jobs, Sri City gets the economy of the State and region on fast track.