04/07/2024- Bhubaneswar, often referred to as the “City of Temples,” is undergoing a remarkable transformation. Once a serene stopover for tourists en route to Puri, Bhubaneswar is now emerging as a pre-eminent IT hub in Eastern India. This evolution is not just a testament to the city’s growing infrastructural and economic prowess but also to its strategic and forward-thinking approach to becoming a haven for IT/IT companies.
A Preferred Destination for IT Companies
Recent studies indicate that IT companies are increasingly favouring Tier-II cities like Bhubaneswar, Chandigarh, and Jaipur for their operations. Among these, Bhubaneswar stands out for several reasons. It ranks third in the nation in terms of ease of doing business and potential growth, according to the World Bank. This ranking highlights the city’s conducive environment for business operations and its potential for future development.
Strategic Advantages
Affordable Cost of Living: One of the key factors making Bhubaneswar attractive is its affordable cost of living. Compared to metropolitan cities, Bhubaneswar offers a lower cost of living while maintaining a high quality of life. This affordability is crucial for both employees and employers in the IT sector, as it allows for better allocation of resources and higher employee satisfaction.
Low Crime Rate and Lesser Traffic: Safety and convenience are paramount for any business. Bhubaneswar’s low crime rate and relatively lesser traffic congestion make it a preferred location for IT professionals. These factors contribute to a better work-life balance, which is increasingly important in today’s work environment.
Skilled Workforce: Bhubaneswar boasts a sizeable pool of skilled professionals, thanks to the numerous technical and educational institutions in the region. Institutes like IIT Bhubaneswar, NISER, XIMB, and KIIT are pivotal in producing a steady stream of talented graduates ready to meet the demands of the IT industry. This local talent pool reduces dependency on other states and curbs the brain drain.
Government Initiatives: The Odisha government has been proactive in nurturing an IT ecosystem. From setting up Software Technology Parks three decades ago to implementing policies that foster education and skill development, the government has laid a strong foundation for the IT industry. Initiatives aimed at bridging the gap between education and industry needs have created a workforce that is well-equipped to handle the challenges of the IT sector.
Growth Post-Pandemic
The IT industry in Bhubaneswar has seen steady growth, which has only accelerated post-pandemic. The shift to remote work highlighted the city’s advantages, prompting many remote workers to advocate for extended work-from-home arrangements. Bhubaneswar’s infrastructure, combined with its strategic advantages, makes it an ideal location for such setups.
Notable IT Giants and Startups
Bhubaneswar is home to several big-time technology firms like Infosys, TCS, Mahindra Satyam, Wipro, and Tech Mahindra. These companies have recognized the city’s potential and have been operating here for a considerable time. Additionally, homegrown companies like Tatwa Technologies and Mindfire Solutions started in Bhubaneswar and have achieved significant success, serving as inspirations for new startups.
Conclusion
Bhubaneswar’s journey from a tranquil city of temples to a bustling IT hub is a story of strategic vision, robust government policies, and an unwavering commitment to education and skill development. The city’s affordable cost of living, low crime rate, skilled workforce, and supportive government initiatives make it an ideal destination for major IT companies.